Short answer: PadSplit rooms rent by the week, with utilities, Wi-Fi, and furniture included, and the host sets the price. In my Atlanta houses a room with a shared bathroom rents for about $175 a week and a room with a private bathroom for about $250. To move in, a member pays a move-in fee the host sets (PadSplit says it averages about $100 and caps it at $500) plus the first week of rent. The owner then keeps the rent minus PadSplit's fee of the first 10 days of each new stay plus 8 percent after that: about 81 percent of the rent on a twelve-week stay and about 89 percent on a one-year stay.
The short answer
PadSplit has three prices, and an investor needs all three:
- What a room rents for. A weekly price the host sets, with utilities, Wi-Fi, and furniture included.
- What a member pays to move in. A move-in fee, an application fee, and the first week of rent.
- What the owner keeps. The rent minus PadSplit’s fee, which is the first 10 days of each new stay plus 8 percent after that.
What a room rents for
PadSplit rooms are priced by the week. The host sets the number, so prices vary by city, by neighborhood, and most of all by whether the room has its own bathroom.
My own numbers, from my Atlanta houses:
| Room | Weekly rent | About per month |
|---|---|---|
| Shared bathroom | $175 | $758 |
| Private bathroom | $250 | $1,083 |
The monthly column is the weekly rent times 52, divided by 12. Remember that the member’s weekly price includes utilities, Wi-Fi, and furniture, and the owner pays for all of those.
To price your own rooms, look at live PadSplit listings within a mile or two of the house and compare like with like: shared bathroom against shared bathroom, private against private. Prices on PadSplit change, so check listings in your market the week you run your numbers.
What a member pays to move in
From PadSplit’s member FAQ and help center:
- Application fee. Pays for the background check and income verification. PadSplit says it is refunded if the applicant is not approved, for up to two attempts.
- Move-in fee. Set by the host to cover preparing the room. PadSplit says it averages about $100 and caps it at $500 per room.
- First rent payment. The first week of rent before move-in, or two weeks if the member chooses to pay every two weeks.
- Minimum stay. 12 weeks, with a penalty for moving out early.
A low move-in cost is a big part of why PadSplit rooms fill. Your members are usually people who cannot put down first month, last month, and a deposit on an apartment.
What the owner keeps
PadSplit’s fee for hosts is the first 10 days of every new member’s stay, plus 8 percent of what that member pays after day 10. Because the 10 days come out of every new stay, the fee costs more when members turn over often.
On a $175-a-week room:
| Member stays | Rent paid | PadSplit keeps | Owner keeps | Owner’s share |
|---|---|---|---|---|
| 12 weeks | $2,100 | $398 | $1,702 | 81% |
| 26 weeks | $4,550 | $594 | $3,956 | 87% |
| 52 weeks | $9,100 | $958 | $8,142 | 89% |
The 10-day booking fee on a $175 room is $250. After that, PadSplit keeps 8 percent.
What the owner keeps is not profit. Utilities, repairs, cleaning, furnishing, insurance, taxes, and any property manager all come out of it. The full breakdown of what PadSplit does and what still lands on you is in PadSplit for owners: what it really costs.
Put your own numbers in
The PadSplit fee calculator shows what PadSplit keeps at your room price and your members’ length of stay. The rent-by-the-room calculator shows what the whole house nets after every cost.
Related
- PadSplit for owners: what it really costs
- Vacancy rate for rent by the room
- Rent by the room vs. whole house: the math
Common questions
How much does a PadSplit room cost per week?
The host sets each room's weekly price, so it varies by city, neighborhood, and whether the bathroom is shared. In my Atlanta houses, rooms run about $175 a week with a shared bathroom and about $250 with a private bathroom. Utilities, Wi-Fi, and furniture are included in the weekly price.
What fees does a PadSplit member pay to move in?
A membership application fee for the background and income check, which PadSplit says is refunded if the applicant is not approved, a move-in fee set by the host, and the first week of rent (two weeks if the member chooses to pay every two weeks). PadSplit says move-in fees average about $100 and caps them at $500 per room.
Is there a minimum stay on PadSplit?
Yes. PadSplit's member FAQ lists a 12-week minimum stay and a penalty for moving out early.
How much of the rent does a PadSplit owner keep?
PadSplit keeps the first 10 days of each new member's stay, then 8 percent of what that member pays after that. On a $175-a-week room, the owner keeps about $1,702 of a twelve-week stay's $2,100, or about 81 percent. On a one-year stay the owner keeps about 89 percent. The owner still pays utilities, repairs, and furnishing out of what is left.
How should I price rooms in a PadSplit house?
Look at what live PadSplit listings within a mile or two charge for the same kind of room, shared bathroom or private, and price within that range. Then check that the house still works if one room sits empty.
Education only, not financial, legal, or tax advice. Worked examples use round numbers to show the method and are not real properties unless they say so.