7 Student Housing Trends Property Managers Should Understand

Students are one of the most sought-after target markets for landlords and property managers.

The student housing industry is a lucrative business, with purpose-built student accommodation (PBSA) worth an estimated $16.4 billion globally, according to Savills 2017 – 2018 World Student Housing report. Universities and colleges are continuing to expand their campuses, and international student numbers are rising, which is good news for the student housing sector.

As the demand continues to grow, property managers need to stay up-to-date on the latest trends in the student housing industry. On the other hand, understanding student housing trends can help you anticipate changes in the market and make sure your property is appealing to students.

Although the student housing market is constantly evolving, there are some key trends that property managers should be aware of.

1.) Increased Privacy

One of the biggest concerns for students when choosing a place to live is safety. In recent years, there has been an increased focus on privacy and security in student housing, with many new developments incorporating features such as gated entrances, CCTV, and secure access systems. Students choose to live in these types of environments because they feel safer and more secure.

Today, many students are also looking for apartments that offer private bedrooms and bathrooms. This allows them to have their own space and more privacy, which is something that they value highly.

2.) Technology

Students today are digital natives who have grown up with technology. They are used to having instant access to information and expect to be able to use technology in all aspects of their lives.

When it comes to student housing, this means that they are looking for apartments that offer high-speed internet, Wi-Fi, and other tech amenities. Because of this, many student housing developments are now incorporating co-working spaces, study lounges, and other communal areas where residents can access the internet and work on projects. So, as a property manager, it's important to make sure that your student housing development is up-to-date with the latest technology.

3.) Going Green

Gen Z is far more environmentally conscious than any other generation before them. They are constantly looking for ways to be more sustainable and often seek out housing options that allow them to do so. From solar panels to energy-efficient appliances, today’s students want to know that their housing is doing its part to save the planet.

Before the COVID-19 pandemic, many students were already choosing to live in smaller spaces and apartments closer to campus so they could reduce their reliance on cars. Now, with more people working and attending classes remotely, that trend is only likely to continue.

With this in mind, property managers should consider ways to make their student housing more sustainable. From investing in solar panels to offer electric car charging stations, there are several ways to make your student housing more appealing to eco-conscious students.

4.) Living-Learning Communities

An increasing number of colleges and universities are offering living-learning communities (LLCs) on their campuses. These are residential communities where students with similar interests and academic majors live together.

For example, there might be an LLC for engineering students or another for business students. These communities provide students with a supportive environment where they can bond with their peers and get the most out of their college experience. Property managers who are in charge of student housing apartments should be aware of this trend and consider offering LLCs at their properties. This is a great way to attract and retain residents, as well as provide them with a valuable college experience.

5.) Modes of Transportation

With the rise of ride-sharing apps like Uber and Lyft, students have become used to having on-demand transportation at their fingertips. This has led to a decrease in the number of students who own cars, as they can easily get around without one.

In addition, many colleges and universities are now offering bike-sharing programs, which allow students to use bikes for short trips around campus. This is another trend that has led to a decrease in the number of student-owned cars.

6.) Wellness Features

In recent years, there has been a rise in the number of student housing developments that offer wellness features. This includes things like fitness centers, yoga studios, swimming pools, and saunas. Students are looking for apartments that offer these kinds of amenities because they want to be able to live a healthy lifestyle. Not just on the physical aspect but also the mental and emotional ones.

The student housing industry is starting to understand this and is beginning to offer more of these kinds of features in their developments. There are reports of suicide rates among college students increasing, according to Centers for Disease Control data, so property managers need to be aware of this and offer features that will help students stay mentally healthy.

7.) Gender-Neutral Housing

Gender-neutral housing is another trend that is on the rise in the student housing industry. This type of housing allows students live together of any gender, regardless of whether they are romantically involved. This is becoming a popular option for students who want more flexibility and freedom when it comes to their living arrangements. Student housing trendsetters like the University of California, Berkeley, have already implemented gender-neutral housing options on their campuses.

ExactEstate, Your Trusted Student Housing Property Management Software

ExactEstate is a property management software that was created specifically for the student housing industry. We offer several features that are designed to help property managers run their businesses more effectively.

• Quick Move-ins/Move-outs
• Easy Inspections
• Visitor Management

If you're interested in learning more about our software, please contact us today to set up a demo.

Conclusion

As the student housing industry continues to grow and evolve, property managers and owners need to stay on top of the latest trends. By understanding the trends, they can make the necessary adjustments to their properties and operations to ensure they're providing the best possible experience for their residents.

Some of the key student housing trends that property managers should be aware of include LLCs, on-demand transportation, wellness features, gender-neutral housing, and the rise of student housing developments near campus. With these trends in mind, property managers can make the necessary changes to their properties and operations to ensure they're providing the best possible experience for their residents.