The end-of-the-semester scramble to find new living accommodations for the summer and following year can be a stressful time for students, especially when finals are looming and free time is hard to find. However, apartment locating services in the Dallas area can free up the options and time of SMU students. These services do the work for the client free and sometimes even offer rebate incentives.
Several of these services employ SMU alumni as agents. Sean Schulgen, the president and CEO of Mustang Realty Group, received his undergraduate and graduate degrees from SMU. His service, which includes apartment locating as well as property sales, offers a money incentive to draw clients. After signing a lease with an apartment complex, the client receives 10 percent of the profit that the company makes from the deal, up to $500.
“I remember what it was like to be a student,” Schulgen said. “It’ll pay the electricity for a month.”
Schulgen urges students to start looking now if they want to live in an apartment next semester. That way they can find out what is available and discover the best options and deals. He acknowledges the competition in today’s realty market but feels that the company’s knowledge of the community and ethical standards sets it apart.
“It’s a pretty saturated market,” he said. “You have to distinguish yourself.” Mustang Realty Group, which serves about 100 to 200 SMU students a year, was started about three-and-a-half years ago as Mustang Leasing Company.
Stephanie Robertson, who graduated last year with a bachelor’s degree, works in the apartment locating business, as well. She is a realtor for Promove, a company based in Dallas and Atlanta. Though her company does not offer any type of rebate, it does look for apartments that are hosting specials on rent. According to Robertson, some clients have gotten up to four months rent free.
In addition, Promove offers its clients profile cards with accurate pictures of apartment buildings and facts and footage about the property, since many pictures provided by the complex itself focus only on the best features of the building and therefore be misleading.
Briggs-Freeman, though primarily focused on sales, also offers apartment locating services. Rogers Healy, a 2003 graduate with degrees in psychology and advertising, has been a real estate agent with the company since 2004. He does not offer rebates but still works to give his clients good deals. “[Clients] have had trouble getting money back from other places,” he said. “I decided not to deal with it.”
However, he feels that his proximity of age to current college students allows him to better serve them. “I have a pretty firm grasp of what’s important, what college kids want in an apartment,” he said.
Zachary Parvin, a junior living on campus, is ready for his own apartment and plans to use an apartment locating service over the summer. “The dorm is convenient, but it’s not a home,” he said. He doesn’t fear losing a sense of connection with SMU, which might deter some students from moving off-campus. “I don’t feel like I’ll be separated from the community,” he says. “I’ll still have connections and be involved on campus.”
Not all students feel this way, however. Leslie Fleming, a first-year majoring in music performance and psychology, feels that she would lose the sense of community present in her dorm life. “It’s because of the people that are around me [that I like the dorms],” she said. “I don’t like change.”
If a student chooses to search for an apartment for him or herself, it is important that the student be educated about average prices and floor plans.
Though rental rates vary upon location, price usually corresponds to the square footage of the apartment, coming to about a dollar per foot. An average efficiency rents for around $350 to $550 a month while a one-bedroom can usually be found for $500-$750 a month. In addition to rent, students should also be aware that they will be expected to pay a deposit on the apartment and to the utilities companies upon moving in, as well as a processing fee when applying to the complex.
Students should also consider the differences between older and newer rentals. According to dallas-apartment.com, an older property usually has larger rooms with smaller kitchens, bathrooms, and closets. Newer properties typically offer smaller rooms but increased storage, bathroom, and kitchen space. Students looking for space should watch out for deceptive quotes about square footage. Some complexes include the patio in the total to make the apartment sound larger.
