Technology and connectivity are critical today, especially for college students. As a property manager or owner, creating spaces conducive to student living and learning and understanding how your property can impact the entire student experience will be a huge differentiator.
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Over the past 10 years, Millennials (individuals born between 1980 and 1995) have been the primary target for hotels and student housing communities alike. Many hotel chains have launched minimalist brands to appeal to this population, and student housing developers have tailored their design concepts to be Millennial-focused with minimalist, modern features, co-working spaces, and open-concept lounges.
Most anyone could look at student housing, which is being occupied now by digital natives in Gen Z, and state that obviously technology is going to continue to grow and impact this market. But technology just for the sake of technology isn’t advantageous to student housing operators, nor is it particularly attractive to today’s student residents. After all, if it was, you’d be seeing each lease come with an Internet connected crockpot or toaster. It’s the technology products that truly impact “the way we interact with our world” that will have the largest effect on student housing.
Developers need to future proof their buildings. The pandemic has left an indelible mark on how and where we work, play, and live - a recent NMHC survey showed that over 91% of apartment residents say high-speed internet is an important factor when considering an apartment with nearly 75% stating that Wi-Fi should be pre-installed. According to that same survey, an additional 69% of residents indicated that community Wi-Fi ranked as an important amenity.
As a real estate and technology professional, when I had the opportunity to tour a brand-new multifamily apartment complex, I was excited to see the types of property technology,also called “proptech,” that the developer installed and what new tech would be available to the residents in this beautiful, well-constructed building. As I entered into a model unit, I was impressed with the FF&E (furniture, fixtures and equipment) finishes, the high quality, and the attention to detail of the unit layout. It was easy for me to envision the elevated experience anyone would encounter while calling this place home.
"Cable TV is dead."
We have all heard this statement, and we’ve seen articles building up the ‘cord-cutting revolution.’ Consumers are absolutely cutting the cord from traditional television in large numbers, and students maybe even more so. However, while we may not be watching TV in the traditional methods as much, statistics show that we are consuming as much video as before, if not more.
Over the past 5-10 years, Millennials (individuals born between 1980 and 1995) have been the primary target for hotels and student housing communities alike. Many hotel chains have launched minimalist brands to appeal to this population, and student housing developers have tailored their design concepts to be Millennial-focused with minimalist, modern features, co-working spaces, and open-concept lounges.
