FAQ
PadSplit and Atlanta Co-Living Management

• PadSplit enables rental property owners to convert underutilized space into additional bedrooms, thereby increasing the owner’s revenue while reducing the rental cost for tenants.
• PadSplit is similar to Airbnb, except that stays are far longer, averaging nine months.
• Our tenants are typically workers in building trades, healthcare, retail, restaurants, and other fields who need cost-effective housing that is clean and safe. They either need shorter-term housing, are content with a smaller space, or lack the income to rent an entire home, including deposits, utilities, and other expenses. PadSplit allows these essential workers to rent a private bedroom space with shared common areas, including a kitchen and dining area – at an affordable rental rate.

• PadSplit connects property owners with residents seeking an affordable place to live. It offers a nationwide platform where tenants can locate available rooms in most major markets.
• PadSplit handles the tenant relationship, including paperwork and payments.

• The PadSplit concept maximizes revenue from a rental property by converting underutilized spaces like living rooms, dens, rec rooms, garages, etc., into bedrooms. Atlanta Co-Living Management can serve as a general contractor for these renovations.
• Atlanta Co-Living Management retrofits the property with the latest security technology, including:
  • Remotely Programmed Smart Locks
  • Outdoor Security Cameras
  • Wi-Fi Router
• As the property manager, Atlanta Co-Living Management provides a turnkey 12-point service to take everything off the owner’s shoulders - from everyday management, housekeeping, and evictions to major repairs.

In one example, a traditional 4-bedroom, 3-bath home that brings in $2500 per month can be retrofitted into a 7-bedroom, 3-bath home that brings in $5600 per month

There are one-time costs associated with converting a property for co-living as well as traditional property management fees.

One-time costs include:

• Renovations & Build-Out
• Security Technology
• Furnishings

Ongoing costs include:

• Bimonthly cleaning of common spaces
• Monthly replacement of HVAC filter
• Lawn care as needed
• Ongoing repairs as needed (Atlanta Co-Living Management is available to handle these)
• Padsplit fees (check with Padsplit)
• Atlanta Co-Living Management

Take a look at our Management Agreement.

1. Business Plan – Our no-obligation property analysis leverages PadSplit data and other market data to calculate what your property could be earning.
2. Renovation Plan – We optimize your floor plan to boost occupancy and create a budget for renovation, furnishing, technology, and upgrades.
3. Build-Out – We are licensed contractors who can arrange for any construction work, including wall partitions, doors, remodeling, locks, and security systems.
4. If you are already operating a PadSplit yourself or under other management, Atlanta Co-Living Management will conduct an initial inspection of the property with video.
5. PadSplit Relationship – We manage the relationship with PadSplit. Our turnkey service is designed to take the entire operation off your back while maximizing your income.