San Marcos, TX: The student housing apartment industry has boomed over the past 3 years across the nation and specifically in San Marcos, TX. After Texas State University joined a higher sporting conference we saw renovations and new building popping up all around the University. With this construction, the University anticipated higher enrollment rates and once apartment builders heard that, they come running into town.
This year alone, San Marcos has 7 different large apartment communities being constructed all catering to Student Housing. Apartment communities like The Vistas, The Cottage of San Marcos and Uptown Square are all luxurious student housing apartment communities offering resort style pools, enormous clubhouses, fully furnished apartments with golf simulators, sand volleyball courts and more.
The city is growing faster than it can keep up as road construction has stalled traffic just about everywhere you turn hurting small businesses. In addition, all of the new housing being developed has caused a surplus in the market so the other 66 or so apartment communities that normally have 100% occupancy are having to lower rates and deal with around a 92% occupancy rate.
Since competition has increased drastically, apartment locators have snuck into the picture and help students find housing that fits their needs. However, it has caused a backlash in the industry as they charge up to a month and a half of an individuals rent to the apartment community for finding their client an apartment. For example, if an apartment locator found Johnny an apartment at $1000 per month, the apartment would pay the locator $1500. As locating has become more and more popular, marketing budgets have increased in order to pay for locating and thus rent prices have increased as well. For an apartment community, it is always great to increase your rent prices, however your Net Operating Income overall has decreased due to additional expenses in marketing.
Luckily, for San Marcos apartment managers and students, www.studentrentit.com has come to help! Local realtors and students at the University created the company to make it easier to find an apartment for students and reduce marketing costs to apartment managers. The mobile responsive website has delivered over 100 leases in its first 6 months of operations. Due to the success of the product, StudentRentIt is expanding into nearby markets including College Station, Lubbock, Waco, Austin and San Antonio, Texas.
The website allows students to find all of the available apartments in the college town with just one click. They can also see videos of apartments, events and deals of nearby businesses and get better idea of what it is really like to live somewhere and make their apartment searching decision in the comfort of their own home.
For more information about finding an apartment in San Marcos, TX or listing your property, you can visit www.studentrentit.com today!