Where Does Your Rent Dollar Go?
The outstanding services and programs that make living in University Housing an enjoyable and productive experience require a great deal of resources. Dedicated staff (both student and professional), utilities, debt service payments and capital improvement projects name just a few of the many expenses incurred to provide comfortable, affordable and secure on-campus housing options in residential communities where the academic success and personal growth of residents are encouraged and supported. If you have ever wondered where your rent dollars go, we would like to help illustrate how useful each and every penny can be.
28% Personal services
Personal services accounts for the salaries, wages and benefits of the University Housing staff; including but not limited to: maintenance, facilities, custodial, residence life, assignments, business, security, etc.
23.74% Debt services (mortgages)
Paying off long-term debt associated with past large scale capital projects results in debt service payments each year. East Campus Village, built in 2004, as well as the newly finished Building 1516, accounts for the majority of debt obligations. Both of these projects were financed by the UGA Real Estate Foundation.
20.77% Capital improvements
Each year, any revenue amount that exceeds operating expenses is contributed to University Housing’s fund balance. In order to keep the buildings as up-to-date as possible, all halls are assessed for renovation needs. For instance, this past summer, a new HVAC system and sprinkler were installed at Mary Lyndon. Also, the foyer area was completely renovated, and an accessibility ramp was added to the back side of the building; Payne Hall received an extensive systems replacement; landscaping was improved at Brumby Hall; the hot water systems were replaced in Lipscomb and Soule Halls, Building P in Family and Graduate Housing was modernized, and many more projects were completed for the 21 traditional residence halls and 20 Family and Graduate Housing buildings. Keeping up with the extensive number of residential facilities at the University of Georgia is an expensive task.
With the rising costs of natural resources, energy costs have also increased. The luxury of having all utilities included in rent utilizes a significant portion of the rent dollar. For instance, last year alone, University Housing paid more than $3 million in utilities.
The high-speed Internet and expanded cable services, as well as keeping up to speed with modern technology advancements, can be a significant portion of the rent dollar for University Housing residents.
16.73% Other operating expenses
The remaining portion of the rental income goes to pay for other services such as insurance, administrative overhead, supplies, and regular repairs and maintenance.