AUSTIN, Texas, Oct. 9, 2012 /PRNewswire/ -- Campus Advantage, a leading student housing company, has achieved an unprecedented 46 percent returning resident ratio and 95 percent occupancy among its managed student housing portfolio for the 2012/2013 school year. The company achieved these high rates while delivering an average effective rental increase of 4.54 percent.
Mike Peter, President and CEO of Campus Advantage, said industry standards project that on average only 30 percent to 35 percent of student housing residents will renew their leases each year. Campus Advantage's 46 percent returning resident ratio marks a significant accomplishment for the company, which manages 48 student housing communities across 20 states.
"Each year we continue to not only meet but surpass our own resident retention goals," Peter said. "That says a lot about our company and our team. It's about providing outstanding service to our customer -- the student -- and consistently providing them with the best living options available and the best value at every one of our communities."
Campus Advantage prides itself on providing students with a living experience that goes beyond just putting a roof over their heads, he said. It includes supporting them with community programs and activities that cover everything from how to study to tips for success in life after graduation.
Katy Smerko, National Director of Leasing and Marketing, said students are demanding more from where they live – not just in terms of amenities but in a sense of community that is offered. The company also makes it easy for students to transfer from one of its properties to another so that they can live in a community where they feel most comfortable.
"We provide residents the best living experience, at a great value, in a positive and engaging environment," Smerko said. "The fact that our resident retention rates continue to climb year after year is evidence of that. Next year, we're going to set the bar even higher, and I know we'll clear it."
About Campus Advantage
Campus Advantage is an Austin-based real estate firm that offers student housing management, development, acquisition and consulting services. The company works to create winning partnerships between colleges, universities, investors, developers and owners in an effort to help students achieve their academic and personal goals. For additional information, please visit http://www.campusadv.com.
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SOURCE Campus Advantage