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PadSplit serves as a co-living marketplace, offering furnished room rentals to working-class individuals provided by property owners of single-family homes.<ref>{{Cite news |last=Badertscher |first=Nancy |title=Co-living a growing trend among renters on a budget |url=https://www.ajc.com/things-to-do/co-living-a-growing-trend-among-renters-on-a-budget/CJAAZFKSPVCBVAC4P2ZY754BK4/ |access-date=2024-04-05 |work=The Atlanta Journal-Constitution |language=English |issn=1539-7459}}</ref><ref>{{Cite news |title=Like Airbnb, but for Flophouses |url=https://newrepublic.com/article/162513/affordable-housing-cheap-rent-padsplit |access-date=2024-04-05 |work=The New Republic |issn=0028-6583}}</ref>
PadSplit serves as a co-living marketplace, offering furnished room rentals to working-class individuals provided by property owners of single-family homes.<ref>{{Cite news |last=Badertscher |first=Nancy |title=Co-living a growing trend among renters on a budget |url=https://www.ajc.com/things-to-do/co-living-a-growing-trend-among-renters-on-a-budget/CJAAZFKSPVCBVAC4P2ZY754BK4/ |access-date=2024-04-05 |work=The Atlanta Journal-Constitution |language=English |issn=1539-7459}}</ref><ref>{{Cite news |title=Like Airbnb, but for Flophouses |url=https://newrepublic.com/article/162513/affordable-housing-cheap-rent-padsplit |access-date=2024-04-05 |work=The New Republic |issn=0028-6583}}</ref>

== History ==
PadSplit was founded by Atticus LeBlanc<ref>{{Cite web |last=Settembre |first=Jeanette |date=2019-11-12 |title=Co-living real estate trend has renters saving thousands |url=https://www.foxbusiness.com/real-estate/co-living-real-estate-trend-has-renters-saving-thousands |access-date=2024-04-05 |website=FOXBusiness |language=en-US}}</ref>, Frank Furman, and Jon O’Bryan in Atlanta, Georgia, in 2017.<ref>{{Cite news |date=2019-09-17 |title=Atlanta Startup Sees Single-Room Rentals as Future of Low-Cost Housing |url=https://www.bloomberg.com/news/articles/2019-09-17/atlanta-startup-padsplit-sees-high-demand-for-low-cost-housing |access-date=2024-04-05 |work=Bloomberg.com |language=en}}</ref><ref>{{Cite web |last=Shieber |first=Jonathan |date=2020-08-19 |title=PadSplit uses the Airbnb model to tackle the country's affordable housing crisis |url=https://techcrunch.com/2020/08/19/padsplit-uses-the-airbnb-model-to-tackle-the-countrys-affordable-housing-crisis/ |access-date=2024-04-05 |website=TechCrunch |language=en-US}}</ref> In 2018, the company was selected to participate in the Atlanta Techstars program.<ref>{{Cite news |last=Kanell |first=Michael E. |title=Techstars Atlanta effort to spur growth |url=https://www.ajc.com/business/techstars-atlanta-effort-spur-growth/PzQ23mW1KUaOyygeDmsqBP/ |access-date=2024-04-05 |work=The Atlanta Journal-Constitution |language=English |issn=1539-7459}}</ref> In April 2019, PadSplit raised $4.6 million in [[Seed money|seed funding]].<ref>{{Cite web |title=Term Sheet — Thursday, April 18 |url=https://fortune.com/2019/04/18/term-sheet-thursday-april-18/ |access-date=2024-04-05 |website=Fortune |language=en}}</ref><ref>{{Cite web |last=Vashi |first=Sonam |date=2019-04-22 |title=Affordable co-living startup PadSplit raises $4.6 million |url=http://saportareport.com/affordable-co-living-startup-padsplit-raises-4-6-million/columnists/sonam-vashi/ |access-date=2024-04-05 |website=SaportaReport |language=en-US}}</ref>

In October 2019, PadSplit was selected as one of three firms to conduct a co-living pilot program administered by ShareNYC and the New York City Housing Preservation & Development.<ref>{{Cite web |date=2024-04-03 |title=Real Estate 101: Finding Good Tenants |url=https://www.northwestgeorgianews.com/calhoun_times/opinion/columns/real-estate-101-finding-good-tenants/article_9c4320c2-ed14-11ee-b1bb-4b92837540a1.html |access-date=2024-04-05 |website=Northwest Georgia News |language=en}}</ref><ref>{{Cite web |last=Fitzgerald |first=Therese |date=9 October 2019 |title=NYC Names 3 Development Teams for Co-Living Pilot |url=https://www.multihousingnews.com/nyc-names-3-development-teams-for-co-living-pilot/}}</ref>


==References==
==References==

Revision as of 15:44, 5 April 2024

PadSplit is an American real estate co-living marketplace headquartered in Atlanta, Georgia.[1][2][3][4]

Overview

The company provides a single-room occupancy model offered to rent furnished rooms in single-family homes with utilities and Wi-Fi included.[5][6] PadSplit is aimed at working-class members, and it has single room dues from $500 to $750 per month.[7] The median income for PadSplit residents is $30,000 annually[8][9][10] and average around $21,000 a year.[11]

PadSplit serves as a co-living marketplace, offering furnished room rentals to working-class individuals provided by property owners of single-family homes.[12][13]

History

PadSplit was founded by Atticus LeBlanc[14], Frank Furman, and Jon O’Bryan in Atlanta, Georgia, in 2017.[15][16] In 2018, the company was selected to participate in the Atlanta Techstars program.[17] In April 2019, PadSplit raised $4.6 million in seed funding.[18][19]

In October 2019, PadSplit was selected as one of three firms to conduct a co-living pilot program administered by ShareNYC and the New York City Housing Preservation & Development.[20][21]

References

  1. ^ Luck, Marissa. "Is co-living the answer to Houston's affordable housing crisis? One growing startup thinks so". Houston Chronicle. Retrieved 2024-04-05.
  2. ^ Dukes, Joi (2022-06-23). "DeKalb County neighborhood residents frustrated over rental home". FOX 5 Atlanta. Retrieved 2024-04-05.
  3. ^ Kusisto, Laura. "Group Living Gets More Affordable, in 30 Square Feet". WSJ. Retrieved 2024-04-05.
  4. ^ "Reduce the Housing Shortage with Home Sharing". National Review. 2019-11-12. Retrieved 2024-04-05.
  5. ^ Nicholas, Kristof (9 December 2023). "The Old New Way to Provide Cheap Housing". The New York Times.
  6. ^ PETERS, ADELE (30 April 2019). "Want new affordable housing quickly? Try splitting up existing homes". Fast Company.
  7. ^ Sisson, Patrick (2018-03-30). "This cohousing startup wants to help the working class". Curbed. Retrieved 2024-04-05.
  8. ^ "Metro Atlanta Affordable Housing Talk". bbis.advancement.brown.edu. Retrieved 2024-04-05.
  9. ^ Fraser, Trevor (2022-06-21). "PadSplit finds rooms for Orlando renters with no 'good options'". Orlando Sentinel. Retrieved 2024-04-05.
  10. ^ "Reduce the Housing Shortage with Home Sharing". National Review. 2019-11-12. Retrieved 2024-04-05.
  11. ^ "Tech start-ups look to disrupt the affordable housing industry". Washington Post. 2019-07-12. ISSN 0190-8286. Retrieved 2024-04-05.
  12. ^ Badertscher, Nancy. "Co-living a growing trend among renters on a budget". The Atlanta Journal-Constitution. ISSN 1539-7459. Retrieved 2024-04-05.
  13. ^ "Like Airbnb, but for Flophouses". The New Republic. ISSN 0028-6583. Retrieved 2024-04-05.
  14. ^ Settembre, Jeanette (2019-11-12). "Co-living real estate trend has renters saving thousands". FOXBusiness. Retrieved 2024-04-05.
  15. ^ "Atlanta Startup Sees Single-Room Rentals as Future of Low-Cost Housing". Bloomberg.com. 2019-09-17. Retrieved 2024-04-05.
  16. ^ Shieber, Jonathan (2020-08-19). "PadSplit uses the Airbnb model to tackle the country's affordable housing crisis". TechCrunch. Retrieved 2024-04-05.
  17. ^ Kanell, Michael E. "Techstars Atlanta effort to spur growth". The Atlanta Journal-Constitution. ISSN 1539-7459. Retrieved 2024-04-05.
  18. ^ "Term Sheet — Thursday, April 18". Fortune. Retrieved 2024-04-05.
  19. ^ Vashi, Sonam (2019-04-22). "Affordable co-living startup PadSplit raises $4.6 million". SaportaReport. Retrieved 2024-04-05.
  20. ^ "Real Estate 101: Finding Good Tenants". Northwest Georgia News. 2024-04-03. Retrieved 2024-04-05.
  21. ^ Fitzgerald, Therese (9 October 2019). "NYC Names 3 Development Teams for Co-Living Pilot".
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