DALLAS-A relatively new concept in off-campus housing is fueling the development side as more lenders accept the modern-day “commune” lifestyle. Renting by the bed versus unit brings flexibility as well as better returns, say Texas executives.

The developer can shave costs by building a four-bedroom unit around shared living, kitchen and bath areas and student tenants get higher-end accommodations at a far cheaper monthly rate than traditional renting.

NorthMarq Capital Inc. says lenders like the new product and Irving, TX-based developer JPI, one of three or four in the nation pushing the notion, like the returns. The best part is it comes with parental guarantees that rent will be paid for the full year — reducing the risk factor in catering to a single-source base and students at that, Tom Lueder, NorthMarq's vice president in Dallas, tells GlobeSt.com. It's also a given that the driving force — established universities — aren't going to pick up and leave.