We’re excited to announce a new initiative that partners CORT Furniture with educational institutions to provide valuable student furniture solutions. At a time when revenue is down at many colleges and universities, we’re launching our Partner Referral Program. It will provide these important establishments with a new source of revenue from a previously untapped market— off-campus student living. There are millions of college students living in off-campus apartments and rented houses, and they require temporary furnishing options on flexible terms. This new program enables universities to connect students with solutions from CORT, while earning schools a profit for every referral.
The participating school simply posts our furniture rental services listing along with off-campus housing information on the school website. The listing features a call to action that connects students to view furniture options online or speak with a CORT representative. For every student who uses this listing to access our services and secure a student furniture rental lease, the referring school will receive $75. It’s our way of rewarding the school for promoting our services. Meanwhile, students and parents benefit from the convenience of high-quality CORT student furniture rental. We’re enabling schools to provide this additional, valuable service to students.
CORT provides student furniture rental packages that are ideal for university students. At some schools, we even manage on-campus furnished housing programs that come with leased furniture packages. We’ve directly and indirectly worked with many universities to secure professional delivery and removal of rental furnishings as students move in and out.
We also have a furniture purchase-leaseback program, which allows institutions to sell us their furniture and then lease it back from us. The idea is to convert the physical asset of student furniture into working capital. CORT will remove or update the pieces as needed. The program cuts back on the cash flow, time and staffing required to maintain an in-house inventory of furniture at universities.