Question 1

How does PadSplit screen Members?

Accepted Answer

We’re looking for independent, responsible, and respectful Members who are ready to take ownership of their lives and willing to live in a shared community. All Members must undergo a background check for the safety of other PadMates and meet our approval criteria, including providing verification of their employment. Members also agree to Membership Rules and are eligible for fines and/or strikes if they violate a rule.

Question 2

How should hosts furnish a PadSplit home?

Accepted Answer

PadSplits should look and feel like any property on their street, if not better. We recommend Hosts focus on three principles when furnishing a PadSplit:Make it shareable: While it may seem counterintuitive, many common areas can become a source of conflict and should be minimized or handled intentionally. Avoid soft surfaces on flooring and furnishings and common storage such as bookshelves.Make it efficient: We strongly recommend installing smart thermostats that lock and ensuring the property is well insulated. In an effort to minimize water consumption, install low-flow fixtures. Lastly, we recommend using LED bulbs in all light fixtures.Make it home: Inside the property, use simple artwork and decorations to make the home look inviting. Each bedroom should be furnished with a bed (full-sized or larger), mattress cover, end table, lamp, and built-in closet or armoire. We provide Hosts with a detailed guide, but many go above and the results reflect a product they’re proud to call their own.

Question 3

What is PadSplit's occupancy rate?

Accepted Answer

On average, the occupancy rate is above 90%. Our team is happy to work with you during the property selection process and preparation process to ensure long-term success.

Question 4

What is the average tenure of a PadSplit member?

Accepted Answer

The average tenure is eight months across all of our homes.

Question 5

Why should I choose PadSplit instead of the traditional rental or Airbnb model?

Accepted Answer

PadSplit is an innovative shared-housing model that provides affordable units to our members and higher returns for property owners. Simply put, we help property owners make money and do good in the community. PadSplit handles all member management, including marketing the properties, screening applicants, collections, and resident disputes, and hosts avoid the constant cleanings and turnover of short-term rentals. Owners who manage properties through PadSplit have seen their yield increase by more than 100% and experience lower turnover rates thanks to our pre-screened Member pool. Still unsure if PadSplit is the right fit? Schedule a call with one of our property experts. We’ll get to know you, your property, and answer your questions.

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