Partnership provides Knox clients an easy path to place their investment properties on the PadSplit marketplace while making a positive impact in their communities
BOSTON and ATLANTA, December 21, 2020 — Knox Financial, the Frictionless Ownership® company that optimizes all aspects of building wealth through investment property, today announced a partnership with PadSplit, an affordable housing marketplace that leverages housing as a vehicle for financial independence. The partnership will expand the inventory of affordable housing available through PadSplit’s marketplace, while giving Knox clients another way to generate income through their investment properties.
“The affordable housing crisis has never been as dire as it is today. Millions of lower income workers simply cannot access safe and affordable housing that is close to job centers,” said Atticus LeBlanc, PadSplit’s founder and CEO. “We’re pleased to partner with Knox Financial to grow the supply of quality affordable housing for those who need it most.”
Knox Financial launched in the spring of 2019, and has brought more than $80M in investment property onto the Frictionless Ownership Platform. Once a property is enrolled on the Platform, Knox oversees the property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking and bill pay — ensuring that the investment property achieves its highest performance, allowing the owner to be a passive investor. With today’s partnership announcement, Knox will advise its clients on whether their investment properties will see greater returns as a PadSplit property, or with a traditional lease.
“In major metro markets, housing usually falls into one of two categories: high-quality and expensive, or lower quality and only slightly more affordable,” said David Friedman, CEO and co-founder of Knox Financial. “PadSplit has broken this mold with its unique shared housing model and with this partnership, Knox and PadSplit are showing that there is a way to provide high-quality workforce housing, while also ensuring that investment property owners see great returns.”
Added Friedman, “One of our most important jobs at Knox is bringing our customers the best investment outcomes. For a growing number of homes in our portfolio, PadSplit offers a fantastic way to help our clients realize these outcomes in the most efficient way.”
The Knox and PadSplit partnership is currently available in the Atlanta and Houston markets, and will expand into additional cities in 2021.
About Knox Financial
The Knox Frictionless Ownership® Platform optimizes all aspects of building wealth through investment property. To learn more, visit www.knoxfinancial.com.
PadSplit is a mission-driven company that helps to solve the affordable housing crisis, one room at a time. Through its shared-housing model, the company aligns incentives between cities, nonprofits, and property owners to spur cost-effective housing creation without public subsidy, all while providing safe and affordable housing for working class individuals. PadSplit was founded by an affordable housing advocate and is advised by a team of nationally recognized housing leaders and investors including Enterprise Community Partners, the UC Berkeley Terner Center for Housing Innovation Lab, Kapor Capital, Impact Engine, and the Citi Impact Fund amongst others. Headquartered in Atlanta, PadSplit operates in several cities throughout the United States. For more information about the company or how to become a member or property owner, visit PadSplit.com.