Student Housing Business

MAR-APR 2018

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

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THIRD-PARTY MANAGEMENT March/April 2018 StudentHousingBusiness.com 50 ping up," says Madison Meier, vice presi- dent of business development for Campus Advantage. "We're seeing a lot more smaller operators come into the space." Newer operators may come out of the gate with competitive management fees. But as most seasoned operators like to say, the low- est fee isn't always the right match for an asset. Having the most compatible manage- ment team onsite is critical. Once engaged, how do owners stay on top of a property's performance? What information do they need to see, and how often? What are inves- tors looking for in a third-party manager? Wanted: Experienced Operators For most, it's imperative to have a team with years of hands-on experience meet- ing the specifically unique demands of stu- dent housing. Today, the best managers are highly skilled in prioritizing the resident experience. "We don't believe that to be tradition- ally 'Class A' is enough anymore," says Alex- ander Candia, director of student housing and multifamily for Kayne Anderson Real Estate Advisors, an owner who carefully watches the metrics of its third-party man- Student Quarters (SQ) brought management of some of its assets in-house in 2017. It now manages about half its portfolio, while continuing to use third-party management for the remainder of assets. SQ President and CEO Andy Feinour says it was a massive undertaking but will help investor partners have tighter oversight of the properties.

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