In the dynamic landscape of real estate investment, challenges often emerge when owning a rental property. The rise of squatters in vacant homes has become a prevalent issue, especially in the largest U.S. market for institutional landlords. This phenomenon not only poses financial risks but also jeopardizes the safety and livability of neighborhoods.
There’s a high risk of squatters with each rental property
The alarming surge in squatters has reached unprecedented levels. Around 1,200 homes in metro Atlanta have fallen victim to unlawful occupation. Institutional giants like Starwood, FirstKey Homes, and Amherst Group have faced the brunt of this crisis. This has led to prolonged eviction processes due to overwhelmed court systems and sheriff’s offices. It also poses a significant threat to individual investors’ long-term wealth-building endeavors.
“The large corporations are having a hard time dealing with it. A small individual who would want to use that property to build their long-term wealth and secure their future, it could potentially destroy them,” warns industry expert Urbanski in a recent interview with Bloomberg.
Squatters are using technology to break into rental properties
The advent of self-showings and the availability of fake lease documents online have made it easier for squatters to exploit vacant homes. PadSplit counters this trend by leveraging technology to enhance security measures, offering a more robust screening process.
As the lack of affordable housing and homelessness rise, PadSplit steps in as a proactive solution. With an innovative model focusing on affordability and shared living spaces, PadSplit aligns with the changing landscape of housing needs.
PadSplit: A game-changer in real estate investment
PadSplit is a shared housing platform that stands out as a beacon of hope for real estate investors navigating squatter-related challenges. One of the primary reasons investors are singing the praises of PadSplit is its ability to mitigate issues with squatters that plague traditional rental properties.
Unlike other properties that fall victim to squatters exploiting online listings and virtual touring software, PadSplit has established itself as a secure option. The platform’s unique approach ensures a more reliable rental experience, eliminating the risk of protracted eviction battles.
PadSplit’s shared housing platform proves to be a secure and reliable option for real estate investors concerned about squatter risks. The unique aspect of PadSplit’s model lies in the occupancy of multiple tenants within each shared housing property. This significantly reduces the likelihood of squatters taking residence. Since there are never traditional showings of the shared housing rental properties, the privacy and security of the homes are maintained, eliminating the opportunity for unauthorized individuals to gain access.
Furthermore, the implementation of key code locks adds an extra layer of security to the shared housing properties, ensuring that only authorized individuals can enter the premises.
With an impressive 85% occupancy rate, investors can rest assured that their properties will consistently have tenants, mitigating the risk of squatters and occupying vacant shared housing spaces.
PadSplit also takes proactive control of parking, landscaping, and member management. It distinguishes itself from conventional rental properties that frequently lack sufficient supervision. Rigorous monitoring of all PadSplit properties is in place to deter any abnormal activities.
Eliminate the risk of squatters by converting rental properties into PadSplits
PadSplit emerges as a savior in the realm of real estate investment, offering a respite from the squatter menace. In the face of rising housing costs and increased challenges, PadSplit stands as a testament to innovation, security, and affordability in the real estate market. For investors seeking a reliable and transformative solution, PadSplit is the key to unlocking a future where properties are safeguarded. This allows wealth-building dreams to be realized without the threat of squatter-related nightmares.
Convert your single-family home into a PadSplit today to reduce the risk of squatters. Visit PadSplit.com to learn more about PadSplit and how it can increase your ROI by 2x-3x.
