AUSTIN, Texas — During this past leasing season, Campus Advantage achieved astounding retention, occupancy, and rental rate growth across the portfolios it manages. The company achieved a record 47 percent returning resident ratio portfolio-wide and a 96.4 percent occupancy rate among the Campus Advantage-controlled housing portfolio for the 2014/2015 school year while delivering an average effective rental increase of 2.9 percent.
The company’s student housing portfolio resident returning ratio and occupancy rates have continued to climb in recent years and exceed those seen last year. They are just the latest examples demonstrating how Campus Advantage has established itself as an industry leader in portfolio management.
“Each year we continue to not only meet but surpass our own resident retention goals,” said Mike Peter, President and CEO of Campus Advantage. “Due to the financial impact a renewal has, we have placed great emphasis on our residents’ experiences through the Students First™ program and our innovative marketing strategies.”
“The reason that Campus Advantage is so effective in portfolio management is its strong commitment to its Students First™ residence life program, as well as the company’s innovative, customer-focused processes and efficient systems,” he said.
Recent successes achieved by Campus Advantage on behalf of its investment partners and clients include:
- Campus Advantage increased net operating income (NOI) by 21 percent for its portfolio with Heitman LLC and grew revenue by 13 percent while completing $15.4 million in capital improvement projects.
- Properties in a third-party investment portfolio saw occupancy increase from 55 percent to 95 percent year over year and revenue increased 46 percent during that same period.
- As part of another third-party portfolio, Campus Advantage fully rebranded four properties consisting of 3,900 beds and realized a portfolio occupancy of 95 percent in the year following the transition.
To improve efficiency and provide seamless customer care for its residents, Campus Advantage implemented OneSite Documents and OneSite Payments across its portfolios this past year. A large number of Campus Advantage’s properties signed over 80 percent of their new leases online. This helped the company exceed its occupancy goals by making the leasing process more convenient for students and parents.
“We are constantly looking for ways to make our operations more efficient,” Chief Operating Officer Scott Duckett said. “This allows us to not only better serve our residents but also keep close tabs on our operating expenses so that we can deliver a significant ROI to our clients.”
The company’s award-winning Students First™ Residence Life program hosted nearly 3,500 events this past academic year with an attendance of more than 100,000 students. Campus Advantage is in its third year as a National Corporate Team partner with Relay for Life, and its communities surpassed $100,000 raised for the American Cancer Society.