Market Sharing

Students + Sharing Economy

By Erica Rascón on Dec 4, 2018 in News

They say that sharing is caring. Turns out, sharing is also a great selling point for your student housing community. By integrating the share culture into your student property, you can reap the benefits of this growing economic sector.

The sharing economy flourishes worldwide. Its convenience and innovation has won over millions of users. According to PWC research,  83 percent of respondents say the sharing economy is more convenient and efficient than conventional methods of shopping, transportation, and completing tasks.

Share practices are already active in your student housing community. Why not capitalize on their success?

No- and Low-Cost Solutions

You don’t have to spend a lot of money to bring collaborative consumption to your student property. These low-cost solutions are a great place to start:

By 2025, the rideshare economy will have an estimated cumulative worth of over $335 billion. Show that you are adapting to the times. Designate an area in your community for rideshare pick-up and drop-off. Mark this area with signage using the rideshare service provider logos, such as Lyft and Uber. If your property has a security gate, place the designated area outside of the gate. This results in fewer guests with gate access codes and shorter lines at the callbox.

Make rideshare services easy to access from your property website. True, most users will hail a ride using their smartphone app. The link on your property site, however, shows prospects and residents that you are responsive to their needs and interests.

Market the desirability of your location by highlighting food delivery services available in your community. Doordash, Uber Eats, and GrubHub delivery services are popular with young adults.

A community share forum creates a sense of cohesion and support within your student housing property. The forum can serve as a pop culture library for residents loaning vinyl albums, books, and the latest fashions. The forum may even facilitate bartering, like receiving used textbooks in exchange for hours of dog sitting. These exchanges are already taking place on your property. The key is the market your share economy savvy! Consider setting up Snapgoods and Facebook marketplaces for your property.

Noteworthy Investments

Some aspects of collaborative consumption may require an investment of your time or resources. Once completed, the benefits of these offerings will help your property stand apart from competitors.

Shuttles between the property and the university are a popular option for students, especially in areas where fewer students own vehicles. Offer a shuttle service to decrease traffic on your property while increasing convenience for students. Market the service on your property website for increased visibility and participation.

Many of your students may own their own businesses on Etsy and similar platforms. Show that you support student entrepreneurship and innovation. Offer shipping for your residents via USPS. Make receiving parcels easier with secure package storage solutions.

Not sure which aspect of the share economy your students are interested in? Ask! Students will value your willingness to listen and customize their resident experience.