An employee and host’s perspective on finding opportunity in a competitive, expanding coliving marketplace.
In the world of real estate, “oversaturation” often conjures images of a market flooded with options where supply far outpaces demand. For PadSplit hosts, this concern might surface as a pressing question: Are there too many hosts, too many rooms, and not enough quality members? Cue the ominous music.
But before we hit full panic mode, let’s dial back the doom and gloom. From my experience, there’s a wealth of opportunity within PadSplit’s coliving marketplace—especially for those willing to approach it with the right mindset and strategy.
As both a PadSplit employee and a host, I’ve had the unique privilege of accessing PadSplit’s vast marketplace data, giving me insights into the realities of this evolving space. When I first stepped into the world of coliving, I sought wisdom from various sources—“YouTube University,” Instagram, and fellow hosts—hoping to navigate what many were labeling a crowded market. While I did encounter stories of challenges and competition, the question remained: Was Atlanta truly too saturated for me to succeed?
Here’s what I’ve learned in my journey so far:
1. Set realistic expectations
It’s tempting to imagine coliving as a fast track to passive income, but many hosts quickly discover that success demands more effort than they anticipated. While the prospect of a lucrative side hustle is enticing, achieving it requires research, strategy, and a willingness to adapt. Yes, passive income is possible, but it’s often the result of hard work and continued attention to detail. The key is to stay patient and committed.
2. Stand out by offering more than just the basics
Gone are the days when simply providing a “clean and safe room” was enough to attract members. Today’s PadSplit members expect more from their living environments. To succeed in this competitive market, hosts need to offer more than just the essentials. Think about amenities like workspaces, fully stocked kitchens, and inviting common areas. You’ll need to create a space that feels like home rather than just a temporary stop. The more you exceed expectations, the better your chances of attracting long-term members.
3. Know your audience
Understanding your market is critical. For example, a young professional or gig worker may have vastly different needs compared to other demographics. It’s essential to tailor your offerings to meet those specific needs. Amenities like high-speed internet, convenient workspaces, and proximity to public transportation can significantly improve your property’s appeal. Take time to understand the profiles of potential members in your area and adjust your space accordingly.
4. Surprise and delight your residents
One of the joys of being a host is the ability to surprise and delight your members. Small, thoughtful touches can make a big difference. Whether it’s a personalized welcome note, a $7 shower caddy (my personal go-to), or a curated list of local recommendations, these gestures go a long way in building member loyalty. When members feel cared for, they tend to stay longer, recommend your property to others, and leave positive reviews—helping your room stand out even more.
5. The power of data
As a PadSplit host, you have access to a treasure trove of data that can help you optimize your strategy. By leveraging the tools and insights PadSplit provides, you can better understand member trends, set competitive pricing, and improve your listings. PadSplit isn’t just a platform; it’s a partner in helping you succeed. Hosts who use data to inform their decisions often outperform those who rely solely on intuition.
Addressing oversaturation: Is the Atlanta market really too crowded?
It’s easy to see why some might view Atlanta as an oversaturated market. After all, PadSplit has grown rapidly, from just 3,600 rooms nationwide two years ago to over 6,200 rooms in Atlanta alone today. However, this growth is a reflection of increasing demand for affordable housing—demand that’s not slowing down anytime soon.
The reality is that while the number of hosts and rooms has expanded, so too have the opportunities to provide exceptional member experiences. Far from being a saturated market, Atlanta continues to offer fertile ground for hosts willing to differentiate themselves. The key is innovation and a commitment to continuous improvement. PadSplit members are looking for more than just a room—they’re seeking a home that fits their unique needs and lifestyle.
Looking forward with optimism
Despite the challenges that come with a growing marketplace, I remain optimistic. The Atlanta market is competitive, yes, but it’s also full of opportunities for those willing to evolve with the times. By focusing on member experience, leveraging PadSplit’s data, and going the extra mile to create memorable living spaces, you can not only succeed but thrive.
In the end, the notion of “oversaturation” may simply be a matter of perspective. The coliving marketplace is continuously evolving, and as hosts, we have the ability to shape its future by elevating the experiences we provide. Rather than viewing the market as overcrowded, let’s see it as a chance to redefine what coliving can be.
What’s your take on oversaturation in the coliving market?
I’d love to hear from fellow hosts. How do you perceive saturation in your area? What strategies have you used to stand out and succeed? Let’s share ideas and continue supporting each other as we navigate this dynamic landscape together.
Feel free to reach out at Quentin@PadSplit.com.
Quentin Wendt
General Manager, PadSplit
