As PadSplit continues to attract more members, we’re taking innovative steps to address the concerns of both hosts and members. We’re excited to announce our new Flexibility Commitments feature, designed to create a win-win situation for those seeking shorter stays and hosts looking to maintain profitability.
Understanding the challenge
We’ve heard from many of our valued hosts that they’ve been hesitant to accept applicants seeking shorter stays due to the upfront fees associated with PadSplit bookings. However, when asked if they would consider these shorter stays if members were willing to pay more for the privilege, the response has been overwhelmingly positive.
Introducing Flexibility Commitments
To address this, PadSplit is rolling out two important updates:
- Flexibility Fee for Shorter Stays
Starting September 10, all new move-ins for stays less than 12 weeks will require a $175 flexibility fee paid upfront. This fee is designed to offset the initial 10-day booking charge from PadSplit and ensure we’re targeting medium to longer-term stays. If a member doesn’t pay this fee and moves out early (excluding transfers), they’ll be charged 2 weeks of dues directly to their payment method on file. Both the $175 fee and the 2 weeks of dues will go to hosts, helping to maintain profitability for shorter stays.
This program has been carefully tested over nearly a year, and we’re pleased to report that we didn’t see a significant reduction in move-ins under this program compared to our control group.
- Increased Pricing Flexibility for Hosts
We understand that some hosts may still prefer longer-term stays or have the capacity to accommodate multiple occupants. To address this, we’ve significantly increased your ability to adjust pricing:
- Hosts can now change pricing for a room up to $100 on their own, either before a stay begins or every 30 days thereafter.
- For greater flexibility, hosts can email Support for larger price adjustments.
- We’re working on a more user-friendly product feature for this, but in the meantime, we ask that any potential price increases for shorter-term lengths or multiple occupants be clearly communicated in the listing description before booking.
What this means for you
As a host, these changes offer you greater control over your pricing strategy and help ensure that shorter stays remain profitable. For members, this new feature provides more options for flexible living arrangements, with transparent pricing that reflects the value of shorter-term accommodations.
We believe that Flexibility Commitments will create a more dynamic and responsive marketplace, benefiting both hosts and members. As always, we’re committed to evolving our platform to meet the changing needs of our community.
Please reach out to our support team if you have any questions about implementing this new feature in your listings by contacting us at support@padsplit.com.
