Why are we signing leases this early?

Each year, the Pi Kappa Phi Properties team begins the lease signing process for the following school year as soon as Labor Day weekend. Why? There are many reasons behind the approach of signing leases early – sometimes earlier than other local landlords solicit their next year’s residents. 

It is not uncommon for students across the country to sign leases anywhere for the following school year in the first month they are back on campus. Student housing, unlike typical housing, fills up much faster and further in advance of move-in dates. Lots of students, not just students in Greek like, are signing their leases early in the Fall semester.  

Pi Kappa Phi Properties is only able to lease to members of the Pi Kappa Phi Fraternity. While other landlords are able to lease to nearly any student on campus, our pool of prospective residents is much, much smaller. We get an early jump on sending out leases to have the best opportunity at filling the chapter house each year. Filling the house is important for two reasons. One, a full house gives the men a fuller and richer experience in their chapter house with their brothers. Two, any empty beds not filled for the coming school year are billed to out of house members. This increases the cost of the out of house experience without contributing positively to the living environment at the house.  

Additionally, each year Pi Kappa Phi Properties seeks to improve every one of our 24 owned locations in some form or fashion. The earlier that a chapter completes their leasing for the following school year, the sooner a budget can be formulated, bids received, and work started to improve the chapter house. If leases go unsigned well into Spring semester, it is hard to get substantial work lined up for Summer break. 

As a member of Pi Kappa Phi, it is a once-in-a-lifetime opportunity to live in your chapter’s house. Many of our locations require that sophomores of the chapter and their executive council leadership live in their buildings, and we support both of these efforts. Brothers form long-lasting bonds with those who live in the house with them, and chapter leadership living, working and socializing in the chapter house creates a culture of accountability and stability. 

We hope that each new member of the chapters we serve remembers the student creed: “Who realize that membership means personal responsibility in bearing their share of the financial burden of the chapter and the national organization.” It takes buy-in from all chapter members to ensure that their Pi Kappa Phi Properties owned or operated house can successfully enhance their fraternity and continue to provide a place for brotherhood by filling their chapter house, participating in the chapter’s meal plan, and paying parlor fees throughout their time as an undergraduate member.  

If you have questions about leasing please reach out to us at https://pkpproperties.org/contact-us/.