We’re thrilled to share an exciting update to PadSplit’s platform: the introduction of Property Scores set to replace House Scores starting in early July 2024. This enhancement aims to provide a more comprehensive, data-driven evaluation of how well each of our hosts’ properties and their overall portfolio are managed compared to others on our platform.
Why property scores matter
All components of the Property Score have been carefully selected based on their correlation with successful PadSplits. Properties with higher scores consistently show:
- Fewer early move-outs
- Fewer evictions
- Longer-term occupancies
These insights can help our hosts optimize their properties for better performance and increased tenant satisfaction. For more detailed information about the components of the new Property Score, read more here.
Key features and considerations
Fair and Controllable Metrics: We’ve designed the Property Score to be fair, focusing only on factors that a host can control. For instance:
- Only specific categories of House Ratings will influence the score.
- Member-to-member ratings will never impact the Property Score.
Dispute Process: We’ve listened to our hosts’ feedback and are pleased to introduce a dispute process for House Ratings. PadSplit hosts can now engage with disputes through our Dispute Policy, which is detailed here.
Preparation Period: We understand the importance of giving our hosts time to adapt. For the next three months, Property Scores will be visible to each host but will not be externally visible or affect any other aspect of our product. This period allows each host to familiarize themselves with the new scoring system and make adjustments as needed.
Timing of Scores: A property will only be scored after it has been live for eight months, ensuring a fair assessment period.
Utilizing the Property Score Dashboard
The host account now features a robust Property Score Dashboard. We encourage our hosts to leverage this tool for:
- Performing hosting duties effectively
- Evaluating the performance of property managers
The new Property Score system is designed to enhance our hosts’ management capabilities and improve the overall experience for the host and members. We’re excited to see how this update will benefit the properties and the PadSplit community as a whole. If you have any questions, please reach out to Host Support.
