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Updated 12 days ago, 11/13/2024
Padsplit hosting experience
Does anyone out there have experience as a Padsplit host. Has dealing with this organization been a good experience? Does their concept work? Overall impression?
PadSplit host in Houston here, my experience has been good thus far. Some highlights: I have 3 homes up on Platform and manage another 2 homes. The homes I own total to 24 bedrooms, 8 bedrooms per home (1 master and 7 shared bath bedrooms). The ones I manage total to 20 bedrooms.
These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).
This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes. After all PITI, utility, and services (lawncare and cleaning) costs I have $7,225.
I set aside 25% of this for my maintenance fund.
The remainder funds my lifestyle, wife has a Tesla, and quarterly vacations as well as business growth.
In 2023 I am tracking to build 4 duplex units designed as room rentals funded in part from a recent land sale. With this I will have an additional 8 units bringing in $20k+ in after expenses revenue.
I own 5 PadSplits and have been working with PadSplit since 2017. I'm a PadSplit focused investor/agent in Atlanta. For me it’s been one of the best ways to get positive cash flow- hands down. This is especially in a high rate/high price environment.
Quote from @David Edwards:
PadSplit host in Houston here, my experience has been good thus far. Some highlights: I have 3 homes up on Platform and manage another 2 homes. The homes I own total to 24 bedrooms, 8 bedrooms per home (1 master and 7 shared bath bedrooms). The ones I manage total to 20 bedrooms.
These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).
This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes. After all PITI, utility, and services (lawncare and cleaning) costs I have $7,225.
I set aside 25% of this for my maintenance fund.
The remainder funds my lifestyle, wife has a Tesla, and quarterly vacations as well as business growth.
In 2023 I am tracking to build 4 duplex units designed as room rentals funded in part from a recent land sale. With this I will have an additional 8 units bringing in $20k+ in after expenses revenue.
same response in every bp forum, copy paste. real?
Quote from @Gary Nakauchi:
Quote from @David Edwards:
PadSplit host in Houston here, my experience has been good thus far. Some highlights: I have 3 homes up on Platform and manage another 2 homes. The homes I own total to 24 bedrooms, 8 bedrooms per home (1 master and 7 shared bath bedrooms). The ones I manage total to 20 bedrooms.
These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).
This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes. After all PITI, utility, and services (lawncare and cleaning) costs I have $7,225.
I set aside 25% of this for my maintenance fund.
The remainder funds my lifestyle, wife has a Tesla, and quarterly vacations as well as business growth.
In 2023 I am tracking to build 4 duplex units designed as room rentals funded in part from a recent land sale. With this I will have an additional 8 units bringing in $20k+ in after expenses revenue.
same response in every bp forum, copy paste. real?
His numbers seem realistic except PadSplit fees are typically 14.75% (not 14.25%)which is a 12% platform fee and a 2.75% stripe fee to allow members to pay their rent w a credit card.
Quote from @Joel Fischer:
Does anyone out there have experience as a Padsplit host. Has dealing with this organization been a good experience? Does their concept work? Overall impression?
Hi Joel! Do you have any updates from your PadSplit journey?
The platform has grown quite a bit in the last 2 years. The amount of units listed has doubled since then. Were you part of that growth?
Also, there have been several hosts that have come over from airbnb during that period. They brought their high-quality hospitality skills with them and the rooms listed have significantly improved over the same time period. Occupancy has remained strong and PadSplit is hitting new booking records regularly.
Here are some articles to review in the meantime:
1. https://www.padsplit.com/host-resources/news/how-affordable-...
2. https://www.padsplit.com/host-resources/news/why-padsplit-is...