News and Features The Plot Thickens

Shared-housing Platform Company Enters Houston Market

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In a move that could increase income for homeowners with a little too much space in their homes, Atlanta-based PadSplit brought its services to Houston. The Houston Chronicle is reporting that the company, which has purchased and converted several homes in the Houston area for its business, offers homeowners the chance to lease their extra bedrooms to renters. The renters, many of whom are lower-income workers who are building their rental credit or can’t afford their own space, are prescreened by PadSplit, and most pay about $600 a month for a room. Renters who want to can move between other spaces in the network, depending on the need. PadSplit manages the units in its network, and collects the rent weekly. Property owners are charged a 12- to-14 percent commission on proceeds, which are paid out monthly. The company has 90 rooms under development in the Houston market which are concentrated in the southeast Houston, Acres Homes and Pasadena areas.

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