You’ve read the success stories and calculated your potential earnings. Now, you’re ready to dive into the PadSplit model!
Here’s a step-by-step guide on what to expect at each stage of the PadSplit Host journey.
Ready to dive in? Create a Host account to access our exclusive Host resources and schedule a no-obligation call with a PadSplit Account Executive. They’ll walk you through the process, answer all your questions, and help you evaluate your properties to determine if PadSplit is a good fit. Once you’re ready to commit, you’ll sign a Letter of Intent.
Acquire a Property
Many prospective PadSplit Hosts already own a rental property when they sign their Letter of Intent, but it’s not required. Browse the property selection resources on our Host Resource Hub to familiarize yourself with what makes a good PadSplit. We recommend working with a realtor to find the best property in your target market. You can log into your Host account to browse our PadSplit Vendor Network to connect with a realtor in your area familiar with the PadSplit model.
Start Your Renovation
It’s time to start the renovation process! Hosts see the best returns when they optimize their property for co-living, which means building a scope of work and requesting bids from General Contractors. If you need help finding a General Contractor, browse the PadSplit Vendor Network. Don’t forget to make sure your utilities are on before the renovation begins!
Prep and Stage Your PadSplit
You’re in the home stretch! At this point, you should decide if you want to self-manage your PadSplit property or hire a property manager. You’ll also want to start your listing on padsplit.com, so it appears as “Coming Soon” to generate interest. Members can sign up for alerts when your property goes live, helping to increase your booking rate. Finally, invest some time and money in furnishing and staging your PadSplit. Members choose properties based on photos, so hiring a professional photographer to take your listing photos is an essential final step.
List Your PadSplit
It’s time to list! Craft a compelling property listing to increase your bookings, and be sure to upload your photos, move-in instructions, lock codes, and wi-fi information to your listing. Set up your team roles on your PadSplit dashboard so we can send the correct information to the right person at the right time. Finally, list your property and start earning!
Once your property is live, our Host Support team is available to answer your questions at firstname.lastname@example.org.
Not sure you want to go the renovation route? Our new service, PadSplit Turnkey, allows you to hand the entire process over to a professional with industry experience while still maintaining ownership of the home.