Where does your rent dollar go?
The great services and programs that make living
in the Department of Housing such a huge success take a great deal of
resources. Not only in dedicated staff, both student and professional,
but also in supplies, materials, utilities and a myriad of other areas.
If you have ever wondered where your rent dollars go, here is an
illustration of how each and every penny is utilized.
40% Capital Improvements and Routine Replacements
In order to keep the buildings operating and as up-to-date as possible,
all halls are on a constant maintenance and renovation cycle. For
instance this past year Harrison and Howell got new HVAC, Smith received
new carpeting, and HVAC units, and many units were completely
re-carpeted and painted, new and newly reupholstered furniture was
placed in several halls, over 750 new mattresses were brought in, and
many more projects were undertaken. Residence hall renovations, as
opposed to new construction which falls under "debt service", also must
be funded from this area. Tower (2013) and Glenn (2014) are being planned and executed now.
18% Personal Services
Personal Services accounts for the salaries, wages and benefits of
Department of Housing staff; including but not limited to: Maintenance,
Custodians, Shops (HVAC, electrical, lock, carpentry), RAs and PLs,
Central Staff, etc.
The luxury of having all utilities included in rent comes at a
significant portion of the rent dollar. For instance last year alone,
Georgia Tech Housing paid over $8 Million dollars in utilities alone. We
are adding new systems and doing our best to conserve, and all
residents must pitch in to bring this cost down.
14% Debt Services
In select cases, we have borrowed money and have to pay it back - just
like a mortgage. Paying off long term debt associated with past large
scale capital improvements, for example the halls that were built for
Olympic Housing in 1996 were funded by Georgia Tech and are still being
paid off (Sixth Street, Maulding, Crecine, Eighth Street, Center Street,
Fourth Street), as well 10th and Home Family Housing (2005) and the
acquisition of the North Ave Apartments (2007).
The high-speed internet, and expansive cable TV services, as well as
keeping up to speed with modern technology advancements can be a
significant portion of the rent dollar for Department of Housing
residents. Completing and upgrading the 100% Wi-Fi of all halls came from this area of
11% Other Expenses
The remaining portion of the rental income goes to pay for other
services such as insurance, administrative overhead and supplies and
materials to keep it all running. Repairs of damages and vandalism, as
well as the supplies custodians use daily, are housed in this budget
It is easy to see that operating a safe and
educationally supportive housing enterprise can be very costly. However,
we in the Department of Housing are working very hard to run as
efficiently and effectively as possible, to spend our resources wisely,
and to continue to meet your needs! You can help by reducing your
energy consumption and recycling, as well as letting us know who
vandalizes and damages our buildings.