In this article, we are featuring Quinton, General Manager at PadSplit. Quinton talks about the Innovation that PadSplit brings for landlords and the role of insurance in protecting both host and tenants

The Innovation behind PadSplit

Imagine having a way to maximize your real estate investment returns while also tackling the affordable housing crisis. That’s exactly what PadSplit aims to do, and it's a game-changer for seasoned investors like you.

The easiest way to describe PadSplit is by comparing it to something you already know: Airbnb. About 15 years ago, Airbnb revolutionized the way we think about renting out space by monetizing time. PadSplit takes a similar approach but focuses on space. Instead of renting out an entire property, PadSplit rents out individual rooms, providing a new revenue stream for existing real estate.

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For real estate investors, PadSplit acts as the nation's largest platform for boarding houses, but with the tech-savvy approach of Airbnb. We handle everything from tenant aggregation to digital revenue collection, boasting a 97% accuracy rate for collections. This innovative model offers a new exit strategy for your real estate investments, focusing on affordable housing — a win-win for both you and the communities you invest in.

Tips For Landlords

• To become a successful landlord, consider innovative models like PadSplit that maximize your property’s potential.
• Enhance your property’s appeal by attracting high-quality tenants through smart design choices.
• Stay informed about market factors like the impact of lumber prices to make cost-effective decisions.
• Boost your property’s value by maximizing ROI with renovations.
• Effective social media marketing for landlords can attract more tenants to your PadSplit rooms.

High Demand For Room Rentals

With interest rates soaring and the housing market more volatile than ever, finding a sustainable and profitable investment model is crucial. That’s where PadSplit shines.

I have a 15, almost 16-year-old daughter who recently introduced me to a TV show called "The Summer I Turned Pretty." It made me think of our current situation. This is our summer to turn pretty, with high interest rates and all the challenges investors are facing. Many investors are on the sidelines, unsure how to proceed. But at PadSplit, we offer a viable exit strategy that allows you to make more money on the same piece of real estate.

Whether you own short-term rentals or are a traditional buy-and-hold investor, PadSplit provides a steady stream of income. Our tenants aren’t just weekend visitors; they are the essential workers keeping our communities running. This stability makes PadSplit an attractive option for those looking to maximize their returns in a challenging market.

Further Reading

• Understand the impact of interest rates on your rental property investment to make informed decisions.
• Explore different real estate investment strategies to find the best fit for your goals.
• Learn about managing seasonal rentals to diversify your investment approach.

Role Of Insurance To Protect Landlords

Risk management is a top concern for any seasoned investor, and PadSplit takes this seriously. Let's dive into how we protect both hosts and tenants.

For our members, becoming part of PadSplit means passing rigorous background and income checks. This ensures a safe and reliable community. We highly recommend renters insurance to protect their belongings within their specific rooms.

For investors, we partner with companies like Steadily to provide commercial liability coverage for the properties, akin to what you’d get for an LLC. This standard liability package is tailored to our co-living model, ensuring that your investment is well-protected across different states. Our partnerships are designed to grow with us, providing consistent coverage as you expand your portfolio.

This collaborative approach with insurance providers and other vendor partners helps new investors get comfortable with this innovative investment model, ensuring that both your assets and your tenants are secure.

Protect your investment with comprehensive landlord insurance from Steadily.

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Disclaimer: Steadily is a landlord insurance agency. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions, and limits of the actual policy. Nothing on this site alters the terms or conditions of any of our policies. Customers should read the policy for a complete description of coverage. Coverage options, limits, discounts, deductibles, and other features are subject to individuals meeting our underwriting criteria and state availability.

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