Furniture That Fits 

Ted Rollins is Chief Executive Officer and Co-Chairman of Campus Crest Communities—a Charlotte, N.C.-based student housing REIT that develops, builds, owns and manages communities nationwide. Here, he discusses the role of furniture in the student housing industry.

units magazine: What standard pieces do you purchase for student housing rooms?

Rollins: Headboards and bed frames, nightstands, dressers, desks, desk chairs, dining tables, dining chairs, ottomans, sofas, lounge chairs and side tables.

units: What do most students seem to expect from a furnished unit?

Rollins: Most students expect less than what we offer because they are used to a lower quality of furnishings that they had in the dorms where they previously lived. We always strive to provide a higher quality of furniture.

units: What is something unique you’ve done in your common areas?

Rollins: One of the more interesting things that we recently designed was our “Liquid Lounge”—a seating area in our pool with plastic furniture. Our residents have really enjoyed it.

units: Do you have a certain philosophy when considering cost vs. convenience and comfort?

Rollins: We want our furnishings to be some of the best in the industry, and at the same time, be very durable. We don’t cut corners and we try to maintain a very standard look that is similar to that found in Pottery Barn.

units: What is the lifespan of most pieces of furniture?

Rollins: We have communities that are 5 and 6 years old that still have the original furnishings. Of course, we replace some pieces as needed, but for the most part, the furniture remains in great condition. Your furniture will last longer if your property is well-managed and residents are held accountable.

units: How has your furniture style evolved?

Rollins: Our furniture was designed for us in conjunction with our construction group and our supplier partner, FOB. The design has evolved somewhat, but our furnishings have stood the test of time. One shift has been replacing the coffee tables in the living room with ottomans, which have been well received. Additionally, we have shifted away from having a whole bed set and now use a headboard together with a platform. This year we added a storage component under the beds.

How to Market Furnished Units

Marketing furnished units to college students requires a special skill set. These students are often transient, skeptical and cash-strapped—not to mention savvy shoppers and bargain hunters—making them a part of a difficult market to penetrate. Reaching this audience takes patience, but the benefits could pay off. Following are tips to stand out in the student housing market:

1. Focus on your audience. Put together packages and products that fit a college student’s lifestyle. For example, consider smaller furniture items for New York City students who live in apartments with limited space.
2. Spread the word. Few students are aware that furniture rental is an option, so it is very important that the leasing agents ask every potential student resident if they are interested in a furnished unit. Just asking this question greatly increases the number of students who will rent—and be grateful they were spared the aggravation of having to move twice.
3. Know their budget. Students often have limited resources and may be managing their finances for the first time in their lives. Make sure the products fit their price range and provide good value.
   Also, explain that furniture rental can minimize the hidden costs associated with moving, including a rental truck, taking days off of work to move and potential hotel stays for parents. Rental furniture can be dropped off and picked up “on demand,” sparing students and parents from hauling furniture into the student’s apartment on move-in day. Let parents know you’re reducing the number of back aches and damaged walls they would have to deal with otherwise.
4. Understand students’ needs. How can your product help improve a student’s daily life? Does it simplify their daily routine, provide more storage or help them stay organized? Is the furniture flexible or multi-functional? Are you providing them with a broad selection of products that will enable them to express their individual style and preference? The answer to all of these questions should be “Yes.”
5. Advertise locally. Local advertising opportunities are usually more meaningful to students and their parents. For example, target student or school publications, school groups and organizations, and work with them to place advertising.
6. Show, don’t tell. A mobile showroom is a particularly useful tool to have onsite during lease-up parties, grand openings and community events. When students can see what a furnished apartment actually looks like, rather than just hearing about the products, they’ll be more inclined to sign on the dotted line. 

Churchill Corporate Services, CORT, University Loft Company and FOB contributed to this report. 

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