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East Campus Housing

East Campus Housing. Presented by: Melynn Bates Erica Daley Philip Davis Andrea Finley Kristen Jackson. East Campus Housing. Project Description Review the life cycle costs of owning/operating family housing units.

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East Campus Housing

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  1. East Campus Housing Presented by: Melynn Bates Erica Daley Philip Davis Andrea Finley Kristen Jackson

  2. East Campus Housing • Project Description • Review the life cycle costs of owning/operating family housing units. • Analyze the life cycle costs of the east campus housing units by reviewing current practices of minor and major maintenance. • Compare operating costs with the projected lease/rental sales of the units over time. • Project when the units will no longer be financially viable and recommend a timeline for non-use or demolition. • Conduct a market survey of additional housing rentals in the area for comparison. 2013-14 Financial Stewardship Institute

  3. East Campus Housing University Housing Mission Statement University Housing is both an educational and a business enterprise of the University of Oregon. The role of University Housing is to support the academic mission of the University through the provision of residence hall and family student housing and related services. University Housing is a self-sustaining, self-liquidating agency of the University (receives no tuition or tax support for its operating budget). The goal of University Housing is to offer the highest quality of basic service at a reasonable cost. 2013-14 Financial Stewardship Institute

  4. East Campus Housing • Process • Review east campus plan • Analyze current finances • Collect market data • Deliverables • Housing analysis tool • Market analysis tool • Recommendations 2013-14 Financial Stewardship Institute

  5. East Campus Housing • Housing Description • Over 60 housing units (1-5 bedrooms) • Close proximity to campus • Cats and dogs permitted • Available to all students • High demand (wait list) • Houses located on Villard & 19th are in a permanent low-density housing buffer zone 2013-14 Financial Stewardship Institute

  6. East Campus Housing Analysis

  7. East Campus Housing • Housing Market Analysis • Collected market data for comparable rental houses. • Current rent for East Campus Housing units is priced significantly below market rates. • 26% to 62% below market rate depending on number of bedrooms. • Rent increases may be appropriate. 2013-14 Financial Stewardship Institute

  8. East Campus Housing Housing Market Analysis

  9. East Campus Housing Rent Increase Analysis Additional Income if Rent is Increased 2013-14 Financial Stewardship Institute

  10. East Campus Housing • Recommendations • Continue to maintain the homes that are generating sufficient rent to cover expenses. • Focus major maintenance on the buffer zone. • Defer maintenance on homes that are likely to be taken off line in the near future. • Evaluate the possibility of moving homes in good condition to the buffer zone. • Analyze rent increases annually in order to cover expenses and fund necessary capital improvements. 2013-14 Financial Stewardship Institute

  11. East Campus Housing Thank You! 2013-14 Financial Stewardship Institute

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