Acquiring a Property
It is the mission of WPN Housing Company, LLC (WPN) mission to provide a quality, safe, and affordable chapter home that is competitive with each chapter’s campus/fraternity housing, relevant to current student housing desires and expectations and a safe environment for Sig Tau members.
Housing for Sig Tau chapters varies from campus to campus. Many chapters operate housing through a local housing corporation or WPN Housing; others utilize partnerships with college/university housing or other third parties.
WPN has two types of property styles: owned and managed. Owned is where WPN owns the land & building in addition to managing the facility. Managed is when WPN helps manage the property in conjunction with a landlord or college/university. One property type might fit your campus culture better which is why we are able to work with all types and support our chapters in various ways through each style.
Benefits of a Managed and Owned Property
Consider the following when preparing to acquire first-time housing or when considering building or renovation project.
When it comes to supporting a chapter house, a strong chapter and chapter-size are necessary. Competitive housing can be an excellent recruiting tool on your campus; however, a house cannot create a strong chapter. The foundation for a strong chapter must be in place before a chapter should seek out a chapter house.
A committed alumni organization and alumni base is one of the chapter’s greatest assets. Alumni-led organizations that are legally registered and compliant with all state and IRS requirements help direct the efforts and long-term vision for a chapter house.
Alumni volunteers that serve as chapter advisors are also essential to running a successful chapter house. A chapter that has a house adds a layer of complexity. Active alumni volunteers assist chapter officers in all aspects of chapter management including emergency preparedness, member safety, social event planning.
The availability of housing varies from campus to campus, but finding the right property for your chapter is vital. Chapters and alumni chapter/housing organizations need to be sure that their assets are economically feasible with a business plan that makes sense.
Location and the overall condition of the property are important to consider. Proximity to campus, zoning requirements, and neighborhood should all be taken into consideration. Chapters will want to have a chapter house that will also not have deferred maintenance concerns so that all their funds are put into the property.
Finally, choosing the right facility for the size of the chapter is vital to the decision-making process. Ideally, the chapter size is twice the capacity of the facility and live-in expectations are shared with all potential new members to ensure the house is at capacity at all times.
Long Term Planning and Savings:
Planning for a successful chapter house program is essential. Committed alumni organizations that operate a strong business plan, including an excellent alumni communication strategy and regular fundraising program, will succeed. Chapter and alumni organizations’ also should set aside funds for unforeseen repair and maintenance items, future upgrades, or future acquisition. Interested in taking the next step? To learn more about acquiring property for your chapter, please call 317-644-1920.
Investment Account Agreement – This form is the legal agreement signed between WPN Housing Company, LLC. and the chapter, alumni association, or house corporation to enter into participation in the WPN Investment Account.
Housing Participant Application – This application is to be filled out by chapters, alumni associations, or house corporations interested in securing a new chapter facility or renewing their housing lease with WPN Housing Company, LLC.
Housing Participant Application
Housing Participant Application: Property Transfer – This application is to be filled out by alumni associations or house corporations interested in transferring the management or ownership of housing assets to WPN Housing Company, LLC.
Housing Participant Application:Property Transfer
Financial Asset Participant Application – This application is a supporting document to the Housing Participant Application and Housing Participant Application: Property Transfer. This form is to be filled out by chapters, alumni associations, or house corporations transferring financial assets to WPN Housing Company, LLC.