Talking Stick - July/August 2008 - (Page 24)

Business Pricing Yourself into Business by Ann Marie Klotz Many institutions are using tiered pricing structures to keep their budgets in the black and to keep up with students’ constantly evolving needs. very intentional and not placed any of our residential colleges or theme halls in the newer, higher priced housing stock. We do not want to ever turn anyone away from an opportunity by out pricing them. It is a fine balancing act to not have our original halls be considered the ‘have-nots’ and our new halls the ‘haves.’” Stacey Miller, director of residential life at The University of Vermont in Burlington, explains how students across campus housing are treated equally: “We currently have spaces on campus that are both renovated and un-renovated; however, this was not a determining factor in our pricing model. In other words, halls of the same style and type are priced the same regardless of whether they are renovated or not.” A similar balancing act occurs at international institutions, as described by Gary McLaughlin, business manager for housing at Flinders University, in Adelaide, South Australia: “We are not a large organization, but we manage to strike a balance between access and equity for residents and operate as an adjunct and asset to university operations. Obviously, covering increasing costs is a continual problem, and yet we manage to do that and still provide a fair priced accommodation to students at no direct cost to the university. We must keep residences accessible because we have no way to take advantage of the economies of scale that many U.S. organizations do. There is no requirement for students to stay on campus, so we are always in direct competition with other private colleges, private commercial accommodation providers, and other options such as staying at home [while attending “I want privacy.” “I want to be in an environment that positively influences my academics.” “I want to live in a welcoming community with open and friendly RAs.” “I want air conditioning, washers and dryers, and nice bathrooms.” These are just a few student responses from a recent survey at my institution asking them where they wanted to live on campus and why. Although it’s helpful to get student feedback about living on campus, what comes with it is the recognition that what a student wants often differs from what the university can afford. Rising costs play a significant role in deciding what amenities can be upgraded, what halls can be improved, and if new buildings can be built. Many institutions are managing the competing needs of cost and student satisfaction in the residence halls by utilizing a tiered pricing structure, which involves looking at their debt service, the local cost of living, energy costs, housing rates at comparable institutions, and rates of the off-campus housing market. They also look at their decisions about cost from a philosophical standpoint and are therefore cautious not to create a division between the haves and the have-nots on campus. There are concerns about creating financial segregation between students who choose the older, less expensive halls and those who pick the newly built, pricey residential facilities, as Joanie Schmidt, associate director of residence life at Central Michigan University in Mount Pleasant, states: “We have been 2 Talking Stick

Table of Contents Feed for the Digital Edition of Talking Stick - July/August 2008

Talking Stick - July/August 2008 Contents Online Now Vision Just In Your ACUHO-I Transitions Res Life Facilities Business Calendar When Politics Come to Your Town Support System Conversations First Takes Reporting Out New Members Snapshot

Talking Stick - July/August 2008

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