Finding affordable and flexible housing can be challenging, especially with traditional rental requirements. At PadSplit, we aim to make the application process straightforward and accessible, offering flexible income verification options to help eligible members find housing that fits their budget, even without a high credit score or long rental history.
One key part of the application process is income verification. If you’re wondering how PadSplit verifies income, what documents you’ll need, or what to do if you’re having trouble verifying your earnings, here’s everything you need to know.
Why does PadSplit verify income?
PadSplit verifies income to ensure that members can comfortably afford their weekly room payments while maintaining financial stability. Unlike traditional rentals that require security deposits, long-term leases, and credit history, PadSplit takes a more flexible approach, focusing on actual income rather than past financial records.
By using this income-first model, PadSplit makes it easier for gig workers, self-employed professionals, retirees, and those with non-traditional income streams to secure housing without unnecessary barriers. This allows members to focus on their goals, careers, and financial well-being without the added stress of rigid rental qualifications.
How does PadSplit verify income?
PadSplit offers two flexible options for income verification, allowing members to choose what works best for their situation.
1. Automatic verification with Plaid
The easiest and fastest way to verify your income is through Plaid, a secure financial technology service that connects directly to your bank account.
When you link your bank account to PadSplit through Plaid, the system automatically detects recurring deposits to confirm stable income. This method is instant, secure, and eliminates the need for paperwork. Many members prefer Plaid verification because it speeds up the approval process and ensures a smooth, hassle-free experience.
Plaid is a trusted, encrypted service used by banks and financial institutions, so your data remains private and secure throughout the process. If your income is deposited into your bank account regularly, this is the best and fastest way to verify your income.
⚠ If Plaid does not detect enough recurring deposits, you may need to upload documents manually to confirm your income.
2. Document upload
If you prefer not to use Plaid, or if you receive income in a way that isn’t easily detected through a bank connection, you can verify your income by uploading supporting documents instead.
Accepted documents include:
- Pay stubs from your employer
- Bank statements showing regular income deposits
- Deposit records for gig work or self-employment income
- Award letters for Social Security, disability benefits, or other assistance programs
Once you upload your documents, PadSplit’s team will review them quickly to determine your approved room rate. This method works well for members who are self-employed, receive cash payments, or have income sources that may not be reflected in a bank account.
Both options are designed to be quick and straightforward, making it easy to complete the application and move into a PadSplit home without unnecessary delays.
💡 Want to secure a room at PadSplit? Start your application today at PadSplit.com and verify your income in just minutes.
How is my maximum weekly rent determined?
Once your income is verified, PadSplit calculates your maximum approved weekly room rate to ensure affordability.
- For W-2 employees and independent contractors (1099 earners): Your weekly rent cannot exceed 50% of your verified weekly income.
- For Social Security Income (SSI) recipients: Your weekly rent cannot exceed 66% (two-thirds) of your weekly income.
By setting rent limits based on earnings, PadSplit ensures that members can enjoy affordable housing while maintaining financial flexibility for other expenses.
What if I can’t verify my income?
If you’re currently unemployed or unable to provide income documentation, you may still qualify for PadSplit membership through an upfront payment option.
- How it works: Instead of verifying income, you can make an upfront payment to cover your initial rent.
- Availability: This option is only available in select cities. Email documents@padsplit.com to check if this applies to you.
This flexibility ensures that more individuals can access stable housing even if they are between jobs or earning income in a way that doesn’t fit traditional verification methods.
Does PadSplit offer rental assistance?
Yes! PadSplit now offers financial assistance through Esusu’s Rent Relief program. This program provides active PadSplit members with a 0% interest loan to help cover rent payments during financial hardship.
If you are struggling to make payments, we encourage you to apply as soon as possible. Esusu’s approval process can take up to 35 days, and applications may be rejected if your PadSplit membership has already been terminated for collections.
🔗 Click here to apply and use Referral Code PS21 when applying.
Get started with PadSplit
PadSplit makes it easy to find affordable housing without the stress of a high credit score requirement or long-term leases. Whether you choose automatic verification through Plaid or upload documents manually, our income verification process is simple, fast, and flexible.
If you have questions, need help verifying your income, or want to explore upfront payment options, reach out to support@padsplit.com for assistance.
Start your application today and find a room that fits your budget at PadSplit.com.
