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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. This approach not only meets the growing demand for reliable connectivity but also presents a lucrative opportunity to generate recurring revenue.
Why Internet as an Amenity Makes Financial Sense
Integrating internet services into your property's offerings can significantly impact your bottom line. Here's how:
Increased Net Operating Income (NOI): By offering 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.
Operational Benefits: Streamlining Management
Implementing internet as an amenity also simplifies property management:
Proactive, White Glove Support: Partnering with a reliable 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 internet as an amenity doesn't just benefit the property owner—it also significantly enhances the resident 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, internet service is already in place, reducing the time and waiting period to open a new account with an internet service provider - streamlining the process.
Community-Wide Connectivity: Bulk agreements can include seamless connectivity throughout the apartment community, allowing residents to access Wi-Fi in common areas such as fitness rooms and pool areas.
Getting Started
To capitalize on the benefits of offering internet as an amenity:
Assess Your Property's Needs: Evaluate the size of your property, resident demographics, and current internet infrastructure.
Choose the Right Provider: Partner with a reputable service provider that offers reliable connectivity and comprehensive support.
Implement Seamless Integration: Ensure that the internet service is seamlessly integrated into the resident experience, from move-in to ongoing support.
Market the Amenity: Highlight the inclusion of internet in your marketing materials to attract tech-savvy residents.
By strategically implementing internet 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.