By Ellis Tran | PadSplit
A PadSplit home is a unique rental housing solution offering flexible weekly rooms. PadSplit rentals provide affordable units by dividing a single-family home into multiple furnished bedrooms that can be rented out in desirable neighborhoods.
Our idea is to use existing houses in communities close to entertainment districts, schools, hospitals, and other areas needing affordable rooms to rent. We provide a much-needed service in these areas by offering furnished rooms with all utilities paid.
PadSplit homes provide affordable weekly rentals:
For example, PadSplit converts under-utilized space in single-family homes into additional bedrooms. This increases the overall earning potential of the home while lowering the per-room cost for Members. They are an excellent option for rental property owners who want to improve their rental income and provide affordable rental options for their community.
Our rentals provide furnished bedrooms with a locking door, while common areas such as the kitchen, living room, and bathrooms are shared. The additional bedrooms converted from under-utilized space provide affordable member rooms while earning hosts additional profits.
PadSplit homes improve rental property ROI:
Rental property owners earn higher profits on their single-family rentals than traditional single-family rentals, with many property owners increasing their NOI by more than twice. PadSplit also simplifies the process by providing simplified screening, rent collection, reduced vacancy rates, and resident management.
Many benefits of renting out a PadSplit home:
For rental property owners, our homes can provide several advantages, including:
- Increased rental income – PadSplit homes can generate more profit than traditional single-family homes or apartments. The additional bedrooms in these rentals provide more income than a single-family rental.
- Reduced vacancy rates – PadSplit homes have lower vacancy rates than traditional single-family homes or apartments. Our extensive network of pre-screened members looking for affordable housing keeps rooms occupied.
- Less hassle – PadSplit handles all the hassle of renting a home, including finding tenants, running background checks, and collecting rent.
How to rent out a PadSplit home:
The first step to renting out a PadSplit home is converting the unused space into extra bedrooms. Then the bedrooms and shared areas should be furnished. Finally, provide Wi-Fi and other necessities to attract and retain members at your PadSplit home.
Next, you will need to create a listing on our website. Once your listing is approved, we will begin to market your home to our network of pre-screened members. Once the room is rented, PadSplit collects rent from the member and provides a 24/7 customer service line that residents can call with questions or concerns.
PadSplit continues to grow and enter new markets:
PadSplit was founded in 2013 and is headquartered in Atlanta, Georgia. The company operates in over twenty-five cities across the United States, including Dallas, Indianapolis, Jacksonville, Kansas City, Las Vegas, Los Angeles, Miami, Nashville, New Orleans, Orlando, Phoenix, and Tampa. By continuing to enter new cities and grow its network of Members and Hosts, PadSplit continues to provide more flexibility for our members and higher profits for our hosts.
Learn more about turning your rental property into a PadSplit to increase rental income and provide affordable housing for your community at padsplit.com.