PadSplit is known for having an 80% occupancy rate, which is why more investors continue to convert their single-family rentals into PadSplits. We’re now making it even easier to increase your occupancy with the rollout of a new feature for our PadSplit hosts: Host Promo Codes!
All PadSplit hosts can now create custom promo codes to send to prospective members. This gives you more control over marketing your properties and incentivizing new members to move in.
What are host promo codes?
Host promo codes are an effective new feature (still in the beta stage) that allows you to offer a one-time discount to new members interested in booking your PadSplit rooms. You now have an easy way to incentivize potential residents and stand out amongst the competition.
Whether you want to quickly fill an empty room or reward a tenant referral, the promo codes allow you to have an extra tool in your host toolbelt.
How do the promo codes work?
Once you create a promo code, you choose the discount amount that will be applied to the member’s first booking when they apply to rent a room in your PadSplit. When a member uses your promo code when booking your room, PadSplit will waive the 10-day booking fee. This new update to our fee model rewards hosts who market their properties and recruit their own residents.
Key details of this new feature:
- Exclusive to new members: Promo codes are only applicable to new members booking rooms and are unique to a specific property. The members must be acquired outside of PadSplit’s usual marketing channels. You can now bring in your own residents without incurring the standard booking fees.
- Customizable discount amount: You can set the discount amount according to what makes the most sense for your PadSplit. Keep in mind that the discount amount will be deducted from your first payout.
- One-time use: The promo code can only be used for a member’s first occupancy. If you have a lead who hasn’t booked yet but already has a member account, the code will still be applicable.
- Compliance with terms of use: As with all PadSplit features, it’s important to comply with the specific Terms of Use associated with Host Promo Codes, which are available in the product interface.
Why this matters to you
Our new promo code feature enhances how you can market your properties on PadSplit for more exposure. By allowing hosts to recruit their own members without paying the 10-day booking fee, our goal is to empower you to enhance your marketing efforts and increase your revenue. Whether you’re an experienced host or are starting out with PadSplit, host promo codes can equip you to attract the right tenants.
We’re excited to see how you leverage this new tool to enhance your PadSplit experience and have more control over your marketing efforts. If you have any questions, please contact us at support@padsplit.com.
Watch this video to learn how to create a promo code for prospective members!
