Collegiate UK has formed a strategic partnership with proptech firm Lavanda to leverage its technology platform.
The platform aims to optimise the performance of Collegiate’s vacant or under-utilised purpose built student accommodation.
Collegiate plans to tap into seasonal rental demand during the summer months, when the academic year has ended. It is also looking to offer students more flexible term time leases as an alternative to the conventional 51-week lease.
With Lavanda’s property management system, Collegiate plans to adapt to fluctuations in demand resulting from future economic downturns or changes in demand for student accommodation.
Over the past 24 months, Collegiate has trialled Lavanda’s system in 14 buildings across 12 UK cities, representing more than 30% of its portfolio.
Rob Moyle, chief executive at Collegiate (pictured), said: “The pandemic resulted in a shift in rental demand and has been a catalyst for innovation and change across the residential sector. As consumers increasingly value flexibility, demand for shorter stays continues to accelerate with no sign of abating.
“Flexibility in many cases now drives decision-making for students, whether they’re seeking term time accommodation or temporary accommodation while travelling during the summer months.
“Our partnership with Lavanda provides our communities with a best-in-class toolkit that allows our buildings to stay agile, respond to emerging trends, and offer the best value to our student residents.”