Acquisition: Finding the Right Property to PadSplit

Whether you are looking to acquire a property or you already own a property that you’d like to convert, you should consider these key considerations to ensure that the property is a good fit for PadSplit. 

Accessing the Location

What kind of neighborhoods should I look for?

PadSplit works best when both the property and the neighborhood are a good fit. Making this determination requires local market knowledge, but there are general principles to guide your decision-making process. As a rule of thumb when considering a property, neighborhoods near employment centers that are renter dominated work the best. HOAs often don't recognize coliving and it is best to avoid them.

For our latest thinking about property selection, please refer here.

What about the neighbors themselves? 

A PadSplit doesn’t exist in a vacuum: it’s a part of the local neighborhood and community. Investing a few minutes into getting to know your neighbors and telling them about your PadSplit can go a long way. Many neighbors just want to know that if they have concerns they’ll be addressed. Exchange numbers and let them know that you’d appreciate a heads up if there are problems. Let them know you care about the condition of the property and being a good neighbor. Prove this by following up on issues that nag them. Keep the outside looking nice (no trash, no excess cars and no unkempt landscaping) and they will have less to complain about.