University of New Hampshire

Operational Assessment

Varsity Place Apartments – Focused on NOI Enhancements

Campus Advantage was contracted by a portfolio owner to conduct an operational assessment for several properties serving students at the University of New Hampshire. This operational assessment focused on identifying issues or challenges related to market factors, staffing and leasing, and operations and facilities. Campus Advantage made specifically targeted recommendations for changes or improvements that could result in achieving the higher occupancy and NOI for the property.

Market Factors considered for this property included:

• Successfully leasing a very large variety of unit types
• A large number of recent and upcoming developments
• Marketing and residence life improvement adjustments
• Recommendations focused on increasing returning resident ratios

Staffing and Leasing

• Recommendations to develop a full residence life program
• Incorporating resident events as a part of the marketing plan
• Employing a social media plan

Operations and Facilities

• Property tax recommendations
• Overview of benefits and efficiencies of offering inclusive rates

Campus Advantage team members interviewed site staff, toured the communities, and surveyed the market. Operational data, sales reports, current rent rolls, and budgets provided by the owner were also reviewed. Additionally, interviews were conducted with the Durham City Planner to gain insight into future developments planned for this market.