There is an increasing number of national and international students in Germany. Currently, we also see high mobility among young people against the backdrop of a general housing shortage and increasing rents in larger metropolitan areas and educational hubs. Staytoo was launched to address these market dynamics and to raise the standard of PBSA in Germany in terms of home furnishing and community building. The market dynamics were, and continue to be, the key drivers of our business case. We believe the concept and operational skills are the decisive criteria for sustainable investment success.
Where do we stand today?
Just three years after opening our first property, our Staytoo Community is a colorful melting pot of heritages from all over the world. This is reflected in the percentage of international students staying with us – currently three times higher than the percentage of foreign students enrolled in German universities.
Alongside students at university or polytechnics, we also host persons in further education trainings such as medical staff from hospitals or other apprenticeships. We have designed our concept to be as young as possible in order to meet all the desires a young person in a new city might have.
But how do we know how to meet our customers’ needs and expectations?
It is important for us to be as connected as possible to our tenants. Thus, we run regular surveys to measure our customer expectations and satisfaction. This survey is completely anonymous, so we have given our tenants an open platform to speak as freely as they would like to without having to fear any repercussions.
Our on-site scouts also play a key role. They work with our tenants every day and are hired to build good relationships with them. They provide precious insights, making our services more valuable.
We see that the survey results confirm our approach, as the on-site scouts are the point of contact for more than 91% of our tenants for questions, worries and everyday problems. Less than 4% of tenants prefer to StayInTouch via online chat tools or phone hotline. Over 90% are more than satisfied with our scouts in terms of their kindness, response time and level of support.
For potential tenants modern digital services are vital to support the booking and onboarding process, especially for international students. Virtual tours through the building and apartments are mandatory. Supported by online chat tools, hotlines and email support. This is why we have created Staytoo to have everything the current generation is looking for; a variety of digital services to smoothen the onboarding process.
We offer a new home to exchange students as well as those who are just moving out of their parents’ home across the street. This implies that our customers are very young. The majority are between 18 to 20 years and moving away from home for the first time. Providing a smart, simple, social and safe living environment is our key brand promise.
Are you looking for investment opportunities or an experienced operator to boost the performance of your micro-living portfolio? Let’s get acquainted!