Fall is almost here, and after a sweltering summer of many triple-digit days here in Texas, we’re very much looking forward to a cool breeze. This time of the year also signals a significant moment within the student housing industry: turn. In a matter of weeks, residents move out and new residents move in. Although it’s a brief window of time, it’s the single event that defines who we are as an industry — and more specifically, who we are as a company. How we perform with turn and how we deliver move-ins during those first six weeks of school truly sets us apart from the competition.
Our mission as a company dedicated to creating successful communities would not be possible without the efficient follow-through of turn and everyone involved to ensure it’s done well. From our first-rate site and operations teams to our tireless road warriors getting things ready for 25,000 students that will be calling our communities home this upcoming academic year, we couldn’t do this without you.
One of my favorite aspects of turn is hearing all the behind-the-scenes stories about overcoming challenges, quick thinking, and dedication to excellence. It takes a strong, well-trained team to move with the ebb and flow of all the nuances involved during turn, and at Campus Advantage, we have the best. I applaud you all and am so grateful for your hard work and tremendous effort.
Speaking of move-in, this also gives us reason to celebrate with an impressive number of our communities joining what we like to call the 100 Club — 100% occupancy — with more nearing that coveted number. Our newest asset, The Stretch, also hit budgeted occupancy and exceeded rent roll for the 2022–2023 academic year.
According to College House, which reports on over 1.14 million beds across 245 markets, national pre-leasing is at 92%, whereas our owned asset portfolio surpassed our pre-leasing goal. Well done, leasing team.
We’re also happy to announce that Dena Costello joined our team this summer as Vice President of Business Development. She will be responsible for driving new revenue for our third-party management and consulting platforms. Dena brings more than 20 years of real estate industry experience to Campus Advantage, which includes student, multifamily, commercial, consulting, new development, and operations, and we’re thrilled to have her as part of the executive team.
Looking ahead, our industry is promising. We’re already planning and preparing for renewal season — another key leasing moment at our communities that annually confirms our reputation for providing superior living experiences for our residents.
Enjoy the rest of your summer, and I wish everyone continued success to finish the year strong.
Mike Peter, President and CEO
CAMPUS ADVANTAGE AND CATALYST REPRESENT AT NAA
In June, a team from Campus Advantage and Catalyst, our marketing partner, presented at the National Apartment Association (NAA) Apartmentalize conference in San Diego, California. The annual multifamily industry conference provides educational sessions on a number of topics from thought leaders and industry experts.
Christy McFerren, President of Catalyst; Lindsay Brown, Senior Vice President of Leasing and Marketing at Campus Advantage; and Lauren Goodman, Creative Director at Catalyst, hosted a session titled “Marketing in the Metaverse — NFTs, Crypto-Friendly Campaigns, and Virtual Reality.” The presentation covered background about the metaverse, including the debated definition, the technical framework that’s giving rise to its popularity, where we are in the hype cycle, and why and how real estate marketers should care about it and craft campaigns in the space.
CAMPUS ADVANTAGE LAUNCHES NEW WELLNESS COLUMN
As a company dedicated to creating successful communities, we understand the key to that success is our first-rate team at Campus Advantage. We value a culture where team members thrive with a work-life balance, and an essential component to that is an increased focus on mental health in the workplace. To support this effort, we launched a column in June written by Kaitlyn Vicars, our Human Resources Manager, that features a variety of resources and information covering various aspects of wellness.
THE RESIDENT’S TURN EXPERIENCE: COMMUNICATION UNLOCKS A 5-STAR REPUTATION
If you’re in student housing, it’s turn season and that means it’s reputation season. A mainstay of turn is the effect it has on our communities’ reputations, and in this seemingly short window of a leasing year, we are subject to reviews, surveys, and other forms of feedback about how we operate, what we can do better, what we did well, and more. Mark Renkens, CX Manager and Reputation Management expert at Catalyst, highlights critical strategies to help avoid the turn-time blues and how it all comes down to effective communication.
Promotions and New Hires
Welcome to the Team
Dena Costello — Vice President of Business Development
Tony Boetto — Real Estate Analyst
Tammy Ferovick — Accounts Payable Manager
Rebecca Snyder — Learning and Development Coordinator/Instructional Design*
Christopher Romero — Controller
Will Faulkner — Accounting Manager
Sylvia Huang — Senior Accountant
Alexandra Rostek — Senior Accountant
Nicholas Mobilia — Director of Investments
Surya Peddigari — Director of Business Intelligence*
Student Housing Investments
Student housing’s recession-resilience makes it a solid investment to buffer your portfolio during times of economic uncertainty. If you, or someone you know, is interested in participating in our private fund, please inquire. Campus Advantage specializes in all aspects of student housing — operations, marketing, consulting, development, and acquisition — and has delivered excellent returns for over a decade. Learn more about our investment fund opportunity.
Do you know a passionate, motivated individual who wants to be part of a company that encourages, supports, and inspires employees to achieve their full potential? One that is committed to cultivating and developing a diverse and inclusive culture? A culture that also believes in taking our work and our communities, but not ourselves, seriously?
At Campus Advantage, our team is the core of our success. We hire based on experience and character, keeping an eye to diversity, equity, and inclusion for everyone. We seek out new team members who are passionate about making raving fans of our residents and clients — and having fun while doing so!
If you know someone who fits this description and would like to be part of a team who loves what they do, check out our open positions and send them our way!
OUR LATEST CONTENT
As a seasoned veteran in the student housing industry for almost 20 years, Campus Advantage has a proven track record of creating successful communities with a specialty in third-party management, investments, and consulting services. We know the ins and outs of this industry well and routinely exceed expectations for our partners and properties. Whether you’re interested in a particular off-campus asset or seeking to invest in a nationwide portfolio, there are some key points a new entrant in student housing needs to know.
Dionna Taylor’s passion for making the most out of the life she’s been given is contagious, especially when it comes to assisting her residents at NORA and NOLAN — sister communities located in Seattle, Washington. As a Community Assistant since 2020, Dionna’s solid reputation as a knowledgeable customer service expert has recently garnered a significant promotion to Resident Director, which is a natural transition for one who ensures residents are thriving in every way possible. And as a University of Washington student double majoring in psychology and communication, her empathy and understanding to relate and assist the communities under her care is truly genuine.
Chris Romero brought his accounting experience to Campus Advantage 2.5 years ago when he transitioned from the rental car industry to the student housing industry — a career move marked with promotion. He first joined CA as a Property Accountant, followed by Accounting Manager, and then was recently promoted in June to Controller. In his new role, Chris is responsible for supporting, reviewing, and ensuring the timely and accurate preparation of financial statements and account reconciliations for assigned properties, as well as assisting operating units with analysis and process improvement.
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