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University of Illinois apartment complex offers lower rates for repeat renters

April 28, 2010 - Students at the University of Illinois may be able to pay less for housing in the coming years, as a private apartment complex has announced the launch of a new program to help repeat renters save money.

Residents who lease an apartment at the Illini Tower for the fall 2010 semester will be eligible to reduce their rent for the successive year if they choose to renew their contract. Each year, the monthly rate for a 10-month lease will decrease by $10 per student. As a result, students who live in the complex for four years could save up to $600 over the course of their college career.

John Iannuzzo, vice president of marketing for Campus Living Villages - the company that manages Illini Towers - said that this initiative is "designed not just to take the guesswork out of calculating housing expenses with a guaranteed rate, but also to create some discretionary savings as residents progress through their coursework to offset increases in other college-related expenditures."

Students who live in the Illini Towers may choose from a wide variety of units, ranging from studios to four-bedroom, two-bathroom suites.

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