Unlocking New Revenue Streams: The Power of Internet as an Amenity in Multifamily Properties

In today's competitive multifamily housing market, property owners and managers are constantly seeking innovative ways to enhance resident satisfaction, streamline operations, and boost financial performance. One such strategy gaining momentum is offering high-speed internet as an included amenity.

According to the 2024 NMHC Renter Preferences Survey Report, seamless connectivity is no longer a luxury but a necessity for today’s renters. Nearly 90% of respondents said they require strong internet service and wouldn’t rent a unit without it. Additionally, 87% believe having internet available immediately upon move-in is very important or essential, with 61% of remote workers saying it’s absolutely essential. This highlights why property-wide internet is critical to supporting the demands of work-from-home lifestyles.

Managed Wi-Fi, or bulk multi-family fiber internet service, not only meets the growing demand for reliable connectivity but also presents a lucrative opportunity to generate recurring revenue for multi-family property owners.

Why Bulk Internet as an Amenity Makes Financial Sense

Integrating internet access into your property's offerings can significantly impact your bottom line. Here's how:

• Increased Net Operating Income (NOI): By offering fiber internet services within the rent with a modest markup, property owners can generate new recurring revenue streams.
• Lower Costs for Residents: Bulk pricing allows residents to access high-speed fiber services at up to 50% less than they would pay individually, making your property more competitive during lease-up or renewal cycles.
• Predictable Operating Costs: Locked-in pricing over multi-year agreements helps stabilize tech amenity expenses and supports long-term budget planning.
• Higher Resident Demand: Nearly half of renters (47%) check mobile and Wi-Fi connectivity while touring rental homes, showing that strong connectivity can directly influence leasing decisions.

Operational Benefits: Streamlining Management

Implementing internet as an amenity also simplifies property management:

• Proactive, White Glove Support: Partnering with a reliable internet service provider ensures that issues are identified and resolved before residents even notice, reducing tickets, calls, and complaints.
• Guaranteed Service Performance: Custom Service Level Agreements (SLAs) ensure consistent uptime and reliability, tailored to meet your building’s unique Key Performance Indicators (KPIs).
• Dedicated Account Management: A named account manager serves as your single point of contact, handling everything from installation timelines to resident escalations.

Enhancing Resident Experience and Retention

Offering fiber internet as an amenity doesn't just benefit the property owner—it also significantly enhances the resident support experience:

• Enhanced Leasing & Retention: Including internet as a standard amenity or offering it as a move-in incentive helps close leases faster and boosts retention rates.
• Seamless Move-In Experience: When new residents move in, their internet service is already set up, eliminating the need to wait for installation or open a new account with an internet provider. This streamlined process allows remote workers to start video conferencing and working from home immediately.
• Community-Wide Connectivity: Internet connectivity agreements can include seamless connectivity throughout the entire apartment community, allowing residents to access Wi-Fi in common areas such as fitness rooms and pool areas, without dead zones.

Getting Started

To capitalize on the benefits of offering internet as an amenity:

1. Assess Your Property's Needs: Evaluate the size of your property, resident demographics, and current internet infrastructure.
2. Choose the Right Provider: Partner with a reputable service provider that offers reliable connectivity and comprehensive support.
3. Implement Seamless Integration: Ensure that the internet service is seamlessly integrated into the resident experience, from move-in to ongoing support.
4. Market the Amenity: Highlight the inclusion of internet in your marketing materials to attract tech-savvy residents.

By strategically implementing property-wide Wi-Fi as an amenity, property owners can not only enhance resident satisfaction but also unlock new revenue streams, positioning their properties as leaders in the modern rental market.

Have questions or want to bring high-speed internet to your building? Contact our Team to get started or call us directly at 979.571.8178 to learn more about high-speed internet for multi-family units.