Story by Melanie Leach
Drake West Village student housing recently released that the cost of living in their apartments will be significantly lower than in years past.
Regional Vice President Melinda Farmer said the rent was lowered due to market adjustments. A competitive market survey assessed the living areas around Drake University and the greater Des Moines area. The survey found that other residencies offered lower prices, so West Village also lowered the rent.
Students could be saving from $50 to $150 depending on the desired floor plan and when the lease was signed. Student Tess Montgomery said that the decrease will be helpful in taking off the stress that comes with finding the money each month to pay rent.
Since she already lives in West Village, she would continue to live there even without the decrease, but this is an added bonus for her.
In previous years, rent had continuously increased, so this could be encouraging for many students looking for affordable housing close to campus.
Students who already live in West Village will have to wait until the fall for the rate to drop, so throughout the summer, those staying will continue to pay the rate they do as of now.
Many students were notified of the new change through the Drake West Village page on Facebook. A flier announces, “New Low Rates. Rates have been reduced in ALL floor plans.” The page also verifies that rooms have been leased since the new change occurred.
Although it is too early to measure the overall success of this change, Farmer said West Village has received a number of calls from new clients interested in the new rates.
Junior Selchia Cain could be considered one of the most excited about the decrease in rent. Before the rate changed, Cain struggled to find a place to live that could fit her budget.
As a previous resident assistant of two years, she was drawn to a one-bedroom apartment. However, with the old rates, obtaining a single was not within her price range.
When the announcement was made, Cain found that she could rent a single room for the price that she would have had to pay to live in a two-bedroom apartment. She was thrilled and waited outside the office the next day to sign an upgraded lease.
Several students who already live in West Village have posted their own personal testimonies and opinions about the facilities, as well as encouraged others to seize the opportunity and sign a lease while the price is lowered.
Farmer does not expect rent to become any lower than now, so she “encourages students who are interested in these new low prices to apply and secure their leases now while the rates are low.”
Those interested can find more information on the Facebook page, or by calling or visiting the housing office located on 31st Street.