State College Student Housing Lease Up Case Study | 100% Leased Units

How The Apartment Store Delivered a Full Student Housing Lease-Up Turnaround in Under a Year

Overview 

Since 1977, The Apartment Store has been a trusted name in property management across Pennsylvania, overseeing more than 4,500 bedrooms with a focus on operational excellence and resident satisfaction. In April 2024, The Apartment Store was selected to take over management of a group of townhomes in State College, PA during a challenging mid-cycle transition. Within months, both properties were transformed through expert oversight, strategic marketing, and operational restructuring, resulting in full lease-up, improved efficiency, and strong financial performance. 

The Challenge: Mid-Cycle Student Housing Lease-Up Risks and Operational Gaps 

The transition came with significant hurdles:

• Incomplete Leasing: Eight units were still available across both properties, well into the leasing season. 
  
  
• Disjointed Operations: Previous management had left behind inconsistent unit configurations, mismatched furniture, and varying rent prices for identical units. 
  
  
• Operational Confusion: Utilities, vendor relationships, and furnishing inventories lacked organization and accountability.

 Despite the time crunch and complexity, The Apartment Store took swift and decisive action. 

The Turnaround: Strategy, Systems, and Staffing 

Upon assuming management, The Apartment Store implemented an efficient turnaround strategy:

• Data Migration & System Integration: All leases and resident records were transitioned into Entrata, our enterprise-grade property management platform, led by an in-house specialist. 
  
  
• Pricing Simplification: Rents were standardized by aligning all rates with the highest previous pricing tier—eliminating confusion and maximizing rental potential. 
  
  
• Brand Refresh & Marketing: New websites, detailed floorplans, and updated leasing materials were launched to support a digital-first marketing strategy. 
  
  
• Operational Streamlining: Utilities, vendor contracts, and furnishing records were reconciled to support smoother resident experiences. 
  
  
• Staffing Investment: A new leasing professional was onboarded at a nearby leasing office to provide dedicated support to the property’s residents and prospects. 
  
  
• Comprehensive Inspections & Budgeting: Each unit underwent a full inspection, with appropriate damage billing. Brand-new operating budgets were developed from the ground up. 

Leasing Results: Full Lease-Up Ahead of Move-In 

Despite acquiring the properties late in the leasing cycle, The Apartment Store successfully leased 100% of both buildings by August 2024. 

For the 2025–2026 cycle, momentum continues:

Financial Wins from Student Housing Stabilization and Cost Controls

From August 2024 to March 2025, the financial impact was substantial: 

• Over $20,000 in rental income over budget 
  
  
• Over $40,000 in operating expense savings 
  
  • Achieved through vendor renegotiation, tighter expense tracking, and better resource management. 

These savings allowed for a property-wide pressure washing project that dramatically improved curb appeal at no extra cost to ownership. 

Looking Ahead: Built for Long-Term Value

The Apartment Store didn’t just stabilize this property, we positioned them for long-term success. With plans underway for interior upgrades and a proven leasing model already delivering results, we’re building on a strong foundation.

Lease Up Case Study Results: Full Student Housing Lease-Up and $40K+ in Savings 

In under a year, The Apartment Store proved the value of expert property management. Through decisive action, smart investment, and operational know-how, we transformed fragmented assets into high-performing properties. The success speaks for itself and it’s just the beginning. Learn more about our  property management services in State College PA and how we can boost occupancy, cut costs, and transform underperforming properties.