Bulk & Managed Wi-Fi Service Evaluation
Client Review: Large national multifamily owner engaged RealtyCom Partners on approximately 1,700 units to help them evaluate moving from a traditional “choice model” to a bulk Managed Wi-Fi model, and how that would enhance amenities and increase net operating income.
Client Review:
Many multifamily owners are analyzing how they can meet the almost insatiable demand for high-speed internet and Wi-Fi streaming at their communities and provide this valuable amenity, while aiding their operations teams and increasing overall revenue and asset value.
The Work:
To develop a thoughtful and strategic action plan for the owner, RealtyCom focused on five key areas:
- Due diligence and contract analysis of all existing telecommunications agreements to determine the ability to add bulk internet/Managed Wi-Fi.
- Evaluation of the individual property infrastructure and its ability to support new technology, comparison of Managed Wi-Fi and modem-based Internet solutions and deployments.
- Review of the existing Service Provider products and additional potential providers that could serve the communities.
- Competitive review to determine what level of service would be needed and cost/benefit analysis.
- Select and submit Request For Proposals to potential Service Providers to evaluate their offerings and advancements in technology, including coordination of site surveys and visits.
RealtyCom created a multi-level action plan that allowed our client to test offering bulk internet service at a few of their properties in a way to help them gauge portfolio-wide plans. The plan provided a methodical asset transition process to ensure optimum results and to minimize resident disruption.
RealtyCom’s standard Managed Wi-Fi assessment includes the following aspects:
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The Results:
RealtyCom sent over 60 RFP’s to evaluate and compare several different options with our client, working with our client to evaluate construction and financial impacts to ultimately select a winning provider. RealtyCom worked with our client and the provider to modify design plans, including conduit/wiring relocation, pedestal placements, antenna modifications, and where wireless access point type could be modified for aesthetics or improved delivery of service. RealtyCom was involved through contract preparation and discussions with the telecom attorney, all the way through rollout of the new service and measured success of the program. Our work helped create a path to add new assets to the program in a manageable timeframe.
In addition to bringing a desirable resident amenity to the property and residents, the Owner was able to pass on reduced service pricing to residents at a savings of approximately 25% while still significantly enhancing their net operating income and overall asset value by an estimated $5.6M. A Managed Wi-Fi network also allowed the owner to consider new smart home features, and alleviated “dead zones” for cellular calls which could now be made via Wi-Fi Calling.
Since partnering with RealtyCom in 2018, they have become like a part of our team providing valuable knowledge and resources to support our telecom strategy.
Since 2014 we’ve built a great partnership with RealtyCom based on our core principles of trust, and they continue to help us in telecom planning, negotiation, and contracts.
With every opportunity, we consider the needs of our employees, residents and communities we serve. RealtyCom has become part of this process and is one of our most respected industry partners.
RealtyCom’s deep knowledge, resources and focus has helped add value to our portfolio through new revenue sources. We have been fortunate to partner with a team whose values match ours.
RealtyCom has helped us enhance our resident services, find new revenues sources, evaluate opportunities, and above all, ensure that our residents are provided with the best possible telecom service.