Off-Campus Student Housing Off to a Slow Start for Fall 2021
Pre-leasing levels are lower than normal for privately-run student housing properties for the upcoming academic year.
January 13, 2021 | Bendix Anderson | Wealth Management Real Estate
With uncertainty over how quickly COVID-19 vaccinations will be rolled out nationally, students are taking their time to sign leases for off-campus student housing for the school year starting Fall 2021.
These students have been very patient customers for purpose-built student housing communities despite the chaos caused by the coronavirus. The vast majority continued to pay for their student housing beds even after college campuses closed en masse to slow the spread of coronavirus in March 2020. Most also signed leases again for the academic year that started in the fall of 2020 and kept paying again even when many campuses stayed closed.
But now, some student housing residents have been reluctant to sign leases for Fall 2021 until the picture becomes clearer.
