The one-size-fits-all approach might work with headbands and wooly hats. But in the multifamily industry, there are very few cookie-cutter solutions.
A key component to creating a user-friendly experience, for both prospects and existing residents, is to develop catered solutions based on the type of resident you’re aiming to attract. Yet many multifamily operators go about their student-housing practices in the same manner as their conventional processes.
While the vast differences in student leasing seasons must first be considered, catering to student residents is more than just understanding their unique leasing timelines.
Here are some additional components student-housing operators should consider to cater to the student experience:continue
Apartment operators have pricing structures for conventional homes down to a fine-tuned science.
For the student-housing sector, well … not so much.
On the conventional side, virtually every price-related contingency plan has been created and successfully implemented. The industry has a deft understanding of when to raise and reduce rental rates, adjust for seasonal factors and modify strategies in order to reach occupancy goals.
Student housing is an entirely different entity, however. Most revenue management software was built for the conventional sector, meaning student-housing operators often utilize a system not tailored to their needs. It can be like attempting to put together pieces from separate puzzles.
While recent tech innovations are steering toward solutions to solve the disconnect between student housing and pricing, here’s a look at the challenging factors that surround the issue—and ways they can be conquered.
You are invited to enter for a chance to win one of eight (8) prizes during Entrata’s 2020 Base Camp, from March 5, 2020 through March 6, 2020 (the “Contest”). Participants will be able to earn raffle tickets (herein after “Entries”) by the following:
● One entry per session will be given to Participants attending a breakout session; with the possibility to earn an extra ticket in the session at the Entrata trainer’s sole discretion;
● one entry will be given to a Participant by scheduling an appointment at the User Lab & User Experience HQ;
● one entry (not to exceed three entries in total) will be given by showing a designated Entrata employee at the Registration Desk the following:
o a qualifying social media (Facebook, Twitter, Instagram, and LinkedIn) post that has been tagged with @entratasoftware with the hashtag #EntrataBaseCamp o Showing evidence that you are following @entratasoftware on one qualifying social media platforms.continue