Asset Living, the nation's top student housing operator, celebrates high occupancy averages and competitive rent growth that can be attributed to an effective property management strategy in 2023.
HOUSTON, Dec. 5, 2023 /PRNewswire-PRWeb/ -- Asset Living, the nation's top student housing operator, celebrates high occupancy averages and competitive rent growth that can be attributed to an effective property management strategy throughout 2023. The company's academic year-end statistics indicate that Asset Living's student housing portfolio, ranked No. 1 by Student Housing Business for third-party management twelve years in a row, will continue to see exceptional results heading into 2024.
"Looking back at this past academic year, our student housing properties achieved an impressive 95% occupancy rate, surpassing the industry average of 93%," said Asset Living's Division President Stacey Lecocke. "Our student housing teams also outpaced their direct competitive set, which fell behind by 11% – coming in with only an 84% occupancy rate."
Rent growth is another indicator of a thriving student housing market, and Asset Living's student housing team achieved a 7% rent growth rate for the academic year because of the company's ability to provide value to both property owners and residents. In addition, Asset Living's new development team has achieved a 96% pre-leasing success rate, outperforming the industry average of 78%. And more notably, six property sites reached a perfect 100% occupancy rate.
"Despite facing unprecedented construction delays in 11 out of 15 projects, our student housing team demonstrated resilience and adaptability, ensuring successful outcomes," said Lecocke. "We have been proactive in expanding our portfolio and year-to-date, we have successfully onboarded 30 new properties, showcasing our commitment to growth and delivering exceptional service to our clients."
Asset Living has also been actively involved in several programs and initiatives that have contributed to the success of the student housing portfolio, including a strong partnership with digital marketing agency Poetic that has resulted in increased marketing and digital services consumption, enhancing Asset Living's ability to reach and engage with students.
"We also offer a robust client dashboard to our clients, so they have access to real-time in the moment results that allows them to look at the data alongside our team of experts to make proactive business decisions," said Lecocke.
Promotions from within Asset Living's student housing portfolio have also been a hallmark of the company's commitment to career development and growth. Seven community managers have been promoted to regional managers, which is a testament to Asset Living's investment in its talent.
For more information on Student Housing Business or the Top 25 lists, visit the website. For more information regarding Asset Living's expertise in student housing, visit the service page or reach out directly to contact an expert on the team.
About Asset Living
Founded in 1986, Asset Living ("Asset") is a Houston-based real estate management firm. With a growing portfolio that includes a multitude of properties across the nation, Asset provides services to a variety of clients that include property management, asset management, receivership, and investment services. Asset is a member of The Institute of Real Estate Management (IREM) and is recognized as an Accredited Management Organization (AMO). To learn more, please visit http://www.assetliving.com.
Media Contact
Alison Walsh, Serendipit Consulting, 6027410866, [email protected], www.serendipitconsulting.com
SOURCE Asset Living
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