Getting ready to PadSplit
Have questions about Hosting with PadSplit? We've outlined some common topics below. Want more information? Attend one of our webinars or local meet-ups. Email sales@padsplit.com for more information.
The Member is the customer
PadSplit is a marketplace, and Members pay for what they want. PadSplit Members choose their living space considering the same factors that you do: location, price, and amenities. Properties that offer a better mix of the three will book more often and ultimately make more money. There are basic safety and building code requirements that all PadSplits must meet, but the most successful properties go beyond the basics and offer an exceptional living space for Members. (Hint! Great photos make this much easier!)
Get to know your neighbors
A PadSplit doesn’t exist in a vacuum: it’s a part of the local neighborhood and community. Many of our neighbors love PadSplit for transforming run-down properties into well-kept homes that improve their neighborhood and property values. Other communities are much more sensitive to rental properties, which is why we recommend neighborhoods without an HOA. A supportive neighbor keeps an eye on your investment while a combative neighbor is quick to report you if the grass gets too long. Investing a few minutes into getting to know your neighbors and telling them about your PadSplit can go a long way. Exchange numbers, and let them know that you’d appreciate a heads up if there are problems — many neighbors just want to know that if they have concerns they’ll be addressed. It also helps letting them know all our Members go through background checks unlike a lot of long term rentals.
Optimize for ease of cleaning and room turns
Think about the hardest, most annoying cleaning task in your home: that’s the task you want to eliminate in a PadSplit. Shared living introduces cleaning challenges, and everything works better if the space is a little bit easier to clean for Members. Soft surfaces, such as upholstered furniture and carpet, are difficult to clean well. Shelves and storage receptacles in common areas accumulate dust and unwanted belongings. We love and appreciate our long-term Members, but for many, PadSplit is a pit stop on their journey to financial independence. The easier the property is to clean, the more likely new Members will have a positive first impression and pleasant stay throughout.
Budget $300 for last-minute improvements and additions
Anyone who’s ever moved into a new home knows that no matter how hard you plan, a few necessities slip through the cracks. Although we strive to make our Host specifications as comprehensive as possible, the same thing happens when opening up a PadSplit.
Spend an hour walking through the house and imagining that you’re the first PadSplit Member moving in. What is your impression? What do you find lacking? In what other ways can you protect your investment? Head over to a hardware store and invest in some additional pest control, cleaning supplies and air freshener. Consider additional outdoor lighting or some mulch. These simple improvements can go a long way to making a PadSplit a great place to live.
Utilities, Utilities, Utilities
One of the biggest mistakes we see for first-time Hosts is ignoring utilities. A commitment to driving down utility consumption from the outset can make the difference between a PadSplit that gets by and a successful PadSplit. We recommend fast-payback items such as low-flow aerators and LED bulbs, but make sure to keep in mind that each house is different. Install locks on outdoor hose spigots and check all exterior doors and windows for drafts. Some owners even implement their own monitoring technologies such as Moen FLO. A few hundred dollars in improved insulation and caulking pays back quickly on hot summer days and cold winter nights.
Think about parking
Although many PadSplit Members use public transportation, some may also need to drive to get to work and meet life’s commitments. Parking can be a nuisance for the community (too many cars can upset neighbors), the property (by parking or driving on grass) and the Members (by being boxed in). From site selection to operation, parking is an easy component to overlook. Seek out properties with ample street and driveway parking and consider laying down a gravel patch to add parking spots where appropriate.
Ready to take the next step?
Now that you have an overview of some of the considerations to become a great Host, it’s time to dive deeper and contact sales@PadSplit.com to book a time to talk with one of our team members.
