Coliving startup PadSplit expands to San Francisco, New York and Chicago
PadSplit rents out single rooms in shared homes. It is now moving into the San Francisco Bay Area, the New York metro area and Chicago, the company said in a press release on Thursday.
The Atlanta-based startup lets homeowners split houses into furnished private bedrooms with shared kitchens and living rooms. Residents pay weekly, with utilities and Wi-Fi included. There is no long lease and no minimum credit score.
Founder and chief executive Atticus LeBlanc said housing costs are rising faster than wages in many cities.
For many workers, renting a room “isn’t just the most affordable option, it’s often the only attainable one,” he said.
A nonprofit partner in San Francisco
In San Francisco, the launch has backing from the San Francisco Housing Accelerator Fund, a nonprofit that finances affordable homes. The fund wants owners to fill empty rooms and units through PadSplit.
“Our partnership with PadSplit is an...
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