Recentrly, HPRE also renovated peabody Terrace, which had not been touched since it was built in 1963.
HPRE keeps its units in better condition than other landlords in part because it serves an academic community, according to Keller. About 50 percent of HPRE's units turn over every year, versus about 10 percent for the rest of the market, she says. Each time a unit turns over, HPRE pays to have it cleaned and painted.
In addition, as a bonus to their academic clientele, HPRE removes snow from walkways by 8 a.m. so students and faculty can get to class, Keller says.
HPRE also has the capability to lease apartments to graduate students while they are still overseas, Keller says. Within several years the listings will be online.
Tight Squeeze
The tight rental market all over the Boston area, Dunn says, has driven more Harvard affiliates onto the HPRE waiting list and into the housing office to look for listings.
"Because of the market changing, we are worried about people having to live further and further from campus," Keller says.
About 67,000 people walked into the housing office last year, and about 59,000 called looking for apartments. In addition to the apartments that HPRE rents directly, other area landlords list their rentals through HPRE.
Only affiliates can use the housing office's listings, which are grouped into Cambridge long-and short-term rentals, and long-and short-term rentals outside of Cambridge.
Many landlords prefer to rent to Harvard affiliates, Dunn says, because they "feel the students are reliable". Local alums often prefer to list with HPRE for the same reason.
For the first time ever the housing office sent a mailing to all multi-unit houses in Cambridge and the surrounding area, in order to attract more listings, Dunn says.
"Our listings did go up," she says.
Although "there's a real shortage of housing...all over Cambridge," according to Dunn, she's never known an affiliate not to find a place to live.
"They have to do their homework. They have to start early," Dunn says. "They have to use their resources. They should not be waiting until the last minute".
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