Marketing & Leasing
There is no greater example of our expertise and efficiency than our marketing and leasing systems.
After implementing a community’s strategic marketing plan, we utilize our proprietary Leasing Administration and Marketing System (LAMS™) to administer and monitor the implementation of the marketing plan and subsequent leasing activities. LAMS™ is a sophisticated, web-based system customized for student housing. We developed it internally to provide a real-time link from our home office in Austin, Texas, to each of our managed properties. Our corporate marketing and leasing staff is able to administer and monitor the following areas on an up-to-the-minute, real-time basis:
- Monitoring traffic and building our prospect database — Whether it be from walk-ins, telephone inquiries, website hits, attendance at promotional events, etc.
- Prospect follow-up – All follow-up to students and parents is automatically generated, disseminated and monitored by LAMS™ and on-site staff.
- Measuring marketing effectiveness — We continually evaluate which marketing mediums and related expenditures are driving traffic and producing actual leases. We continually make adjustments to the marketing plan and reallocate marketing dollars accordingly
- Leasing statistics — We monitor lease-up by unit type, leasing velocity compared to same periods in prior years, and an array of proprietary statistical comparisons that indicate when pricing adjustments are necessary
- Future period rent rolls — Rent rolls for the upcoming academic period are automatically generated by LAMS™ based on current and projected leasing results, providing accurate cash flow forecasting and reliable budgeting
Market Research & Planning
We begin each new management assignment by conducting in-depth research to ensure every aspect of the market and community is identified and understood:
- We first identify and analyze all current student housing product offerings in the market.
- Next, we determine where the subject community fits within the market from a product positioning and pricing perspective.
- Finally, all current and emerging variables are analyzed related to increases or decreases in supply and demand, such as new off-campus communities or enrollment changes from evolving admission policies.
After completing an in-depth market analysis, we develop a strategic marketing plan that includes:
- Specific marketing message based on our product position and pricing strategy
- Market segmentation with identification of targeted student segments prioritized in the order of their likelihood to lease at the subject community
- Identification of marketing mediums to be utilized in delivering the message to each targeted student segment along with frequency and scope parameters
- Development of a complete marketing budget, schedule and a detailed action plan related to full implementation of the marketing plan