What is a PadSplit home?
Instead of trying to build new affordable housing, PadSplit is converting existing homes into multiple single-room units. ... Rather than building new buildings, PadSplit works with property owners who are renting out single-family homes.
How does PadSplit work?
PadSplit is a membership program. For a fixed weekly payment, you get a private, furnished room, utilities, internet access, and laundry facilities. The rooms are hosted by property owners.
Does PadSplit allow couples?
Due to the ongoing COVID-19 pandemic, PadSplit has placed stricter limits on the amount of Members who can live in a home. For this reason, couples are not currently allowed to share a room. Exceptions are made for couples who booked with PadSplit before these limits were placed.
Is PadSplit legitimate?
PadSplit is a Public Benefit Corporation that exists solely to find solutions for the affordable housing crisis.
Does PadSplit do credit check?
What is PadSplit? PadSplit is the best and most affordable way to find a place to live! For one low weekly price, Members get a private room with furniture, utilities, internet and laundry usage. There's no minimum credit score needed to apply, and Members don't have to sign long-term leases.
Who founded PadSplit?
Founder & CEO, PadSplit, Inc. Atticus is the founder of PadSplit, Inc and co-founder of Stryant Investments, LLC, and Stryant Construction & Management. He has been an affordable housing advocate and investor since 2008, when he began acquiring distressed single-family homes in Southwest Atlanta.
How does PadSplit make money?
Here's how the model works: PadSplit uses existing housing stock to convert single-family homes or apartments into shared housing for workers and retirees earning less than $35,000 a year. The company operates more than 1,000 units, primarily in Atlanta, but also in Houston, as well as Virginia, Alabama and Maryland.