Posted by: phillipsre | December 17, 2013

Student Housing Facing Some Struggles

studen housingUntil recently, student housing was considered a recession-resilient investment because students go to school during good and bad economies and landlords manage to raise rent even during downturns. But lately, some landlords are having to waive application criteria and throw in gift cards, just to get tenants into units. This article from Wall Street Journal, discusses how some of the smaller owned properties are not being taken care of as well as others properties and are now being compared to the newer developments which are more  welcomed by students who get more choices and fancier amenities. It is not surprising that some private owners of aging properties are having a hard time competing.  At University Fields, located in Harrisonburg, Va. Developers have built approximately 310,000 off-campus student beds in the past decade. A record 51,000 new off-campus beds were delivered this academic year alone, with more than 50,000 expected in 2014, according to real-estate research firm Axiometrics Inc.  The only way for private owners to compete with the big developers and win back students will be to upgrade their current properties. One private owner is planning his  renovation projects, which will include a resort-style pool with a new deck, private cabanas and complimentary poolside towel and lotion service. Sounds like a pretty nice deal for a college student!

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  1. […] recently shared a story about how Student Housing is on the decline, on the other side of that coin, it looks like the 55+ Housing Market is on the […]


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