What is a Property Score?
Note: Property Scores are replacing House Scores
Property Scores are a data-driven approach to measuring how well each of your properties and overall portfolio are managed compared to other properties on the platform.
All of the Property Score components have been found to correlate with successful PadSplits. Specifically, properties with higher scores have been shown to have fewer early move-outs, fewer evictions, and more longer-term occupancies.
Four factors are considered as part of the Property Score:
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House Ratings
- We only consider ratings that pertain to house maintenance or cleanliness*
- Move-in ratings*
- Number of maintenance tickets per month
- % of individual occupancies granted payment extensions when requested (Issuing Payment Extensions greatly improves the tenure of Members and is therefore encouraged)**
Each of these four components is scored on a scale of 1-10. Then each score is averaged together to create a composite Property Score. The scores are determined by comparing a property to other properties activated in the same quarter. A property will only be given a score after it has been live for 8 months. A 10 would be a perfect score.
*Can be disputed via our Dispute Policy
**This is coming soon and is not currently considered as part of the score
