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01st Feb 2024

Blog

As we see Purpose-Built Student Accommodation (PBSA) begin to change, aligning business strategies with core values and student expectations is not just beneficial but essential for growth.

At mys, our forward-thinking approach has always set us apart. We understand that we’re not just offering a living space for students; we’re cultivating a community where they can flourish. Looking towards the future, we’re committed to embedding sustainability as a cornerstone of our values.

Embedding Sustainability: A Standard Not an Option

Our commitment to sustainability has evolved from an optional aspect to a fundamental component of our mission, influencing everything from student behaviour to our business’s core operations and supply chain. We strive to respect and conserve the earth’s resources in every facet of our operations, partnering with like-minded suppliers and integrating eco-friendly practices throughout. This holistic approach ensures that our residential experiences are not just enjoyable for students but also ethically and environmentally responsible, reflecting our dedication to a sustainable future in every action we take.

The latest research from The Property Marketing Strategists’ Youth Forum, 2022 Sustainability Report, reveals a significant trend: while the cost of living is a key factor driving students’ accommodation choices, it doesn’t diminish their green ambitions. At mys, we’re keenly aware of this balance between affordability and environmental responsibility. This forum highlighted how students, despite financial constraints, still prioritise sustainability. They value living spaces that minimise carbon footprints and promote green living. This is exemplified by a participant’s comment: “I’ve paid extra for a solar panelled accommodation, and they are saving me on electricity and the planet.” This statement reflects the dual focus of today’s students on cost-effectiveness and sustainability.

In response, we at mys are committed to aligning our offerings with both the economic and environmental values of our students, ensuring our choices resonate with the pressing needs of the climate crisis and the aspirations of our student community.

Recognising this, we’re striving to align our decisions with both the immediate economic needs and the environmental values of our students, ensuring our actions resonate with the urgent demands of the climate crisis and our students’ aspirations. This effort is part of our journey towards becoming a Certified B Corporation, for which we’ve already achieved pending status. We’re excited to officially join this network later this year, showing our dedication to addressing the climate crisis and supporting our students’ goals.

Aligning with Student Desires and Needs

The importance of aligning with what students want cannot be overstated. Insights from our participation in webinars, have highlighted key trends in student preferences. Price, location, and that all-important ‘third factor’ — the quality of life, community, and genuine engagement, play pivotal roles in their accommodation decisions.

mys embraces these insights, building upon them by fostering an environment that is not just about housing but about cultivating a community — a family of new friends, activism, freedom, and ambition. Our social mission drives us to be a positive part of our community, both locally and globally, which resonates deeply with students who want to be part of something larger than themselves.

Investing in mys: A Value Proposition

Investors considering PBSA may find significant advantages in exploring a partnership with a company such as mys Our approach of aligning with student needs and our steadfast commitment to sustainability are clear differentiators in the marketplace. But beyond that, there are long-term cost savings to be considered.

Sustainable practices tend to lower operational costs over time. Energy-efficient buildings, for instance, significantly reduce utility expenses.

Our commitment to quality and student satisfaction at mysensures that our living spaces are more than just occupied; they are cherished and frequently recommended, leading to lower marketing costs. Central to this success is our investment in our staff, who deeply embody our values. As a living wage employer, we ensure fair compensation, fostering a workplace culture that resonates with our mission. This approach not only enhances staff morale but also directly contributes to the superior service and living experience we offer our students, making mys more than a place to stay—it’s a community where students feel genuinely valued and supported.

The future of PBSA, as envisioned by mys is one where values lead the way. By tapping into student voices, as seen in research, and staying attuned to the latest industry insights from webinars and events, mys is well-positioned to meet the evolving demands of student accommodation.

Our approach goes beyond the transactional — we’re creating a living experience interlaced with sustainability, community, and value. For investors, this means not just a strong brand to back but a visionary company setting industry benchmarks.

The PBSA sector is poised for transformation, and mys is leading the charge with a values-led strategy that honours both people and planet, ensuring our growth is as sustainable as the futures we’re helping to build.

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