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

2. 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. East Campus Housing 2013-14 Financial Stewardship Institute

3. 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. East Campus Housing 2013-14 Financial Stewardship Institute

4. Process Review east campus plan Analyze current finances Collect market data East Campus Housing 2013-14 Financial Stewardship Institute Deliverables Housing analysis tool Market analysis tool Recommendations University Housing - East Campus FY 2013 Operating Budget Revenue $835,123 Personnel $339,112 Services & Supplies $356,737 Debt Service $150,000 Balance before Depreciation ($10,726) Depreciation Expense $83,995 Ending Balance ($94,721)

5. 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 & 19 th are in a permanent low-density housing buffer zone East Campus Housing 2013-14 Financial Stewardship Institute

7. Anticipated Costs within $5,000 of Rent Low Density Residential Limited High-Density Residential/Limited Institutional Institutional East Campus Housing Analysis AddressBdrms Current Annual Rent 5 Year Rent* Average Annual Maint. 5 Year Maint.* Average Annual Utilities 5 Year Utilities* Projected Major Maint. 5 Yr Total Anticipated Costs 1727 Columbia Street210,46755,0203,00015,7699004,731 20,500 1728 Columbia Street310,98457,7353,00015,7699004,731 20,500 1737 Columbia Street29,17648,2313,00015,7699004,731 20,500 1748 Columbia Street412,09163,5543,00015,7699004,731 20,500 1753 Columbia Street311,10758,3823,00015,7699004,731 20,500 1786 Columbia Street211,10758,3823,00015,7699004,73112,50033,000 1798 Columbia Street210,14853,3393,00015,7699004,73131,50052,000 1799 Columbia Street39,77951,3993,00015,7699004,731 20,500 1800 Columbia Street412,39865,1703,00015,7699004,731 20,500 1804 Columbia Street210,14853,3393,00015,7699004,731 20,500 1819 Columbia Street412,60866,2693,00015,7699004,731 20,500 1823 E 15th Avenue28,58545,1283,00015,7699004,731 20,500 1841 E 15th Avenue411,75961,8083,00015,7699004,731 20,500 1660 E 17th Avenue210,14853,3393,00015,7699004,731 20,500 1704 E 17th Avenue28,00742,0893,00015,7699004,73115,00035,500 1690 Moss Street28,73345,9043,00015,7699004,731 20,500 1709 Moss Street310,02552,6923,00015,7699004,731 20,500 1736 Moss Street A27,50339,4383,00015,7699004,731 20,500 1736 Moss Street B16,45833,9433,00015,7699004,731 20,500 1741 Moss Street49,71751,0763,00015,7699004,73124,50045,000 1763 Moss Street210,14853,3393,00015,7699004,731 20,500 1787 Moss Street29,49649,9123,00015,7699004,7317,50028,000 1790 Moss Street210,02552,6923,00015,7699004,731 20,500 1795 Moss Street210,33254,3083,00015,7699004,731 20,500 1838 Moss Street28,58545,1283,00015,7699004,731 20,500 1848 Moss Street412,73166,9163,00015,7699004,731 20,500 1873 E 15th Avenue411,75961,8083,00015,7699004,731 20,500 1857 E 17th Avenue410,14853,3393,00015,7699004,731 20,500 1838 Villard Street311,10758,3823,00015,7699004,731 20,500 1848 Villard Street210,14853,3393,00015,7699004,731 20,500 AVERAGES:2.3510,48355,103 24,607

8. 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. East Campus Housing 2013-14 Financial Stewardship Institute

9. Housing Market Analysis East Campus Housing Current Rent5% Rent Increase10% Rent Increase35% Rent Increase BedroomsMarket East Campus % below Market East Campus % below Market East Campus % below Market East Campus % below Market 1 Bedroom 750 55426% 58222% 60919% 7480% 2 Bedrooms 1,100 79028% 83025% 86921% 1,0673% 3 Bedrooms 1,629 85747% 90045% 94342% 1,15729% 4 Bedrooms 1,990 98251% 1,03148% 1,08046% 1,32533% 5 Bedrooms 2,718 1,02862% 1,07960% 1,13158% 1,38849% 6 Bedrooms 2,423 N/A Studio N/A 486N/A 511 N/A 535N/A 657N/A

10. Rent Increase Analysis East Campus Housing 2013-14 Financial Stewardship Institute Years5% Increase10% Increase35% Increase 1 33,239 66,479 232,676 5 166,197 332,394 1,163,379 10 332,394 664,788 2,326,758 Additional Income if Rent is Increased

11. 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. East Campus Housing 2013-14 Financial Stewardship Institute

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