Campus Advantage white paper offers tips to help student housing developers avoid pitfalls

AUSTIN, Texas - May 20, 2016 - PRLog -- Campus Advantage has found that student housing developers don't always do their homework and often finalize new development plans and start construction without first hiring an operator, who can help them avoid many of the pitfalls that may hinder future occupancy and revenue growth.

Mistakes such as oversupplying the market with a poorly designed unit mix or underwriting unrealistic operating expenses can take their toll on a new student housing community when it opens its doors to residents. In its 13-year history, Campus Advantage has worked closely with student housing developers to plan, open and manage new communities and has seen what works and what doesn't.
In a new white paper released by the company, the company's experts offer the following 10 steps that should be considered when preparing for a student housing development project:

1.    Engage a student housing operator to perform a market assessment and feasibility study.
2.    Study the pipeline of future developments.
3.    Solicit feedback on your unit mix.
4.    Incorporate the operator's preferred unit layouts.
5.    Design your amenity space with your operator.
6.    Connect with the university during the design phase.
7.    Know your student demographic.
8.    Develop a realistic operating pro forma.
9.    Create a brand that speaks to your demographic.
10.    Find the right temporary leasing space.

Campus Advantage's Madison Meier, director of business development and transitions, describes these steps in-depth in the white paper titled, "Ten Steps to Prepare for Your Next Student Housing Development," which can be downloaded at http://www.campusadv.com/ten-steps-prepare-next-development.

"Student housing operators who also serve as consultants have the ability to assess both future enrollment growth and housing supply, as well as analyze how it will impact demand in that market," according to the white paper. "Plus, they are able to apply their operational expertise from other markets to identify leasing opportunities and recommend design features that will differentiate the development and return optimal revenue."

The white paper offers tips for involving an operator in the market research, planning and design phases to solicit unbiased feedback on the feasibility of the project and incorporate operational efficiencies into the development plans.

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About Campus Advantage
Campus Advantage is an Austin-based real estate firm that offers student housing management, development, acquisition, and consulting services. The company has been creating successful communities since its founding in 2003.  Its proven expertise and time-tested approach creates better student living experiences, which in turn creates financial success. For additional information, please visit http://www.campusadv.com.