Student Housing: Profile/Alternatives
Our student housing studies provide you with a clear understanding of the
existing student housing market, and give you the data and focus you need to
implement the most effective student housing strategy.
We offer these services on two levels. The first level is a thorough
market overview based on a complete market study and analysis of the subject
market and enrollment trends at the subject institution. The second level,
building on the field survey data, identifies potential development alternative
strategies to best serve the student housing population. We have extensive
experience working directly with universities to identify student housing
needs.
Our analyses are based on an analysis of the relationship
between existing and projected supply and demand based on our 100%
field survey of the Effective Market Area (EMA) and an analysis of area
demographics.
Supply Analysis
Supply is determined through:
- A 100% field survey of Effective Market Area modern apartments, with
emphasis on the student housing population of each development.
- When appropriate, a field survey is conducted identifying other student
housing alternatives, including single-family/double rentals
- An analysis of on-campus alternatives and housing occupancy trends
- Data from the US Census Bureau
The supply of apartments is analyzed to identify rent and vacancy trends of
units by unit type, number of bedrooms, year built, ccomparability rating, and
percentage of student occupancy.
Demand Analysis
- A profile of historical and projected enrollment trends is conducted for
the subject institution
- If necessary, telephone or intercept surveys can be conducted to identify
student housing trends and perspectives on available housing options.
Our second level of analysis can identify potential support for a variety of
student housing: on- or off-campus apartments, or housing designed for target
student groups: undergraduates, graduate students, married students,
professional students,
These conclusions/recommendations include:
-
Identification of existing and potential support for targeted student housing,
with support identified separately for each targeted segment
- Optimum unit mix, number and size (number of beds) recommendations
- A unit and project amenities package competitive with area developments
- Projected absorption--at initial lease-up, an overall average absorption
rate and absorption impacted by turnover if absorption is extended beyond
standard lease terms
- When appropriate a discussion of the subject site’s site and floor plan
from a market perspective, identifying areas where design may hinder market
response
- Competitive Analysis. When appropriate, potentially competitive projects
are compared with the proposed project and analyzed in detail, including a
detailed look at floor plans, entry impact, storage space, unit and project
amenities, and pricing.
- Marketing strategies for the proposed project may be discussed if
appropriate.
-
A comparison of proposed rent to expected market-driven rent at opening
based on a Comparable Rent Analysis. The Comparable Rent Analysis allows for
determination of market-driven rent for projects of any amenity level by
using a regression analysis to analyze project rent in conjunction with its
Comparability Rating.
- An analysis of potential turnover vulnerability for the proposed project.
Our research indicates that the largest single source of tenant
"drain" from any development is the apartment communities in the
EMA priced within step-up range of the subject community.
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More about Danter and Associates student
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