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Q3 2019

Welcome!

The truth is, until now, you’ve had to settle for “less than” in Student Property Management software. And as a result, you’ve made it clear you need more: more capabilities, more functionality, more ease, more simplicity and more flexibility.

We heard you. And we responded with a purpose-built, fully integrated, powerful and flexible platform—one you can’t find anywhere except RealPage®. And our industry is starting to take notice. Hence the movement to RealPage Student. It’s a movement because it’s more than just software—it’s a better way to work. And because in order to win in Student, you need all the right tools—not just some of them.

With this newsletter, our aim is to keep you informed on everything you need to know about today’s Student Housing market, RealPage Student products and services, and upcoming and past events. It’s required reading for anyone in Student Housing.

Keep Moving Forward,
Whitney Kidd, VP Student Market, RealPage

Student Housing Market Update

It’s that time of year again: the return of “The Turn.” (That’s a blockbuster movie we’d pay to see!) The experts at RealPage recently published a pair of blogs at Property Management Insider, discussing technology and its role in helping you manage this crucial time:

In “Student Housing: Turning to Technology for the Turn,” “ Jennifer Hewett of OneSite Multifamily Solutions explains how to handle this stressful transition by creating a streamlined process—using automation whenever possible—as well as using an integrated single vendor.

Like almost everything in life today, facilities management software has gone mobile. Find out how mobile apps can help operators improve turn times and save money in “Conquering Student Turn with Mobile Technology.”

Renter Engagement Software for Student Housing

“The Turn” can be chaotic. Every property manager would love a unified solution to help support move-in, move-out, sourcing service vendors, and all of the other tasks that need to be handled urgently.

The RealPage® Student platform was developed to be that integrated solution. It’s your built-for-student, 360 degree platform that provides flexibility, scalability, efficiency and predictability. Boost occupancy, maximize revenue, and minimize risk while you take control of The Turn!

DOWNLOAD EBOOK

We had a great turnout from industry pros at “Join the Movement!” during RealPage Student Summit 2019. If you missed the event—or just want to read a very brief summary—here’s what happened:

  • 42 attendees at RealPage® HQ in Richardson, Texas
  • 15 sessions covering the Operational and Executive/Investor tracks
  • Keynote address from national speaker, author, and “Millennial Evangelist” Karen McCullough, who spoke about generational change and workforce trends
  • Expert panel discussion on the state of the investment market
  • Executive panel discussion on the art of leadership to affect culture, employee engagement, and driving portfolio performance

We’re grateful for the high marks our attendees gave us:

“The content was fantastic, I have four pages of notes! I’m leaving here energized and I’m excited to take this back home.”
—Emily Austin, Director of Marketing, Waypoint Student Living

“This is a function that’s invaluable for us. Growing relationships with our reps from RealPage, and having product folks in front of our team who hear our feedback and then actually put it into the software for the next update—that means a lot.”
—Adam Byrley, CEO, Preiss Company

“We know that there’s a lot of disruptors out there, and we have to be ahead of the curve and always forward-thinking. I appreciate RealPage being on the same page as us and trying to come up with solutions before issues arise. It’s definitely a ‘must’ to attend.”
—Lenny Wright, VP Student Housing Operations, Campus First

“It’s a lot of fun to sit in these very engaging discussions. When you come to Student Summit, you get to step outside of the day-to-day and see other products, talk to peers—as well as find out what they’re thinking about adopting, why, and how it works if they’ve already adopted it.”
—Courtney Gordon, SVP, RISE Real Estate

Webcasts

Missed our Mid-Year Student Housing Market Update webcast? No problem! You can view it on-demand and see Jay Parsons (VP, Asset Optimization) and Carl Whitaker (Market Analyst) take a deep dive into the student market. Some highlights from the webcast:

  • The current performance for Fall 2019 national pre-lease is shaping up to be very similar to 2018
    • The typical college towns are leading in pre-lease velocity
    • Those that are lagging behind are usually facing issues with enrollment or development activity
  • There’s been a slow decline over the past several years in rent growth, but 2019 is at 1.8% (compared to 1.6% for 2018)
    • Through May 2019, properties closest to campus are seeing stronger rent growth
  • The annual rent change leaders are largely among the nation’s pre-lease leaders
  • The number of beds delivering has stabilized in recent years
    • New supply volumes have held steady, with 2019’s expected volume matching the cycle average
  • About 75% of total beds delivered between during 2011-2019 are less than 0.5 mile from campus
    • A clear trend this cycle = an increasing share of properties delivering closer to campus
    • This trend also led to significantly more high-rise properties being developed
  • The appetite for student housing investment is still quite strong
    • Investment activity has increased from early cycle levels and stabilized over the past few years
  • Taking an early look at 2020, there doesn’t appear to be much changing on supply side
    • Next year should closely match 2019 construction volumes, 7 of the past 10 years have been consistently in the range of 43K-48K beds
    • The expected 2020 supply leaders have heavily developed this cycle
    • Most of the 2020 leaders experienced aggressive development since 2011
  • Enrollment growth saw an increase in momentum for the first time since fall 2014
    • Millennials (22-37) are aging out of prime college range, with the population stabilizing at about 4.2 million by individual ages by year
    • The rate of high school graduates enrolling in college has held steady over the past two to three years
  • The hosts also spotlighted the University of Nevada-Reno, Louisiana State University, Florida State University, and Virginia Tech
  • Overall, 2019 doesn’t look very different from 2018—; but it’s always smart to be campus-specific


Catch up by watching it here