August 1997

Understanding the Market Know the university calendar, like when the school is holding preview weekends, orientation and finals. Those are indicators of the busiest times for leasing agents, says Collier. Before those events, property management companies should post flyers on campus and if possible, include them in university information packets. Janice Stephens, property manager at South Oaks in Austin, Texas, finds that personal contact is a good way to entice students. Representatives from South Oaks, a Camdem Property Trust complex, visit students at the University of Texas with care baskets or cookies, along with literature about the complex. Other places that you might want to advertise in include throw-away magazines sponsored by the university, suggests Collier, the Internet and rental guide booklets.

But telling students about your complex is not enough. Managers and owners need to know their market to know what prospects' needs are, says Moon. It is important to know if the students in you area are looking for affordability or for a rich amenity package.

For example, students in Blacksburg, Va., where Virginia Polytechnic Institute and State University is located, are looking for individual bedrooms and their own bathrooms, says Moon. They also want extra amenities like a cleaning service, fitness facilities and a swimming pool.

Tennis, volleyball and basketball courts are also popular with this demographic. Students are also looking for microwaves, dishwashers, garbage disposals and security systems. Washers and dryers have also become a priority in units.

Providing Campus Amenities

Many students want the freedom that living off-campus brings but also the privileges that living on campus offers -- like being able to hook up to the university computer network or turning on the university television station and attending class from the comfort of their living room, says Greg Almquist, founder and CEO of Education Environments, based in Atlanta.

Tying into university technologies is something that Collier, from the Paradigm Group, believes is important. In the company's newer communities, there are computer labs with Macintosh and IBM computers, Internet access, copy machines, faxes and scanners.

All of Integroup's student properties have computer centers plus double phone jacks in the bedrooms. Paradigm units each have four phone lines to handle the communication needs of residents. Although Internet access is not provided in the units, Collier helps residents find a provider.

JPI also offers computer labs in the complexes marketed to students. Curzan believes it is important for apartments marketing to students to be tied into the university's computer network.

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