Navigating Property Taxes for Student Housing

Written on December 18, 2017 at 01:50 PM

Property tax professionals lend their expertise on tackling student housing property taxes.

By Amy Bigley Works | Student Housing Business

Managing property taxes and ensuring the best valuation can be challenging for any commercial real estate property type, but for student housing owners and operators the process can be even more daunting. Student Housing Business spoke with student housing property tax experts to gain insight and recommendations for coming out ahead in the property tax and property valuation. Larry Backus, North Texas market leader, was one of the experts to share his knowledge and expertise on property tax for the student housing industry.

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Categories: Real Property, Paradigm Info, Multi Family, Student Housing

Student Housing Sales Outperform the Rest of the Market

Written on May 19, 2017 at 11:50 AM

Many commercial real estate investors have been sitting on the sidelines so far this year due to high prices, a lack of properties on the market, and uncertainty surrounding interest rates and federal policy. The investment sales market has been off to a very slow start compared to 2016. The volume of apartment properties of all types bought and sold in January and February was less than half compared to the year before. Student housing, however, is beating the trend. If investors keep buying and selling student housing at this rate, they will match the record-setting acquisition volume of 2016, despite a long list of larger market challenges that could have slowed the pace of transactions.

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Categories: Real Property, Multi Family, Student Housing

Amenity Trends Shift as Proximity to Campus Drives Student Housing Performance

Written on March 28, 2017 at 04:42 PM

Student housing communities have been engaged in an amenities war for quite some time now; but as close proximity to campus becomes the strongest performance driver, developers need to be much choosier when it comes to their properties. Picking out amenities was a much easier job just a few years ago when many student housing properties were built a mile or more away from campus, where a development could sprawl over 20 or 30 acres. While student housing communities are still competing to provide the flashiest amenities, it is imperative developers are ultra-selective as they build on tiny urban sites where space is at a premium.

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Categories: Real Property, Multi Family, Student Housing

Student Housing Sector to See Surge in Demand

Written on August 22, 2016 at 03:35 PM

As the early results of the student housing fall leasing season roll in, the sector will continue to attract new investors and the bidding for properties will likely intensify. Occupancy rates are on track to meet or even exceed the high levels set last year as the market easily absorbs the new student housing beds that get delivered. Properties are pushing rents and still maintaining leasing velocity, which will spark a higher volume of transactions this fall despite investors already acquiring a tremendous volume of student housing properties this year. But the sector's strong fundamentals and success isn't all that surprising, as the share prices of the two student-housing REITs are soaring.

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Categories: Real Property, Multi Family, Student Housing

Student Housing REITs Are Earning Top Grades

Written on August 03, 2016 at 03:18 PM

While college students might not seem like the ideal tenant for landlords, the share prices of the two student-housing REITs are soaring. Shares in Education Realty Trust, a Memphis-based landlord whose earnings report met Wall Street expectations, are up 54 percent in the past year. American Campus Communities, the only other publicly traded student housing landlord, is up 44 percent. By comparison, a Bloomberg index of North American apartment landlords is up 12 percent over the same period. 

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Categories: Real Property, Multi Family, Student Housing

Off Campus Hotels Have Untapped Potential to Accommodate Overflow of Students

Written on September 14, 2015 at 11:26 AM

As college enrollments soar around the globe, more students are forced to look for accommodation outside of dorms or typical off-campus housing. Hotels have untapped potential to accommodate the overflow of students at college campuses, yet the hotel sector has been slow to take advantage of this fledging base of demand. The number of students worldwide wanting a university education grew 78% to 176 million during the past decade, according to Class of 2020, a nonprofit that aims to further the professionalism and knowledge of student housing in Europe and beyond. That number is forecast to increase to 263 million by 2025.

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Categories: Real Property, Hospitality, Hotels, Student Housing

Evolving Trends in the Student Housing Sector

Written on September 02, 2015 at 12:46 PM

As investor interest grows in the student housing sector, several industry leaders discussed the biggest trends over the last five years and those emerging today with the National Real Estate Investor. One of the biggest trends over the last five years that continues today is the over-amenitization of student housing properties. In some markets, developers consistently add luxury amenities, like lazy riverpools and rock-climbing walls, when this only escalates construction costs and caters strictly to affluent students. Implementing the best, most consistent Internet and information technology features, however, is the most appealing amenity to student residents across the board, who typically have three to five devices connected to the Internet at any given time. Looking forward, student housing owners need to ensure they increase engagement with their technology service providers to be sure they are providing residents with high-quality services that meet their needs.

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Categories: Real Property, Multi Family, Student Housing

Connecticut House Passes Bill Imposing Property Tax on Hospitals, Private Colleges

Written on May 22, 2015 at 08:19 AM

In an effort to increase local government revenues in communities with a high number of tax-exempt properties, the Connecticut House passed a bill yesterday that would require hospitals and private colleges to pay property taxes. While several schools and hospitals have testified against the bill due to the financial burden, supporters of the legislation say the large entities are "nearly indistinguishable from traditional private sector businesses." House Bill 6965 is now headed to the Senate and then to Gov. Dannel P. Malloy, and if approved, towns with a lot of student housing could see a significant revenue gain.

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Categories: Hospitals, Real Property, Connecticut, Student Housing

Investors Rush to Buy Student Housing Assets

Written on May 04, 2015 at 11:04 AM

Investors are pouring money into student housing properties, as new buyers, including high-net worth individuals, private equity fund managers and institutional investors, continue to enter the market. And now that REITS have returned after a short hiatus due to some bad earnings hurting stock prices, property prices for student housing assets are climbing even higher, making it a great time to be a seller.

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Categories: Real Property, Multi Family, Student Housing

Houston Developers Continue to Stall Multifamily Projects Amid Low Oil Prices

Written on April 01, 2015 at 08:56 AM

As oil prices plummeted to near six-year lows over the past several months, some multifamily developers are stalling their proposed projects and development plans in Houston and shifting their focus to other markets instead. Asset Plus Cos., the nation’s largest privately owned apartment and student housing developer, is the most recent company to announce a Houston hiatus due to the oil slump.

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Categories: Real Property, Apartments, Multi Family, Texas, Oil - Gas - Energy - Utilities, Student Housing

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