A distinguished multifamily owner-developer in the Northeast recently had a happy surprise thanks to two members of our finance team, Megan Jackson and Jen Klein. Our client recently completed construction on a Class A, urban development. They chose to offer their residents a mix of telecom providers, and had contracted with Comcast to provide telecom services.

The surprise began when Jen audited revenue share payments for that client (who prefers to remain anonymous). She realized that payments due to our client had not been triggered. When she investigated further, Jen discovered that Comcast had not been notified by the developer that the properties were completed once the Temporary Certificate of Occupancy was received. This is the step that would have initiated the upfront payments on non-exclusive marketing agreements. 

All phases of development are complex, and in the busy period following the issuance of the TCO, it’s easy to overlook an item on a long list of to-dos. In this case, it was an oversight that resulted in a significant payoff.

By closing the loop with Comcast, our team recovered more than $217,000 of unpaid telecom revenue for our client.

This is just one example […]

Working—and learning—from home. It’s the new reality for your residents.

This paradigm shift has created an insatiable demand for high-speed internet and WiFi streaming. Secure and reliable connectivity has never been more critical.

Multifamily industry leaders are realizing it’s time to shift to a new way of thinking about the possibilities of bulk and managed WiFi service for their properties. Beyond it being an enhancement to property amenities and enabler of our new way of life, it’s popularity lies in Bulk WiFi’s amplified value as an ancillary revenue stream.

Could moving from a “choice model” to an owner-sponsored bulk WiFi service and Internet program help you attract new renters? Could this move also increase your revenue and streamline operations? Could a managed WiFi network provide a gateway to new smart home features, alleviate “dead zones” for cellular calls by enabling WiFi calls and increase renter satisfaction and retention?

The answer to all of these questions is likely a resounding “yes” and could be your “Why” for deploying bulk WiFi.

Implementing a bulk WiFi infrastructure requires considerable planning and a well-thought out strategic plan. We’ve helped clients successfully navigate the path toward bulk WiFi and we can help you too. Please contact us for more […]