Due Dilligence While Looking at 100+ Units Student Housing

[Himanshu Jain]

Hi I am looking at buying  and raising money for a 100+ unit Student Housing and I was wondering if people can share some thoughts on what to focus on during due diligence especially from the student housing of that size.

[Jeff Greenberg]

The DD would be the same as MF with some additional items.

1.PM experience with student housing, lease up and marketing to this niche.

2. Size and stability of the school

3. Distance from the school

4. Distance to shuttle or public transportation

5. Ability to bike to school

6. Number of student vs number of on campus rooms

7. Can the students commute from home?

8.  When is the lease up window?

9. How will you compete or not compete with new properties coming on line

10. Amenities

11.  Should you rent by the bed or by the unit?

12. How can you get in school advertisement or referrals.

#1 is the most important item.  You want someone that knows your market and how to drive the students to your facility.