The passive income of a rental property can be lucrative—especially with PadSplit—but being a property owner comes with major responsibilities. While you host multiple members within your property, conflicts can come up. Between maintenance requests and member issues, rental properties aren’t always smooth sailing.
Get to know the Member Dashboard
With PadSplit, all correspondence is done digitally through the Member Dashboard which the host and PadSplit team can access. This means all issues, questions, and concerns will be handled by a select team who all want to ensure the rental property is functioning smoothly and all members are comfortably cohabitating.
Members can put in maintenance requests and send instant alerts so that hosts can get repairs done quicker and stop problems before they become a bigger issue—and potentially a capital expense.
Members can also utilize the Member Dashboard to alert the host about any issues with other members within the home and receive 24/7 instant response time from PadSplit. Having PadSplit as an intermediary can relieve some of the stress and pressure of being a host while maintaining attentiveness and care for each of your members.
Consider hiring a property manager
Using the PadSplit platform to host members and collect rental income makes for an uncomplicated process. You are guaranteed that all members are vetted, vacant rooms are filled, and issues are resolved fast and effectively.
If you want a truly passive investment, however, hire a property manager. With a property manager skilled in managing coliving properties, you can truly ensure that all issues are handled without you having to lift a finger.
