Industry Voices

Alexis Krisay: Summer Leasing Necessity — Selfie Tours

Engaging your prospects through Selfie Tours is this summer’s hidden gem to ensure that your property stays top of mind and is the first place they think of when making their last minute housing decision. While students may be out of the market for the summer holiday, they are not out of reach.

Tactics like selfie tours and digital tours of your property allow prospects — and their parents — to see the personality of your property through the leasing consultants’ eyes and enable them to feel like they are there walking through the property. These videos can then also be repurposed for social content and boosted on Facebook to target the top infill cities that your property’s prospects live in.

Alexis Jones: New Federal Rules Mark Cultural Shift for Many Companies by Redefining Limits for Exempt, Nonexempt Employees

Changes to the Fair Labor Standards Act (FLSA), which governs federal minimum wage and overtime pay requirements, will require many student housing management companies to re-examine the classification, pay and job responsibilities of property-level employees in order to comply with the new rules by the time they take effect on Dec. 1.

FLSA was created in 1938 to define standards for the number of hours worked in a workweek and overtime pay, requiring most employees in the United States be paid overtime pay for all hours worked over 40 hours in a workweek. That said, FLSA provides exemptions from overtime pay for those who fit specific categories defined by their job duties, not their job titles. To qualify for exemption, employees must meet two tests: a duties test and a wage test.  

Joseph DeBuck: Here’s An Idea That Benefits Both Owners/Operators and Residents

The student housing industry is going strong. The bed count has grown by leaps and bounds and the quality of the assets that offer those beds has increased. Great locations, nicer accommodations, more amenities; it just keeps getting better for student residents.

While this eruption of innovation and progressive thinking continues to evolve, owners/operators/management companies all work toward the same fundamental goal — fill their beds and maximize profit. But “easier said than done” doesn’t begin to describe the challenges student housing companies face. Generally, the time-honored practice to fill beds is to entice the prospective resident with some sort of tangible benefit in the form of an incentive. Typically, the owner/operator/management companies absorb the cost of the incentive, citing the age-old business axiom, “it takes money to make money.”

Michael R. Ytterberg: Serving the Graduate Student Market with Market Rate Design

There’s no question that urban areas are experiencing an influx of millennials who seek an experience rich lifestyle. Upon moving to a new city, matriculating graduate students enter law, business, medical or other professional programs a bit older, with years of work experience and savings, or with parents who are willing to support them. Their tastes are a bit more refined, but they still want to find living arrangements that are not isolating and that have a strong sense of community, like what they experienced as undergraduates.

Colin Kish: Dear Landlords, Safety Matters to Your Prospective Renters

Many landlords focus on the big-ticket items when marketing their property, showing off amenities like the vast clubroom with the state-of-the-art fitness center, the resort-style swimming pool, or the model unit with stainless steel appliances and granite countertops. Often overlooked are the safety features your rental has, or maybe lacks. Normally, one of the top amenities renters look for is the safety of where they live.

Pete Zimek, Brianne Kocher: 7 Deadly Sins of Email and Why You Should Care

Just when you thought you could put your leasing team’s email on cruise control, email providers have gone and changed the game. Think about these statements for a moment:

Kayla Storlid: Save Time and Stay Sane — A Turnover How-To

The logistics can be a nightmare, and the chaos can be overwhelming. People have meltdowns and even quit. Meanwhile, the clock is ticking and nothing short of an act of God can stop the inexorable march of… new students arriving! That’s right, I’m talking about the hectic time known as apartment turnover.

Jeremy Andreoli: Millennials on Campus: What – And How – Are They Watching

When it comes to television consumption, Americans are increasingly on two separate tracks. On one side, the vast majority of consumers are watching television the same way they always have. With many younger viewers, television isn’t necessarily even just on TV anymore — it’s increasingly consumed as streaming video on mobile devices, tablets, computers and more.

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