Fault slip rates estimated from geodetic data are being integrated into seismic hazard models. The standard approach requires modeling velocities and relative (micro‐)plate motions, which is challenging for fault‐based models. We present a new approach to directly invert strain rates to solve for slip rates and distributed strain simultaneously. We generate velocity and strain rate fields over the southeastern Tibetan Plateau, utilizing Sentinel‐1 Interferometric Synthetic Aperture Radar data spanning 2014–2023. We derive slip rates using block modeling and by inverting strain rates. Our results show a partitioning between localized strain on faults and distributed deformation. The direct inversion of strain rates matches the geodetic data best when incorporating distributed moment sources, accounting for a similar proportion to on‐fault sources. The direct strain methodology also aligns best with the independent geological slip rates, especially near fault tips. As high‐resolution strain rate fields become increasingly available, we recommend direct inversion as the preferred practice.