from Bloomberg:
"Rentals with single-room occupancies, once a staple of urban housing, were largely zoned out of U.S. cities decades ago. An Atlanta startup called PadSplit thinks they’re ready for a comeback: The company is helping landlords turn rental properties into pay-by-the-week rooming houses. They already manage more than 400 rooms, mostly in lower- and middle-income neighborhoods of single-family homes. ●“We’re investing in this because we have basically come to believe that there is going to be a housing crisis again,” says Arjan Shütte, founder of Core Innovation Capital, a venture capital firm that’s backing PadSplit. “Ten years ago the crisis was a financial one. This time it’s a crisis of supply.” ●Founded by Atticus LeBlanc, PadSplit instructs landlords on how to convert properties into PadSplit-branded lodging and then manages them for a fee, working inside loopholes in local laws. For example, although Atlanta doesn’t allow rooming houses in single-family-home neighborhoods, PadSplits are designed so that the tenants meet the city’s complicated definition of a “single family”: up to six unrelated people, plus another four, as long as the latter occupy no more than two rooms. ●PadSplit roomers get a furnished bedroom; use of bathrooms, kitchen, dining, and laundry rooms; all utilities; wireless; and a cleaning service for about $140 a week, which is collected electronically. A typical home has 5 to 8 furnished bedrooms. "
