By Mike Manfredi
Several of RealtyCom’s Clients are exploring short-term housing. Some want to use short-term housing as a temporary solution to vacancy during the lease-up stage of a new project while others are exploring short-term housing to enhance long-term net operating income (NOI). Both objectives entail operational issues that are beyond RealtyCom’s scope of work; however, careful telecommunication considerations are needed and generally fall into two (2) categories:
- Telecom Agreement – Most Clients want to provide the short-term guest with high-speed Internet in their unit and common areas during their stay. In addition, some clients want to include some level of cable television service as well. In properties in which our Clients have entered BULK arrangements, this is quite easy. However, in properties in which our Clients have chosen multiple providers, each with non-exclusive marketing rights, and each providing multiple services, this is more problematic. Most providers do not want to provide flexible, discounted service to short-term units, nor do they want to provide consolidated billing. RealtyCom has been able to help clients in workarounds that provide flexibility and do not breach the anti-bulk provisions contained in many telecom provider agreements.
- Infrastructure – Some Clients want to have a property-wide Wi-Fi network with SSID’s used for smart apartment features, property management and the short-term guest. This is relatively inexpensive if included in the LV Plans during construction but can be very expensive if done after construction is completed. To work, enough conduit pathways from the MDF to each IDF must exist as well as the necessary media (e.g., Cat6 cabling) from the IDF to the ADP.
If an owner intends to provide short-term housing or if the Client believes that a buyer might wish to do so, this should be considered during the design phase of the project in order to reduce costs. Contact info@realtycompartners.com with any questions.
