ATLANTA, Dec. 7, 2021 /PRNewswire-PRWeb/ -- PadSplit, the country's largest shared housing marketplace specifically designed for the workforce, has been named to the Inc. 2021 Best in Business list, receiving the top honors in the real estate category. Inc.'s Best in Business Awards honor companies that go above and beyond to make a positive impact in the world.
Founded in 2017, PadSplit is a Public Benefit Corporation with a mission of opening doors to new opportunities, one room at a time. The company's unique shared housing model has been proven to increase housing supply, while decreasing barriers to access for individuals who seek quality housing at vastly more affordable rates, all without a long-term commitment, credit score or a security deposit. To date, PadSplit has created more than 3,000 shared housing units and housed more than 5,600 individuals, with rooms available at 40-50 percent of the average cost of a one-bedroom apartment in its markets.
"The PadSplit team is truly grateful for this recognition," said founder and CEO Atticus LeBlanc. "We launched this company four years ago with a hope that we could create opportunities for people who continually face barriers to access. Housing costs are going up everywhere, and community workers simply can't find a place to live. This is a massive, systemic issue that requires more resources, but we're proud of the impact we're making at PadSplit, giving people more housing options and helping them to save for their futures."
Designed specifically for the workforce, PadSplit members include teachers, daycare workers, security guards, restaurant and grocery staff, and others who want to spend less on their housing costs. Each PadSplit comes with a private, fully furnished bedroom and shared common areas, with utilities and WiFi at no additional cost. PadSplit's backend technology also facilitates a customizable payment schedule so residents can align the timing of payments to their work pay periods, making it easier to budget. Finally, PadSplits are located nearby job centers or public transit, and with no long-term commitments, residents can easily relocate to remain close to new jobs without relying on car ownership or long commutes.
As a result of this targeted approach, PadSplit is helping its residents achieve greater financial stability:
- 88% have improved their credit scores
- Residents report savings of $420 per month across their housing, utility and transportation costs
- Many have been able to save enough to purchase cars, move into their own apartments, and even become homeowners, where they have been able rent out rooms through the platform to start the cycle for others
Scott Omelianuk, editor-in-chief of Inc., says, "What began for us during the pandemic as an effort to showcase companies that were helping the community has grown into a recognition of social, environmental, and economic impact. The companies on this year's list are changemakers with heart – and they're pouring the best of their business into the people and communities around them."
Rather than relying on quantitative criteria tied to sales or funding, Inc.'s editors reviewed the companies' achievements over the past year and noted how they made a positive difference in the world. The applicant pool was extremely competitive, with around 2,700 entries and an acceptance rate in the low single digits – a huge success for these honors in the list's second year. Honorees are featured online at inc.com/best-in-business.
PadSplit housing is currently available in Atlanta, Houston, Tampa, Jacksonville, Dallas, Richmond, Indianapolis, and New Orleans. In addition to this Inc Best in Business award, PadSplit has been recognized this year as the PropTech Breakthrough Affordable Housing Solution of the Year, an Inman Innovators finalist, an Atlanta Business Chronicle Pacesetter and Corporate Citizen of the Year, an Atlanta Inno 50 on Fire company, a TiE Atlanta Growth and Impact Awards finalist, and a Technology Association of Georgia Top 10 Most Innovative company.
For more information about PadSplit, or to find out how you can become a member or a host, visit https://PadSplit.com.
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ABOUT PADSPLIT
PadSplit is the country's largest shared housing marketplace that provides housing specifically designed for the workforce. As a Public Benefit Corporation, we're intentional about doing well AND doing good, so we focus on increasing housing supply and decreasing barriers to access. Our award-winning model allows individuals to find a flexible, long-term rental option that includes furniture, utilities, and access to public transit, all without a minimum credit score. PadSplit's technology platform also enables personalized rent payments that facilitate easier budgeting and allow residents to improve their financial health. Headquartered in Atlanta, PadSplit operates more than 2,500 shared housing units across the country. Apply to become a resident or a property owner at https://PadSplit.com.
ABOUT INC. MEDIA
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across various channels, including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the Inc. 5000 allows these founders a chance to engage with their peers in an exclusive community with the credibility to help drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit http://www.inc.com.
Media Contact
Hela Sheth, PadSplit, +1 (678) 938-1318, [email protected]
SOURCE PadSplit
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