Reducing your turnovers and minimizing vacancies is more than a stress reliever for Hosts. It also means more money in your pockets. Our average Member tenure is 8.5 months, and many Members stay even longer if the PadSplit meets all their needs. Here are four things Hosts can do to minimize vacancies and reduce turnover costs.
Our Members pick where they live the same way you do: location, price, and amenities. Members prefer homes located close to public transportation and employment centers, so it’s important to consider location when choosing a PadSplit. Price your rooms competitively, but make sure you factor in utility costs since those are the responsibility of the Host. Need help with pricing? Browse the PadSplit marketplace and look at similar properties located in your area as a guide.
Reducing turnover costs starts long before a Member moves in. There are many things Hosts can do during the property preparation stage to reduce future turnover costs. When building a scope of work, we recommend Hosts get in front of any possible maintenance issues by focusing on choosing durable materials that can withstand wear and tear.
For example, avoid soft surfaces such as carpet when possible, and choose hard surfaces that can withstand cleaning chemicals and everyday wear-and-tear. While granite countertops are more expensive up-front, they are far more durable than laminate or wood counters and will require less upkeep from Hosts.
We recommend all PadSplit Hosts or property managers conduct bi-weekly quality assurance walkthroughs to make sure the PadSplit is in good working order for current and future Members. You can address current issues in the house with Members before they become larger and more costly issues in the future.
PadSplit provides a maintenance ticketing service that allows Members to submit maintenance tickets directly to Hosts. Our team works hard to work through and eliminate unnecessary tickets, but good judgement is required to triage and respond to tickets effectively. When a Host provides prompt service on addressing issues in the home, Members tend to have longer tenure because they know their concerns will be addressed. Check out our recommended guidelines for maintenance response times.
We’re always looking for ways to serve our Hosts, and we have a dedicated Host Support team available to address issues, provide Member information, and share details about Product features.
With the PadSplit model, you can optimize existing space to maximize your profits. Our team walks you through how to build a scope of work for property improvements prior to listing your PadSplit.
New PadSplit partner? Here are five tips to ensure your success from the beginning.