Investing in real estate has the potential to diversify your finances, and student housing remains a popular market for those who live near universities and colleges. As you have likely figured out by now, however, it takes more than putting a “For Rent” sign in an apartment window to attract possible tenants. How to market student housing can be difficult to determine, as there is no surefire way to find students who want to rent your apartment. Thankfully, there are strategies that can make it easier. In the end, what will work for you will depend in part on where you live; how far you are from campuses, shopping centers, and public transportation; and enrollment trends at schools. By keeping these factors in mind as you read, you may be able to spot productive ways to market your student housing to undergraduates and graduates, leading to contracts signed.

Make your property be more than just a place to live.

When you rent to college students, your tenants are likely to get a little homesick from time to time. After all, for many of them it will be the first time they have ever lived away from home, so while it is an exciting time, it can also be a little stressful. You can help them through these rough patches – and develop a great reputation – by creating a real community for them.

To do this, get a little creative. For example, if you are marketing off-campus apartments in Koreatown near UCLA, you have a goldmine of options, as the area is full of rich cultural traditions. In October, during Chuseok (the South Korean version of Thanksgiving), you can invite students to your clubhouse to try some songpyeon. If you have University of Washington summer housing, then you know you live in the midst of paradise. Why not organize some outings to nearby parks or a monthly kayaking trip at Puget Sound? The more activities you can organize that are easy to do and allow tenants to get to know each other, the more of a community you will have. That can lead to good buzz throughout the university, which is exactly what you want.

Remember to build a solid reputation by focusing on the fundamentals.

It doesn’t matter how many bells and whistles you have – if your maintenance people are slow to respond, no one is ever in the office, fixtures are outdated, or the area feels unsafe, you are going to see a lot of turnover.

A lot of the off-campus student housing near UCLA has gotten good reviews simply because the owners attend to problems as soon as tenants report them. Other off-campus housing with positive reports include Brigham Young University, the University of Alabama, and Clemson University. 

One important thing to remember is this: don’t be afraid to be strict about noise and damage. You might lose a few tenants here and there, but by maintaining a quiet, well-run property, you can only benefit in the long run.

Renewal specials can be your best friend for marketing your student housing.

No matter what you do, of course, you will always have students move out, but let’s face it – moving isn’t really a lot of fun. If you have fostered a great community and taken care of the fundamentals, your tenants will want to stay instead of going through the move-out hassle. A few months before their lease is up, offer attractive renewal specials that will make it easy for tenants to say yes. 

Cultivate brand ambassadors in order to market your student apartments.

Student influencers can be crucial to boosting your occupancy and renewal rates. The key is to identify someone with a large social circle and following on social media. What kind of legal incentive can you give them to promote your property on Facebook and other platforms? Owners of some UCLA graduate housing, for example, have found students who are great at spreading photos and positive reviews of the properties. Be careful, of course, to stay within FTC guidelines.

In the end, stay flexible, and you will find new ways to promote your student housing.

Trends change from year to year: the number of students attending a school may drop or increase, and a new social media platform may become all the rage. So, the best advice is for you to stay aware of what’s happening and to be ready to pivot with your student housing marketing plan when the opportunity presents itself. In the end, though, remember: it’s all about the fundamentals. Manage a well-run, pleasant property, and your tenants will find you.

Tripalink creates co-living communities and student housing opportunities across the United States. We simplify the apartment search to reduce the cost of living, create beautiful homes, and help both students and young professionals find a community in their city. For more information about Tripalink and co-living, please see www.tripalink.com.