Student Housing Information Session Designed for Laurier Brantford Landlords January, 2011 Presented by Chris Eley - Manager of Residence Mark Taylor –

Student Housing Information Session

Designed for Laurier Brantford Landlords

January, 2011

Presented by Chris Eley - Manager of Residence

Mark Taylor – places4students.com

Who Are the Students?

How Many Students Are There?

Considerations

What are Students Looking For?

What Does the Market Look Like?

Who Are the Students?Who Are the Students?First-year students looking for second year

(and beyond) accommodations

Age:◦Strong Majority: 18-19 years◦Minority: 19+ years

Gender:◦Roughly 65% of residence students are female

Who Are the Students?Who Are the Students?WLU residence buildings

◦Apartment-style◦3 to 10 students per apartment◦All residences retrofitted in last 10 years◦Amenities of the University

Off Campus Housing◦Is housing for students that is not a University

Residence building“Student Housing”

◦Only applies to rental housing marketed to or designed specifically for students – there is no legal definition under any level of government.

Millennial CharacteristicsMillennial CharacteristicsDemand a secure, regulated environmentComfortable w/ technology (email, cell, web)

82% online dailyRespectful of norms and institutionsComfortable with diversityDisrespectful of authority, but look to adults for

guidanceFind it hard to work without peersGoal orientedStressed

Millennial ParentsMillennial ParentsImmediate resultsDo not like to disengage from each otherEmotional connection“Co-purchasers”Offer to help manage, like to negotiateComplex families

Strategies for MillennialStrategies for Millennial

Regular, friendly, communicationClear and reasonable with expectations and

promises outside the RTA - put your commitments in writing and KEEP THEM!

SAFE, secure, clean, unitsHow you provide it is a good indicator of how

you expect it returned to youWould you want someone you care about living

there with you as a landlord?

Strategies for MillennialStrategies for Millennial

Keep leases simple, and LEGALThorough and lengthy are okayIn conversational EnglishPromises in writing, and follow through (or

explain and discuss solution)Accept that parents want to be involved, and

work with them - they can be an asset

Number of University StudentsNumber of University Students

• 2,650 Students for 2010/2011

• 700 joint students• 20 Masters’ students

• 1,200 students

Approximate Student NumbersApproximate Student Numbers2010-2011:

2,650 total Students

Residence = 20% of Students (70% of FYS)(Approximately 450)

Communters = 35% of Students(Approximately 1,000)

Off-Campus Housing = 45% of Students(Approximately 1,200)

Approximate Student NumbersApproximate Student Numbers

5 Year Plan (2011‐2016/2017)- 4,000 FTE Students (1000 residence beds)

6 – 12 Year Plan (2017‐2022/2023)- 8,000 FTE Students (2,800 residence beds)

13 + Year Plan ( 2023 and Beyond)- 15,000 FTE Students (5,200 residence beds)

Limiting Growth FactorsLimiting Growth Factors

FundingLandDeclining Population

Market TrendsMarket TrendsPeak House-Hunting:

◦January – March◦Current First-Year students looking for Second-

Year housing◦2010-2011: Estimated 400 students

“2nd Peak”:◦June – August◦Incoming First-Year students NOT living in on-

campus residence 17-18 years, very few 18+

◦2011: Estimated 100 - 150 students

MarketMarket2010: *CMHC Rental Market Statistics, October 2010

◦4628 total units◦172 vacant◦Vacancies:

1 bedroom – 4.3% 2 bedroom – 4% 3+ bedroom – 1.8%

◦Average Rent: 1 bedroom - $695/month 2 bedroom - $778/month ($389/room) 3 bedroom - $839/month ($279/room)

The Ideal UnitThe Ideal Unit

3-5 bedroom detached property

Single bedroom$350-$410/month

all inclusiveUnder 15 min walk

to campus1 washroom for

every 3 students

Key Leasing CharacteristicsKey Leasing CharacteristicsLength of Lease

◦ Open, 4, 8, 12 months

Price Point◦$250-$600

Location◦ Walking Distance?◦ Bus Route?

UtilitiesServices

Cable, Phone, Internet

Physical UpkeepGrass, Snow

ParkingIncluded or Free?

LaundryFurnishingsNew Paint

SafetySafety

Considerations: ◦1” solid core deadbolts◦Screens◦Windows◦Trimmed bushes and trees◦Lighting◦Timers

Fire SafetyFire SafetyAny concerns or questions please call

BFDWorking Smoke Detector on each level

◦New batteries with each new tenantFire ExtinguisherFire Exits/Doors

Useful LinksUseful Links

Off Campus Housing Website◦ www.brantford.mylaurier.ca/offcampus

Places 4 Students website◦www.places4students.com

Useful LinksUseful Links Municipal Affairs and Housing

◦ www.mah.gov.on.ca

Town & Gown Association of Ontario◦ www.tgao.ca

OACUHO◦ www.oacuho.on.ca

Office of the Ontario Fire Marshall◦ www.ofm.gov.on.ca

City of Brantford Fire Department ◦ 519-752-0540

Questions?Questions?