Recommendations for Hosts

PadSplit is a marketplace, and customers pay for what they want. PadSplit members think about where to live the same way you do: location, price, and amenities. Properties that offer a better mix of the three will do better. There are many basic safety and building code requirements that all PadSplits must meet, but properties are most successful when they go beyond the basics and offer something great to members. (Hint! Great photos make this much easier!)

A PadSplit doesn’t exist in a vacuum: it’s part of the local neighborhood and community. Many of our neighbors love PadSplit for taking run-down properties and turning them into well-kept homes that improve their neighborhood and property values. Other communities are much more sensitive to rental properties. A supportive neighbor keeps an eye on your investment, a combative neighbor is quick to report you if the grass gets too long. Invest a few minutes getting to know your neighbors and telling them about what you’re doing with the property. 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.

Think about the hardest, most annoying cleaning task in your home (for me, it’s the little space behind my kids’ bunk beds): 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, from upholstered furniture to carpet, are difficult to clean well. Shelves and storage receptacles in common areas, to include bookshelves, accumulate dust and unwanted belongings. We love our long-term members, but for many, PadSplit is a shortstop on their journey to financial independence. The easier the property is to clean effectively and quickly, the more likely new members will have a positive first impression and happy stay throughout.

Anyone who’s ever moved into a new home knows that no matter how hard you plan, a few necessities slip through the cracks. While we strive to make our playbook and specifications as user-friendly and predictive as possible, the same thing happens when opening up a PadSplit. Spend an hour walking through the house and imagine that you’re the first PadSplit member moving in. What is your impression? What would you find lacking? As an owner, what other ways can you protect your investment? Then head over to Walmart, and invest in some additional pest control, or cleaning supplies, or air freshener. Consider additional outdoor lighting or some mulch. These last few improvements can go a long way to making a PadSplit a great place to live.

One of the biggest mistakes we see for first-time owners is ignoring utilities. A commitment to driving down utility consumption from the outset can be the difference between a PadSplit that gets by and a PadSplit that’s a home run. Our playbook outlines fast-payback items such as low-flow aerators and LED bulbs, but each house is different. Install locks on outdoor hose spigots, 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.

Although many PadSplit members use public transportation, many also need to drive to get to work and meet life’s commitments. Parking can be a pain point 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 spots where appropriate.

By installing and integrating one of our supported systems, members can move themselves into your property without your being present to meet them, making life easier on both parties. Furthermore, you can simply and easily delete lock codes as members depart, with neither the cost and complexity of changing locks nor concern over extra keys floating around.

C’mon people, even the DMV has Wi-Fi these days. Ok, maybe not, but it should. The fact is, properties without Wi-Fi are less desirable than those with, and members pay accordingly. Put it in there, and adjust your pricing accordingly.

Required in every US state to be legally habitable, and yes, even in Hawaii. Space heaters are forbidden due to risk of fire.

Varies by state, and please refer to your local rental codes. Of course, if it gets hot there, you probably ought to have it, no matter what the law says.

The biggest operating expense for any property is the energy consumed by HVAC. The easiest way to control this expense is to control your thermostat. There are many ways to do this, but in our experience, a smart thermostat, locked with a pin code, is the best way by far. We have found the Nest thermostats to be the easiest to install and the most reliable.

Like Dad said: “We’re not trying to air condition the whole neighborhood!” Small gaps at doors and fixtures all around your property let climate-controlled air out and make Dad angry! In most houses, those gaps add up to the size of an open window. Air-sealing is how you shut the window. Caulk around outlets and fixtures, add weatherstripping to doors and windows. The payback is rapid.

Listen, people gotta eat. Microwaves are safer, less expensive and easier to clean than a stovetop or oven.

This little wonder is an automatic fire extinguisher that goes above your stove and discharges in the event of a grease fire. It is significantly cheaper than finding out how good your insurance is.

Put yourself in the shoes of a PadSplit member. He or she just paid their hard-earned money to move into your property, purely on a belief in what PadSplit stands for and a few pictures on their phone. Maybe they get off work late, maybe it’s dark. They’ve never been to the property, maybe they’re even new to the city. And they’re going to walk into that property and find their place to sleep so they can get up and go to work the next day.

Let’s help make it as smooth as possible. Here’s how:

Reach out prior to move-in to walk the member through anything that isn’t clear in the listing, whether it’s a difficult-to-find address or local parking. Confirm critical details, like the room number and move-in time.

We cannot emphasize this enough. Remember that members don’t know which rooms are which unless they are labeled. When labeling a room, please remember to label it with both the room name and number.

Rehearse your own “move-in”. Drive up to the property and think about where you’d think to park if it were your first time. How you’d enter through the main door, and how you’d find your room if you’d never been in the house before. Try the code, or the key, to access the room. How did it go?

PadSplits work best in close proximity to public transit or employment centers. A more detailed analysis might include looking at comparable studio or 1-bedroom rents in your area. If you can offer members a significant discount to a studio apartment and generate a healthy return on your property, then you should have ample demand at a reasonable price point. Please be mindful of applicable HOA restrictions and building code, in addition to input from neighbors.

Comply with all local building code. Please reach out to legal@padsplit.com for more assistance.

Attend one of our webinars or local meet-ups. Contact operations@padsplit.com for more information.

Ultimately, that depends on the quality of the property relative to alternatives and the price. We have found that owners listing their properties on PadSplit have increased their net profits by more than 60% on average, but have been diligent about maintaining very high standards.

The same kind of people you interact with every day: it’s the person serving your food, delivering your Amazon package, or the security guard at your office. PadSplit members must pass a background check, show proof of employment or income, pass a credit check, and pass an interview with our staff. PadSplit does not discriminate on the basis of race, color, sex, religion, age, sexual orientation, national origin, disability, or familial status.