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How many students can afford to live in a gated complex, with a 24-hour security guard,
a video monitoring system and a complete amenity package? More than you think.
In fact, off-campus student housing is quickly losing its Animal House reputation.
Today's students are willing to pay the extra bucks for the big amenity packages, and
mom and dad have no problem paying more for 24-hour security. So how do you break
into what some call "luxury" student housing? For starters, form a relationship with
the university closest to your complex, says Lori Moon, an independent property
management consultant.
Moon recommends working with the university and local apartment association to
sponsor off-campus housing fairs. "It is the best marketing that you can ever do," she
says. She recommends having giveaways that students can use that will make them
remember the complex, such as pens, highlighters and cups. Or grab their attention
by advertising in the college newspaper.
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Forming Alliances
Most colleges will provide students with an off-campus housing list of local complexes that have a reputation of being fair to students, says Nathan S. Collier, president and CEO of Paradigm Group Inc., which is based in Gainesville, Fla. Being on this list helps attract out-of-state and international students, says Collier.
Inviting a representative from the college to check out your complex is also a good idea, explains Mike Curxan, CEO of UniDev L.L.C., based in Atlanta. Having the university as a reference is probably the best recommendation a complex can get, he says.
But Jean Moyer, director of communications at Integroup, Inc., based in Gainesville, disagrees. She believes that referrals from friends or residents is a recommendation that other students will trust.
JPI takes advantage of all the opportunities a university offers, says Beth L. Thompson, regional vice president of JPI. Besides advertising in the college and local newspapers, JPI also advertises on the college and local radio stations. "During lease-up season, we will have a remote radio broadcast at the site. It gives us a lot of exposure," says Thompson.
And for properties that can afford it, having a 30-second television commercial with resident testimonials and an "MTV look" is another way of grabbing students' attention, adds Moyer.
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