Amenities are a big selling point for many college rental properties.
Between pools, fitness centers, and tanning beds, some properties are starting to look more like an all-inclusive resort and less like a college student’s apartment complex.
With all of these new bells and whistles, are these added amenities causing a hike up in prices or are they being used more like a selling point to attract students?
The answer is simply that amenities are not the largest selling point in the college rental market.
A bare-bones apartment property with nothing extra could still be twice the price of another complex depending on location. With most colleges and universities offering fitness centers to students, having a full functioning fitness center at “home” is nothing more than a convenience.
Student demographics tend to favor properties closer to campus.
Because of this, the farther a student goes from campus, the more likely it is that rent prices will drop in student housing properties.
This is mainly because the complex is well aware that being such a distance from campus can be seen as an inconvenience to their target demographic.
However, some students enjoy a separation from the campus life and seek out the complexes a little further away.
On another note, some properties close to campus will have a lower price tag because they are a little less up to date interior wise.
There will always be anomalies to this standard.
This rule of disregarding amenities for location in terms of pricing also only appears to apply to college student rental properties as amenities are a huge pull of other demographics.
If being close to campus is important to you, don’t worry just start looking for your apartment early to lock down more affordable prices. Websites like College Rentals, make it easy to compare prices, amenities, and location between apartment properties.
Need help finding your perfect apartment? Let us know!
Equal Housing Opportunity
