The PadSplit 'Management Fee' is a Scam

[Puja Varude]

​"Warning to all co-living investors: PadSplit’s model is high-risk with zero protection. I am currently deplatforming after my property was ruined by members who smoked inside and caused thousands in damage. PadSplit’s legal stance is that they don't guarantee payouts for damages, even if they collected fees to manage that member. If you want to keep your property value and your sanity, look for a local management company that actually stands by their vetting process."

[Stuart Udis]

@Puja Varude Are we really just discovering now that leasing a house to a company whose entire business model is subleasing individual bedrooms might come with additional wear and tear?

This is a bit like renting a house to a fraternity and then being shocked when the neighbors start calling about noise. Do you genuinely think this type of arrangement is designed to attract responsible, high-character, quality tenants?

None of this is surprising, unusual, or even particularly unfair. It is the predictable outcome of a use you likely selected because you wanted higher returns than renting the home to a single household. Risk and reward travel together. The only real surprise would have been if the property came back pristine.