Industry Voices

Larry Satkoski: About Those Ad Word Buys…

Restoration Hardware’s CEO, Gary Friedman, made a startling revelation that should be a warning sign to all property owners and managers bidding for key words on google. He describes a recent meeting with his online marketing team with regards to increasing ad word spending: “We’ve found out that 98 percent of our business was coming from 22 words. So, wait, we’re buying 3,200 words and 98 percent of the business is coming from 22 words. What are the 22 words? And they said, well, it’s the word Restoration Hardware and the 21 ways to spell it wrong, okay?“

Jindou Lee: Mobile Inspections Increase Safety, Decrease Disputes, and Streamline Student Turn

The student housing industry faces a unique challenge among residential businesses: end-of-year turnover. Millions of young people across the United States move out of student housing at the same time, and within a few days, a whole new group of residents moves in. This mass exodus and influx can be a challenge for property professionals as the frantic pace of turnover between academic years makes it difficult to track students down to discuss charges for repairs and maintenance as everyone scatters to the four winds the moment the term is up. Managing risk becomes a major hurdle, as well, with so many people moving in and out at once, and accidents caused or exacerbated by hazards on the property can be very costly for owners.

Dan Urbina: Keeping Up With Millennial Students

Gone are the days when students would fill out a form to live in your apartment, answer your phone calls, or even write you a rent check. What IS a rent check anyway? I’m 39 and I haven’t owned a checkbook in over 15 years. So what exactly are students staring at when they walk on campus, sit in class and lie in bed? Software as a service (SaaS). This includes Netflix, YouTube, Snapchat, Mint, Facebook, Twitter, Instagram, Tinder and LinkedIn. SaaS is the drug of choice for millennials, who don’t want to dial a phone number or stand around in a leasing office. They want to “tap” their way into a new apartment while “talking” to a leasing agent as little as possible. We now live in a society where time is short and attention spans are even shorter. Welcome to the future.

Wilson Blake: Why Cabinet and Countertop Partners are Critical in Timely Student Housing Delivery

Is there anything more important than opening on time? In the student housing industry, timing is everything. Developers can’t extend deadlines or move out completion dates, period. The partners you choose for your cabinet and countertop scope are crucial allies in on-time delivery. Working with an experienced partner who understands the student housing business will save you worry, headaches and potential late delivery.

Russell Guynes: The Real Reason Your Best Employee Resigned

As their manager, you say, “Why didn’t you let me know earlier?” when one of your top employees has decided to resign and turn in their two week notice. They answer your questions and provide a reason which puts no fault to you when they state, “it is an incredible opportunity, I just couldn’t turn down,” but is that the real reason?

Andrew Marshall: Providing the Best Internet Service to Students

There are many reasons why an off-campus student housing resident may be unhappy with their internet service. In the student housing industry, it’s long been understood that poor internet service is one of the leading causes of resident dissatisfaction and that this can lead to lower renewal rates and ultimately lower economic and physical occupancy.

Jeremy Schmidt: Making the First Contact Count

The moment a student finds your property, checks out the photos, reads feedback and decides to reach out to set up a showing — that’s the perfect moment for any owner or property manager to build on. An excited potential renter is a landlord's dream. Renters don’t want to keep researching, keep getting their hopes up and keep looking for a place. They want to make the decision. They want to live with you.

Greg Wachalski: How to Make a Public-Private Partnership Work Long Term

Public-private partnerships are here to stay, certainly for revenue generating facilities like student housing, but also beyond as some of the larger transactions (University of Kansas and UC Merced) have demonstrated over the last couple of years. While outsourcing appears to be an efficient way to deliver facilities, many institutions struggle with challenges that often surface after a project’s completion. One way to avoid disappointments is to evaluate each project early in the process with an emphasis on risk transfer opportunities. Construction projects can be very complicated and carry many potential risks. However, most of the risks will fall into three broad categories:

Subscribe to this RSS feed

More News