Utilize PadSplit’s Proprietary Tools
PadSplit is a technology company and marketplace that provides custom built tools to help you run your co-living portfolio at scale. Our tools let you execute according to your strategies.
PadSplit’s best Hosts understand these tools and how to use them. There’s still lots more detail that you’ll dig into after listing, but here are some of the basics.
How do I fill my homes with qualified Members?
PadSplit drives traffic to your listing and facilitates the Member booking process. All PadSplit Members are screened via a background check (no felonies in the past 7 years), eviction check (maximum of 1) and income verification (to set their room rate limit).
Your default settings will automatically approve any PadSplit Member that books and pays for your room. If you’d like to have more discretion over who can book your rooms, you can enable our Booking Requests feature. When Booking Requests is turned on, you’ll receive more details about the Member applying to book your room. You will then have 24 hours to either approve or deny the booking.
PadSplit’s effective collections rate has been around 97% since we started with our first listings in 2017, and we’re currently at 97.52%. We want all our Hosts to carefully screen their residents, but our initial screening criteria is already based on thousands of use cases. We’ve long since debunked rental industry myths around requirements for 3x income or high deposits being required for quality tenants or long tenure. So if you’re being overly choosy waiting for that perfect applicant, you’re likely just costing yourself more than you need to, and turning away good Members.
How do I promote good Member behavior in my homes?
Hosts that provide a great experience (see Provide Great Management) tend to see fewer Member issues as tenure gets longer and turnover decreases. Of course, even the best Hosts see Member to Member issues arise at times.
When a Member exhibits negative behavior, Hosts are always welcome to communicate with them directly. Hosts can also document the behavior by submitting a rule violation report to PadSplit. If a rule is broken and proper documentation given, PadSplit will remove one of the Member’s 3 Keys. When a Member loses all 3 Keys, their occupancy in your home is ended and their PadSplit Membership is terminated.
If there are particular behaviors outside of the PadSplit Membership rules that you will either accept or prohibit in your home, you can choose to create custom rules for your property.
How do I receive and keep track of maintenance issues?
PadSplit provides a maintenance ticketing system that allows Members to submit tickets directly to Hosts.
Our ticketing system is easy for Members and Hosts to use. It allows you to move the task to various statuses and initiate a chat with the Member.
While using our system is highly recommended, we can also link Members to an offsite page or phone number. Please note that you must use our ticketing system to flip vacant rooms and re-list them in the system.
How do I communicate with Members?
Currently, these are the ways that Hosts can communicate with the Members in their houses:
Member phone numbers are visible to Hosts. When calling Members, we recommend using a business number or a service like Google Voice.
Hosts can SMS message all of the Members of a house
Hosts can initiate a chat with a Member through a maintenance ticket
*Coming soon!* Hosts will be able to chat with individual Members via our app
What are some other Hosting tools?
Many Hosts find that a personal touch goes a long way in preventing Member issues and reducing Member churn. As a Host, there are many levers available to you whenever you want to give a Member a helping hand. Here are a few:
Hosts can extend due dates, forgive dues or reinstate Members who are having difficulty paying
Hosts can provide a Member with a free transfer to another one of their properties