House
Flipping 2.0:
Co-Living
with PadSplit
Earn money on your property with PadSplit while waiting to flip your house.
While you're waiting out the market to flip your house, earn money by renting it. PadSplit connects property owners with pre-screened residents seeking an affordable place to live.
We help real estate investors leverage under-utilized space in their existing properties: making it more profitable for you and more affordable for community members.
House flipping market with graphics
House flips as a percentage of all sales
House flipping is on the rise across the United States. The first quarter of 2022 saw a nearly 7% increase from the previous quarter. Out of the 5 to 6 million homes sold per year, this graph shows how many of them are flips.
House flipping in the news
PadSplit vs. Single Family Rentals
We convert under-utilized space into additional bedrooms. This increases the overall earnings potential of the home, while lowering the per room cost for members. The property below earns 2.5x more ($2534) as a PadSplit compared with a traditional rental.
Before
$1,649
Monthly rent
4 bed 3 bath
After
$4,183
Monthly rent
7 bed 3 bath
See income breakdown
How it works
Step 1
Schedule a call with us
We’ll get to know you, your property, and share more about the PadSplit process.
Step 2
Get your home PadSplit-ready
Our team can introduce you to contractors who will optimize your home for more space — and more income.
Step 3
List your home on our platform
We'll put your property in front of potential members, verify identity and income, and perform background screenings using available resources.
Step 4
Start earning
Receive payments from PadSplit, get expert support, and start earning more income for your property.
People are talking about us
Affordable Housing Solution of the Year
PropTech
Pacesetter Awards
Atlanta Business Chronicle
2021 Fire Awards
Atlanta Inno
Top 10 Innovative Technology Companies in Georgia
TAG
Inc. Best in Business
Inc. Magazine
Mike O.
Host since 2020
“The company’s mission to leverage housing as a vehicle for financial independence is a great one. The best thing about PadSplit is the cash flow, which has far and away been better pound-for-pound than anything else that I've experienced. It’s just fantastic.”
Daryl D.
Host since 2019
“The cash flow is the biggest win. I’ve doubled my net returns on PadSplit properties. It used to be a 30-year plan to pay off a property, but with PadSplit, now it’s a fraction of that.”
Tiffany R.
Host since 2019
“The benefits of PadSplit? It was easy to get started. The communication was great, and the opportunity to create and earn passive income while creating affordable housing for members of my community who look like me has been wonderful.”
Lisa C.
Host since 2020
“PadSplit is a win-win for everybody. It provides low income housing that’s so desperately needed right now while also helping landlords pay their mortgage, taxes and insurance, because that's been the biggest challenge that landlords have had.”
Gavin L.
Host since 2020
“I’ve been impressed with the PadSplit staff and their care and attention to Members. The mission of the company hasn’t been lost two/three layers down, and I see the values have permeated the culture.”
Why you should become a Host
Simplified screening
We advertise your listings, find residents, and conduct screening, including income verification.
Reduced vacancy costs
We minimize your vacancy costs and increase occupancy rates to provide you with a steady stream of income.
Resident management
We staff a dedicated call center for resolving resident disputes – because we understand that’s the last call you want to field as a landlord.
Let’s increase your
income
income
Common questions from Hosts
Why should I choose PadSplit instead of the traditional rental or Airbnb model?
There are seven reasons why investors choose PadSplit over Airbnb: earnings, time-to-revenue, regulatory risk, occupancy, tenure, identity screening, and community impact.
How does PadSplit screen Members?
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 the same screening and identity verification processes and meet our approval criteria, including providing verification of their income or employment. Members also agree to Membership Rules and are eligible for fines and/or strikes if they violate a rule.
How should hosts furnish a PadSplit home?
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.
What is PadSplit's occupancy rate?
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.
What is the average tenure of a PadSplit member?
The average tenure is eight months across all of our homes.
Still have questions?
© PadSplit, Inc 2024
Equal Housing Opportunity
Public Benefit Corporation