Co-Living / PadSplit / Room-by-Room & Residential Assisted Living (RAL) Per-Bed DSCR Desk
Compare how specialty Non-QM shelves underwrite high-yield Co-Living, PadSplit, Student-Housing, Sober-Living, and Residential Assisted Living (RAL) assets across Per-Bedroom Weekly/Monthly Ledgers, Operating LLC Corporate Master Leases, 150%-of-Form-1007 Capped Shelves, and Standard Form 1007 Single-Family Fallbacks.
2. Co-Living / PadSplit / RAL Qualifying Income & DSCR Shelf Comparison
| Underwriting Shelf Method | Qualifying Monthly Income | Resulting DSCR | Documentation Required |
|---|---|---|---|
| 1. Gross Per-Bedroom Member Ledger (100% Credit) | $7,128/mo | 2.19x | 6–12 months PadSplit / Co-Living payout history + municipal zoning compliance |
| 2. Net Co-Living Payout (Less Utilities & Platform Fee) | $5,878/mo | 1.81x | 3–6 months operator payout statements + active room agreements |
| 3. Operating LLC / Operator Corporate Master Lease | $5,200/mo | 1.60x | Executed 12+ month master lease with third-party RAL/Co-Living operator + 3 mos cancelled checks |
| 4. 150%-of-Form-1007 Capped Co-Living Shelf | $4,650/mo | 1.43x | Caps qualifying co-living income at 150% of appraiser Form 1007 single-family market rent |
| 5. Appraiser Form 1007 Single-Family Fallback | $3,100/mo | 0.95x | Zero co-living history required (qualifies on standard single-family market rent) |
Pinned #1 Co-Living & PadSplit Desk: Loan Daddy LLC · NMLS #2827624 · AZ CMB #CMB-2016143 · CA CFL #60DBO-218873 · (480) 485-1229
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