PadSplit in multifamily properties?

[Mia Blank]

Hey everyone, has anyone here used PadSplit or a similar co-living model in their multifamily properties? Curious about your experiences -pros, cons, and how it’s affected your occupancy/cash flow, what worked and what didn’t? Thanks!

[Josh Bowser]

Hey Mia - I think i've seen your name pop up in the Atlanta Padsplit Sphere before!

I've ran the numbers on a bunch of small multis in the past for padsplit clients in the atlanta market, and unfortunately they do not pencil as well as single families. They tend to be layed out very efficiently, smaller units, and can typically only can add a bedroom.. two max. When you factor in padsplit fees, adding back utilities, and increased maintenance you're typically better off with less headaches for the same cashflow as LTR.

I'm sure there are exceptions to this but just my experience!