How to Lease to Today’s Students
Digested from AppFolio
The market is flush with high-tech new developments, but getting the basic amenities and pricing package packages right can be an enticement for many students.
It is often said that if market-rate apartment managers want to what to offer tomorrow’s residents, they need to look to today’s student market.
For today’s students, AppFolio’s Elizabeth Millar encourages operators to focus on the basics. Before thinking about the nice pool, focus on the Wi-Fi.
“A good rule of thumb for any property management company that is looking to offer more appealing amenities to students will want to focus carefully on things needed to study, spend time with friends and stay active,” Millar writes.
To market to those students, Millar suggests online property descriptions, pictures and videos. If possible, online leasing can provide a great differentiator.
Millar contends that most students do not need the bells and whistles offered in today’s luxury offerings, instead preferring the simplicity in having their utilities paid and all-inclusive options where they only have to pay one bill. “Many of them will want to have privacy, as well, but may find that they need to share with roommates,” Millar writes. “The more affordable an apartment or other forms of housing are, the more likely students will choose it, as long as it gives them a safe, clean place to live.”