By Rush Blakely
Recently, I had the privilege of participating on a panel at the AIM Conference to talk about “Why Big Owners and Developers are Switching to Buying Internet in Bulk.”
It’s no surprise that the past year has truly shown us how dependent we are on having reliable Internet for working, schooling and shopping from home. For multifamily residents, this extends to being able to have consistent and uninterrupted WiFi at a friend’s apartment or even in common areas where co-working spaces became the norm—as well as filling in the gaps for cell phone coverage “dead spots.”
For operators, reliable WiFi also enabled mobile apps, smart locks, touchless leasing and more. In essence, property-wide managed WiFi has become the foundation for technology—and the most important amenity—as well as a viable way to earn ancillary income.
As the demands for bandwidth have increased, record numbers of developers and owners of existing properties are building or switching to property-wide managed WiFi; however, the decision for what technology to implement and how to do so isn’t always easy.
For example, if you were to issue an RFP and five vendors responded, there is no guarantee that what you would get back is an “apples to apples” comparison. To determine the best vendor option to meet your specific needs, you need to zero in on the scope of work, what your expectations of the vendor are and most importantly, what your expectations are for the project outcomes.
Once you understand what you’re trying to accomplish, whether it’s providing a best-in-class amenity, trying to solve cell phone coverage issues or devising a platform for smart apartment deployments—or even looking to add NOI—that will help you narrow down which providers you want to evaluate. Once you make the decision, the transition plan begins. And whether you need to make this transition over several months or a year, a strategic approach and efficient project management are needed to make it successful.
If you’re considering making the transition to Property-wide Managed WiFi, we can help you analyze the cost, benefits and revenue potential. Please contact us for more information about a tailored strategy for your portfolio.
Smarter apartments. Real revenue.