CORT Case Study: Prairie Pointe Student Living
Trying to gain new residents in a competitive student rental market, Prairie Pointe needed an edge to attract students to its brand new facilities.
Prairie Pointe Student Living opened its doors in May 2013 with the goal of bringing commuter students back to the city’s community college campus. The company’s management needed to distinguish the new property from other similar apartment offerings nearby, which is where CORT came to the rescue.
While its competitors only offer students furnished units, Prairie Pointe was able to give its tenants freedom of choice with CORT’s help. CORT created a whole property lease that allows Prairie Pointe to rent bedroom sets at a low monthly cost to students who do not want to bring their own.
In its first year in operation, Prairie Pointe rented 25 bedroom sets from CORT—a number that increased to 42 sets during its second year in business. Going in, Prairie Pointe had estimated that ten percent of students would rent furniture, but the property has averaged between 12 and 20 percent rental rate.
About Prairie Pointe Student Living
Prairie Pointe Student Living is located right next to the Ankeny Des Moines Area Community College (DMACC) campus. Its newly constructed 3 and 4 bedroom apartments offer private bedrooms, private bathrooms, suite-style living, in-unit laundry, and two refrigerators per unit. Plus, the clubhouse hangout includes a coffee bar, theater room, tanning booth, and fitness center.
"Knowing that they have a choice has given us an edge. "
Michelle Ogden, Property Manager, Prairie Pointe Student Living
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