By Norman Nelson
With new student apartments and condos popping up around the valley, competition for renters is intensifying.
“The market and the availability of apartments has led some landlords to lower rent,” said Patt Brann, a BYU housing official. “The market lately has been very tight. The average occupancy rate has been up for this area until now.”
President of Glenwood Properties, Dave Friedman, said the competition encourages everyone to compete harder for students.
“I think that as one of the owners of the property, I want to see us be a lot more appealing to BYU students,” Friedman said. “The standards of BYU students are very high, and we want to match those standards.”
This summer, Glenwood Properties has spent resources to upgrade each of their five apartment complexes with new carpet, doors and furniture. But Rain Tree Apartments received the most attention.
Instead of the white panel look, Rain Tree will boast a combination of stucco and stone to match the remodeled interior of the apartments.
“Our desire is to bring Rain Tree up to condo quality,” Friedman said. “They are essentially brand new.”
Craig Pickering, part owner of the $20 million Parkway Crossing just east of UVSC, told the Salt Lake Tribune that the apartments are more than housing. “They are an experience,” he said.
Competition among Pickering, Friedman and others, has caused students such as Emily Freeston, a junior, majoring in elementary education, to get excited about rates for next Fall Semester. Living at Centennial II Apartments, Freeston said her rent is not scheduled to rise this fall.
The BYU Housing Office does not have any control over the amount of rent landlords charge, said Garry Briggs, manager of Off-Campus Housing.
“Through the university, we set guidelines and standards to help the single off-campus students to have an environment where they can focus on their education, spiritual and moral-development,” Briggs said.
Friedman said one of the challenges for owners is to adapt to the BYU demographics because the BYU Honor Code requires men and women to live not only in separate apartments but also in separate buildings.
If, for example, Friedman said he foresees a trend showing the number of women increasing compared to the number of men at BYU, he would have major work to do to change a men”s building to a women”s.
Competition not only drives owners to improve their properties, but it also drives students to find the best deal.
One couple, Will and Joanne Toronto, said they moved from their first apartments to save money.
“We lived our first married year in Union Square Apartment off campus,” Joanne Toronto said. “That was probably our favorite. We had a blast with all the other couples in our building because we had a lot in common. But, when we moved to Wyview, everyone had kids except us, so we felt like outsiders. It was cheaper and close to campus, though.”
