Regents approve OSU housing rate increase

Friday, March 3, 2006

The Oklahoma State University System/A&M College Board of Regents approved Friday a 5.9% rate increase for housing on OSU’s Stillwater campus.

The measure was approved in response to rising utility costs and operations expenses, with the former projected as much as 10% for natural gas, 20% for chilled water, 33% for electricity and 50% for steam.

Before applying the 5.9% increase, OSU’s Department of Residential Life adjusted the rates for several housing units. The rate restructuring decreased some rates and increased others.

“We set the rates for some of our two-bedroom, one-bath deluxe suites at a price we thought was appropriate compared to other units, and after two years, it appears we had set the price too high in comparison to the perceived value by students,” said Dr. Bob Huss, director of Residential Life. “We had other two-bedroom, full apartments with constantly long waiting lists, and balancing the market demand for those meant increasing the cost.”

Monthly rate changes for next fall following the board’s vote range from a $2 decrease to a $49 increase per resident per month. Most rates show an increase of $20 to $30.

In addition to offsetting rising expenses, the rate increase will allow for significant repairs and renovations to university apartments and residence halls.

“OSU has exceptional living accommodations at a very competitive price, and we want to make sure we can continue to provide students on campus the kind of attractive housing options and services they’ve come to expect,” Huss said.

The Regents also approved a 6% increase in room rates and a 2% increase in board on the OSU-Okmulgee campus.  The new rates are effective this fall and result from significant cost increases in repair/maintenance, utilities and food.