Launch
Location: West Lafayette, Indiana
100%
Occupancy for Multiple Years
55%+
Renewed Residents in 2018
8%
Rent Growth
THE CHALLENGE
In 2016, Campus Advantage was engaged by an owner/operator of a conventional 731-bed multifamily community in close proximity to Purdue University. The community marketed mostly to young professionals and was struggling to reach occupancy over 75%.
THE SOLUTION
Campus Advantage took over management and Catalyst, Campus Advantage’s marketing partner, was engaged to rebrand the community to better appeal to students and graduates. Campus Advantage’s Students First® residence life programming was implemented, along with a strong marketing and leasing campaign. The community underwent capital improvements, which were highlighted in the new marketing materials.
THE RESULT
With the new marketing approach to strategically target students, and by improving the overall resident experience, the community was able to reach 100% occupancy in both 2017 and 2018, renewed over 55% of residents in 2018, and achieved 8% rent growth following the community improvements.
