COVID-19 has changed the landscape of most industries, and the student housing industry is no exception.
At the beginning of the pandemic, many college campuses and dormitories closed their doors and inevitably forced student residents to move back home or seek alternative living arrangements. In some instances, college campuses were able to work with students to allow them to remain on campus, but the campus is isolated, desolate, and not the same lively or robust place it was before COVID-19.
With a potential for another wave of COVID-19 cases and increasing social distancing regulations, students and their parents may want to consider off-campus living arrangements moving forward, where they can guarantee that they won’t be locked out of their room.
While student housing development continues to stay the course, there are technology trends that are changing the landscape of the industry. Here are the technology trends concerning COVID-19 that developers and real estate investors may want to consider when starting a new student housing development.
First up is the rising demand for touchless technology. Things like touchless lighting, locks, lavatories, and automatic doors are all prime examples of what student housing residents are actively seeking. Not only is this a more convenient, healthier way for them to live, but the COVID-19 pandemic push had a large role in boosting the presence of this trend overall. By fulfilling this craving and desire for touchless to induce safety and living seamlessness, you are setting up your student housing properties to be more attractive in the long run through this innovation effort.
App Connected Technology
Another big trend is app connecting. Did you know, according to Oberlo statistics, there are 3.5 billion people in the world who currently own a smartphone? This equates to about four people owning one out of every ten across the globe. And the feature that makes them such a valuable asset is their practical and prominent applications they offer users. Getting on board with the advantages of mobile app connectivity, such as security systems and door remote control, will allow you to have a competitive advantage.
Staying innovative and updated with current trends is going to support your student housing properties to thrive now and well into the future. Acting on these trends provide value to the residents, but it is also a fundamental way to stay competitive and obtain profitable growth. Now, an important thing to remember is that even if you are on board but have no idea where to begin with the development process, you do not have to go about it alone.
The team at FaverGray is highly trained, professional, and experienced in innovation efforts and applying cutting edge results that cultivate modernization to increase property attraction. When you are ready, give us a call to discuss your project needs and
discover how FaverGray can take your plans to the next level.