Student Housing Business

JAN-FEB 2018

Student Housing Business is the voice of the student housing industry.

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TURN January/February 2018 StudentHousingBusiness.com 60 to range from $150 to $180 per bed. "Controlling costs is all about asking yourself: What do I do dur- ing that organized chaos to make it work?" says Maxa "In terms of hiring extra staff — do I hire one less extra person to help out dur- ing turn so I can accomplish more with painting, cleaning or carpet crews? It's a big puzzle. Site staff are well aware of what they have in their budgets. That's why the contract negotiations start so early on in the year." Turn will always include the same highly choreographed clean- ing procedures and inspections. "The process of turning the units hasn't changed so much as how we prepare for turn," says Peak Campus Chief Operating Offi- cer Casey Petersen. He says that Peak requires its sites to complete a "Turn Readiness Plan," which identifies areas for improvement based on real challenges that popped up the year or two before. Peak turned 50,000 beds dur- ing the months of June, July and August 2017. "The plan identifies their top three areas of improvement from the year prior and it includes actionable solutions to prevent these from happening again," says Petersen. "This provides an emergency playbook of sorts to avoid issues before they arise and a means to quickly correct them if they do occur." For Peak, turn preparation calls begin in early March for proper- ties that have a turn period in July or August. Preparation begins with required webinars that cover topics like collecting bids and completing contracts to detailed timelines for managers to com- plete, so everyone will know when things like temporary help needs to be scheduled or furniture orders placed. Executed contracts are due the first week of April. Where the Savings Are Many companies no longer sole- ly rely on white boards and Expo markers to keep the turn process organized. Several industry ven- dors to the industry have devel- oped comprehensive technology that makes keeping track of all things turn a lot easier. CA Student Living, for example, currently uses an inspection app, which has digitized the inspec- tion process and reduced data collection. Campus Advantage is working with software that pairs a photo of damage instantly to a tenant's record so any charg- es are documented with proof of damage. The Preiss Company also reports success with a similar application. Another trend that has made turn a bit simpler and less expen- sive is that many companies say they are saving on carpet clean- ing services due to the increase in communities with vinyl flooring. "Having units with all hard- woods is such a huge help dur- ing our turn process," says Sara AQUISITIONS DEVELOPMENT INVESTMENT Aggressively pursuing student housing developments and acquisitions in primary, secondary, and tertiary markets, up to 5 miles from campus. Acquisitions: Phillip A. Duke (310 435-1269 Phillip@ColumbusPacific.com Development: Michael Augustine (435) 214-7431 MAugustine@HomesteadDP.com DEVELOPED BY MANAGED BY ColumbusPacific.com Homestead-U.com HomesteadDevelopmentPartners.com

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