RealPage Revenue Management Helps Campus Advantage Optimize Performance
When Campus Advantage partnered with RealPage Revenue Management, they were able to make the right decisions regarding rent optimization.
The University of Missouri was preparing for a student enrollment of 40,000 by 2020. But, starting in 2015, new construction along with a series of protests at the school contributed to a significant decline in enrollment.
While closing on-campus housing may often translate to a benefit for off-campus housing, the reduced demand was too great to offset the remaining student supply in the market.
The solution: A collective of three Campus Advantage properties partnered with RealPage® Revenue Advisor to identify realistic occupancy targets in a weakened market. They also discussed marketing efforts and pre-leasing progress while leveraging competitive rent data to make informed decisions regarding rent optimization opportunities.
The RealPage Revenue Management tool proved its effectiveness in supporting student housing operators navigating tough markets for ultimate outperformance, whether the challenge is declining enrollment or a health crisis such as COVID-19.