Property Management Blog

Managing Your Investment Perks Student Renters Look for in an Apartment Community

System - Tuesday, August 15, 2017

When college students start searching for and looking at off-campus housing options, they consider more than just rental rates, proximity to campus, and neighborhood safety. Now more than ever, student renters look for extra perks and amenities that apartment communities offer, wanting to get the most benefits included in their lease.

To entice more college student renters to choose your properties, you may want to consider adding certain features or including various amenities in the rent so more students pick your apartments. Here are some perks student residents look for in an apartment community.

1. Online payments

An amenity you may not have considered as a perk college student renters will be interested in is the easy ability to make payments online — whether it is rent, electric, cable, gas, water, etc. Many landlords still require renters pay each month by check either in person or by mail, which is annoying for college students.

When student residents are looking at off-campus apartments, include as a fringe benefit that you have an easy system or website for renters to pay bills online in a secured way. This will not only make it easier for you to get the rent payment on time but also your student renters will appreciate the convenience.

2. Inclusive Wi-Fi

Since college students are pretty much plugged in 24/7, offer high-speed internet in your apartment complex as a huge perk to draw student renters. Offering Wi-Fi throughout your complex with the cost built into the rent means your students don’t have to worry about finding an internet provider on their own that services the area and enables them to sit anywhere in your complex to connect to the Wi-Fi available.

While many property owners do not offer Wi-Fi to renters, providing it to your residents, even for an added fee each month, is a perk that student renters will love and notice since it means less work and hassle for them, plus a reliable internet connection.

3. Outdoor space

Being able to hang out, study, or eat outside is a benefit many college students value when they are looking at apartments. If an apartment complex has an outdoor area with furniture, a grill, lighting, etc., it will make college student renters that much more interested in signing a lease with you.

Having an outdoor space will help your student renters connect and establish a sense of community and also be a nice benefit they can take advantage of during the warmer months. This area does not need to be super fancy, but simply having a place like this can be a great selling point and is an added perk appreciated by many college students.

4. Ample parking

A perk many students look for in an apartment complex is parking. Parking in or near a college is often difficult to find, which means you offering a place for student renters to park is something they will notice. Offering parking spots to renters, with either one spot included in the lease and another available to purchase or just offered for a fee to residents will entice student renters to seriously consider your property. If you don’t have a parking lot by your apartment complex, student renters would also appreciate the offer of subsidized or free street parking.

5. Laundry

Besides offering laundry services within your apartment complex, consider making the washer and dryer cheaper. Oftentimes, the machines provided are expensive — or do not work. Firstly, residents and potential residents will care if the laundry machines are in working order, so you should keep on top of that and not delay in fixing them if they do break.

Secondly, if there are only two machines for the entire apartment complex, it may be difficult for renters to find time to use them when they are not being used or when it is convenient. Investing in more laundry machines and ones that are durable will be much appreciated and student renters will take note of this when they are looking into apartments to rent. If you can also lower the cost of using the machines or make the payment more convenient, that will prove very helpful to renters as well.

Other perks you may want to consider implementing or offering include bike racks, bigger closets, larger kitchens, and an indoor common area that could be used for movie nights, studying, and apartment community-wide events. In any case, having the above-mentioned perks or amenities in your apartment complexes will increase the number of student renters interested in leasing from you and motivate them to renew their leases as they’ll be happy with the benefits your apartment complex affords them.

Source: rent.uloop.com

Ashley MeadAuthor: Ashley Mead