Campus housing departments must navigate a quickly changing landscape. For them to withstand potential disruptions, while still driving change, shifts in current business models are needed. In addition, institutional context must be considered in these matters. Altogether, these changes will require a new way of thinking about revenue resources, potential partnerships, staffing structures, technology uses, and facility maintenance.
Housing departments must re-evaluate their business models, including their value propositions, staffing, profit formulas, resources, offerings, and key processes. The future business model will identify new ways of generating revenue to enable opportunities to increase funds for mission-driven initiatives such as combatting student housing and food insecurity, supporting mental health concerns, and others.
At the core of this work will be data. There is data that illustrates the value of residential living, including increased retention, greater graduation rates, and a stronger affinity to the institution. There is data that projects occupancy trends. There is data that benchmarks staffing models and compensation against peer institutions. The ability to identify, collect, and analyze this data will be integral for housing officers to make the necessary changes.