The Best Student Housing Incentives for College Residents

Student Housing Incentives for College Residents

More and more students are choosing to live in off-campus housing than ever before. On average, 80% of students choose to live off-campus instead of campus dorms. One of the best ways to ensure students choose you over a nearby competitor is through incentives and brand awareness initiatives. 

College students love free stuff, giveaways, and discounts. If you really want to grab your audiences’ attention and get them to sign a lease, then here are the best student housing incentives to use!

Hold a Giveaway

A classic incentive that drives results, especially for college students, is holding a giveaway — Who doesn't love free stuff? Here are a few strategies for your giveaway to be one to remember. 

Your giveaway needs to be exciting and worthwhile. You have to get their attention with a prize that your target audience can’t refuse. Do some research and pick a prize that is related to your property brand and valuable to college residents. For example, a brand new flat screen TV to put in their new apartment. :)

Pop Up on Campus

The perfect place to meet your residents right where they are is on campus grounds. With permission from the university, plan a pop up to build brand awareness to your target audience. 

Pop ups are a great way to build credibility and establish trust. Have free snacks, drinks, and merch available for students to grab on the way to class. Build your reputation by getting to know your potential residents and establish relationships with your community whether or not they sign a lease. 

Host a Resident Event (Bring a Friend)

How do you get potential residents to visit your property? Host a bring-a-friend event at your apartment community by encouraging current residents to bring a friend to the event. Your residents enjoy a fun night with their friends while potential residents are given the chance to see what your property is all about. 

Some themes that are guaranteed to be a great time are pool parties, barbecues, game nights, and holiday parties. Whatever theme you choose, make sure your property is in tip top shape and your team members are on their best behaviors.

Renewal Specials

Within student housing, you’ll have lots of turnovers between graduating seniors and transfers; however, renewals are still just as important. Running renewal specials can help encourage current students to stay with you for the upcoming year instead of searching for a less expensive apartment.

Offer a discount on rent for residents who renew early. Renewal specials not only attract current residents, but it also eliminates some cost you would spend in finding a new resident to replace them. This is a great incentive to save you and your current resident’s time and money.

Meet The Parents

A sector of your audience that you can’t forget about are the parents of your current and future residents. Most of the time in student housing, parents are the final decision makers so it’s crucial you put effort into swaying them toward choosing your off-campus community.

There are many ways to involve the parents. Sending a handwritten thank you letter to the parents or guardians of the college resident for selecting your property is one way to go the extra mile. Another is emailing a Starbucks gift card or hosting a “Meet The Parents” get together during move-ins.

Student Brand Ambassadors

College students are more likely than any other generation to be active on social media platforms. Since the pandemic, micro-influencers have increased engagement rates by an average of  130%, making them the highest engaged groups on Instagram.

Leverage the rise in micro-influencers by working with a brand ambassador (a college resident with a large following on social media) to showcase your property on their stories and posts in a genuine and authentic way. An important step in this process is incentivizing brand ambassadors through a form of pay or other compensation. If you choose to compensate (we highly recommend you do), then make sure they follow all FTC guidelines.

Implementing these creative and effective student housing incentives & initiatives will build your community brand, help establish relationships with current & future residents, and also give your prospects that extra push they may need to make the decision to choose your off-campus community. 

For more student housing ideas, read our blog How to Reach Student Renters on Social Media!