Padsplit

 is full of dedicated resources to help prospective Hosts during the 

phase of their Host journey. If you still have questions during the process, you can reach out to your Account Executive for additional resources.

What renovations are recommended for a PadSplit?

PadSplit recommends adding these important features in order to optimize the success of your property.

By installing a smart lock, Members can move themselves into your property even if you are not present to meet them. You can easily delete lock codes as Members depart without having to worry about changing locks.

It should come as no surprise that in the age of the internet and staying connected, properties with Wi-Fi are much more desirable than those without. Members pay accordingly for a property equipped with WiFi and there is a very good chance that the availability of WiFi will turn Hosts more profit.

Heating is required in every US state to be legally habitable. Space heaters are not permitted due to risk of fire.

Be sure to check your state requirements for air conditioning policies as they tend to vary. If it gets hot in the area, it is a good idea to include air conditioning, despite what the law says.

The biggest operating expense for any property is the energy consumed by the HVAC system. The easiest way to lower this expense is to efficiently control your thermostat. There are many ways to do this, but we have found that the easiest method is to install a smart thermostat locked with a pin code. Nest thermostats have been the easiest to install and the most reliable in our experience.

Small gaps at doors and fixtures all around your property let climate-controlled air out and raise Hosts’ electricity expenses. In most houses, those gaps can add up to the size of an open window. Air seal windows, caulk around outlets and fixtures and add weatherstripping to doors and windows. These small changes can result in saving a significant amount of money.

A firestop is an automatic fire extinguisher that goes above your stove and discharges in the event of a grease fire.

Have questions about Hosting with PadSplit? Attend one of our webinars or local meet-ups. Email sales@padsplit.com for more information.

Common PadSplit features

Most Hosts rely on a general contractor (GC) to renovate the property and get it ready to PadSplit. We highly recommend partnering with licensed GCs in your area with a strong track record. Another option is to rely on referrals from trusted investors or other PadSplit Hosts who have done similar work to their properties previously. Finding a GC with experience in custom single-family renovations is a major plus. PadSplit does not offer GC services but feel free to reach out to your PadSplit representative for potential recommendations in your area. For any real estate project, a number of judgement calls will have to be made in order to optimize the profit of the property. A high level of trust with your general contractor is critical.

Watch out for these common pitfalls when working with a general contractor:

Failing to walk the property and agreeing on a plan 

Failing to align on a detailed, by-line item quote prior to beginning work 

Not obtaining the proper permits for the project

Permitting requirements vary from municipality to municipality. 

Do I need a contractor?

The answer to this question varies depending on the property’s size and condition. It is advisable to budget about $1,000 per bedroom for furnishing and staging. Keep in mind the 

that may be needed to make your property PadSplit ready. If you are trying to capture unused space for additional bedrooms, such as finishing a basement, it could cost between $5,000 to $10,000 for these additions. We recommend speaking with an 

 in order to better understand the costs of transforming your home into a PadSplit.

How much does it cost to convert my home into a PadSplit?

In general, there are 3 phases a property must complete before it can be listed on PadSplit: pre-renovation, conversion and listing preparation. Within each phase, there are tasks that must be completed by different members involved in the project, including PadSplit, owners and contractors, in order to make the preparation process a success. The total estimated duration of the entire process is around 8 weeks. Please keep in mind that this timeline can vary depending on the property.

How long will it take to prep the property for listing?

Everything a Host needs to know -- from listing to operating a home -- to succeed with PadSplit.

Renovating a Home to PadSplit