Above: Chapman Grand in Anaheim, CA (This asset is not affiliated with CrewCampus REIT)
When it comes to unlocking value in student housing, Crew Campus has built a reputation for unlocking value regardless of market conditions. This article outlines the amenity-driven strategy we use to potentially boost returns—and how anyone involved in student housing can benefit from applying the same principles.
I. The Strategic Value of Student Housing Amenities
Student Housing and the Evolving Amenity Landscape
Student housing is a competitive space where apartment communities must innovate to attract college students. Today’s students expect more than just a roof over their heads—they’re looking for features that enhance their lifestyle, including fitness centers, smart home technology, and fast internet. These aren’t just perks—they’re central to tenant satisfaction and long-term performance. Amenities have evolved into essential drivers of property value, affecting everything from retention rates to revenue potential. Security, comfort, and convenience all contribute to how students evaluate housing options. Well-planned features directly support operational and financial outcomes. (NMHC)
Crew’s Approach: Benchmarks and Retrofits
We begin every acquisition with a detailed amenity evaluation—benchmarking what’s present and comparing it to top competitors. Properties offering modern, comprehensive features consistently lease faster and retain tenants longer. When we encounter strong structural buildings with outdated interiors, we look at strategic retrofits—like study lounges or smart lockers—that enhance returns without overhauling the entire footprint.
II. Benchmarking and Market Intelligence
Competitive Insights and Rent Premiums
Every market we enter starts with a localized amenities analysis. Our team compares properties across a core comp set—typically five to ten nearby buildings—to identify service and tech gaps. It’s not theory: upgrades like high-speed internet or high-quality gyms routinely add $25 to $50 per unit in monthly rent. These investments don’t just attract residents—they maximize per-unit yield and asset value.
Tailoring Features to the Campus
Amenity ROI varies widely by region and university type. What’s essential near a large public school might go underutilized at a small private college. Understanding those differences helps us allocate capital where it will perform best.
III. Technology and Modern Expectations
The Tech Baseline and What’s Next
Students today expect smart living. App-based key access, maintenance portals, and high-speed Wi-Fi aren’t bonuses—they’re the baseline. We also monitor emerging preferences like coworking nooks, wellness rooms, and EV charging stations. These trends, while still maturing, already influence decision-making. (Multifamily Executive)
Operational Benefits of Smart Systems
Tech-based amenities reduce friction for residents—and save money for operators. From thermostats to leak detection, automation improves efficiency and cuts down on routine maintenance. When systems are well-integrated, the value becomes exponential, not just incremental.
IV. Designing and Implementing Amenities
What Stands Out and What Works Long-Term
Some amenities don’t just function well—they look great. High-end lounges, rooftops, and clubhouses often pull double duty as marketing tools. Beautiful spaces lead to higher click-throughs and faster lease-ups. But visual appeal isn’t enough. We emphasize modularity—designing spaces that evolve over time. A shared game room now can shift to a wellness studio later. This agility ensures our investments remain relevant. (Student Housing Business)
Smart Spending and Lasting Value
Every amenity goes through our ROI model. We fund features that drive NOI—not just the ones that look impressive. And we avoid amenity bloat: flashy upgrades with little tenant interest or low returns are filtered out before they hit a budget proposal.
V. Enhancing the Resident Experience
Lifestyle as Loyalty
Happy residents renew. That’s the simplest and most powerful impact of good amenities. From private bathrooms and in-unit laundry to shared entertainment spaces, amenities shape day-to-day satisfaction. Features like these are often the tipping point in both initial leasing and renewals. (Apartment List Research)
Personal Service and Seasonal Planning
Experience doesn’t stop at the front door. Friendly, responsive service matters—and so does seasonality. A hot tub in the Midwest may outperform a pool in winter. Recognizing these nuances ensures we tailor offerings by market and climate.
VI. Location and Accessibility
Location Drives Amenity Value
Proximity to campus significantly amplifies the impact of amenities. Being close to class, dining, and student life creates a competitive edge—and allows us to price accordingly. In more remote locations, we counterbalance distance with elevated offerings like shuttles, large lounges, or on-site convenience services.
Access for All
Accessible design features broaden our market and reflect our values. ADA units, smart thermostats, elevators, and voice-enabled devices help ensure all students feel welcome. Accessibility isn’t a niche—it’s a necessity.
VII. Data-Driven Strategy Across the Portfolio
Performance Tracking and Continuous Review
Across the portfolio, we monitor the success of amenities based on leasing speed and rent premiums. Renovated fitness centers, smart tech installs, and lounge upgrades are all evaluated using real-time data. Our standard amenity playbook creates consistency while allowing for market-specific refinements.
Modeling Future Investments
We model future upgrades using proprietary tools that forecast impact on NOI and valuation. This modeling guides our acquisition pricing and capital deployment. (PwC Emerging Trends in Real Estate)
VIII. Leveraging Amenities for Strategic Advantage
Leasing, Branding, and ESG Value
Leasing offices are more than desks and signage. We build spaces that serve as comfortable co-working lounges and social zones—establishing an immediate brand connection. Behind the scenes, we leverage expert partnerships in tech, logistics, and wellness to expand services efficiently. Sustainability is a key layer, too. LED lighting, low-flow plumbing, and green roofs support ESG benchmarks and align with Gen Z values. (GRESB)
Momentum, Positioning, and Exit Value
Planned amenities drive pre-leasing when marketed with quality visuals and clear timelines. Major upgrades—like clubhouses or rooftop decks—have repositioned underperforming buildings in our portfolio. To our capital partners, this shows execution capability and forward thinking. To future buyers, these features support lower exit cap rates through stronger income and tenant demand. (Institutional Real Estate, Inc.)
