The following is the second installment of our two-part series focusing on the key factors developers and property owners should consider when selecting a multifamily internet provider for their communities. If you haven’t read Part 1 yet, find it here.
Today, many refer to internet service as a “fourth utility.” While multifamily property residents might feel that getting online is just as essential as running water, power, and gas, developers and owners have many factors to weigh when choosing the right multifamily internet provider. Once again, we’ll revisit an earlier interview with Sarah Jordan, director of sales with Quantum Fiber. Along with her added perspectives, this article looks beyond speed, reliability, and cybersecurity and dives deeper into other key considerations.
4. Property-wide WiFi options
The expectations of people living in multifamily communities are rapidly changing. Simply having “internet service” only in their home won’t cut it anymore. Residents want to live in an “internet everywhere” environment that lets them continue streaming TV or gaming on wireless devices wherever they roam. Finding a service provider with innovative wireless solutions and some WiFi “wow factor” can bolster a property’s appeal to current and potential tenants.
It is essential to determine if a provider can equip buildings with a separate public WiFi network for common areas. This includes leasing offices, workout rooms, lobbies, club rooms, or the pool area.
“We help eliminate the guesswork and build tailored solutions,” said Quantum Fiber’s Jordan. “Cutting edge, fully digital property features like Quantum Fiber’s bulk service, property-wide, private connectivity, and resident instantaneous WiFi activation. Plus, our proposal planning can include residential-level considerations and infrastructure solutions to help meet a community’s needs.”
5. Data limits
While easy to overlook, some providers may impose data caps, depending on which type of service they offer. These limits are backed by the idea that networks only have so much available bandwidth. If there’s a monthly ceiling for all customers, no single subscriber can consume more than their fair share. As an internet technology, fiber offers a clear advantage in this regard by providing extraordinarily high bandwidth.
Running a multifamily community with hundreds of residents who use thousands of connected devices and IoT technology, makes finding an unlimited data option a “must.” Quantum Fiber has no data caps on internet service, so property owners can avoid the worry of overshooting limits, possibly incurring extra costs, or having those costs passed along to their residents or homeowners. An “unlimited data” plan can be an ideal choice for multifamily customers.
6. NOI
Location may be everything, as the saying goes. But for today’s property owners, attracting residents and improving net operating income (NOI) is “everything else.” Owners know they should focus their investments on essential amenities for their communities. Since high-quality internet and technology solutions usually score at the top of resident surveys, investing in connectivity makes a great deal of sense. When a property has top-notch internet service, owners stand a better chance of drawing and retaining more residents.
Developers and property owners have several benchmarks for realizing a return on their fiber investment:
1. Fiber technology can help them enhance their property values.
2. They stand a better chance of attracting and retaining more satisfied, tech-savvy residents.
3. There can be potential for new revenue.
For example, a bulk plan from Quantum Fiber can allow owners to take advantage of more attractive rates and work with design and engineering teams to get the best possible speed upgrades for their entire communities. An all-inclusive bulk service can also create a new revenue stream if owners build internet service fees into the rent or pass their savings to residents.
“From my experience,” Quantum Fiber’s Jordan adds, “properties that account for all the benefits of their investment have greater assurances with their investors or future property buyers.”
7. Customer service
Reliability and customer service often go hand in hand. A good multifamily internet provider proactively keeps hardware and software up to date to avoid downtime. Even with Quantum Fiber’s impressive 99.9 percent reliable* network, service issues may eventually come up. Good customer service is measured by how quickly a provider can help properties restore a connection and get the service back up and running. Residents may also need help and support, and they won’t want to wait until tomorrow or next week for answers. The fully online Fiber Customer Success Team with Quantum Fiber puts customers in control of their service experience. Residents can use a smart device to connect with self-service options for managing their account, upgrading service, reporting issues, or receiving live chat support any time, 24/7.
*Based on network uptime or availability.
8. Find a partner
There is no question that developers and property owners have a lot tied up in their investment. Finding a multifamily internet provider they trust can be a step toward enhancing that investment’s current and future value.
The speed, reliability, security features, and technology innovations that an internet service offers are important. But finding “the whole package” often means identifying a true internet partner who understands what makes a property unique and different, internalizes an owner’s needs, and acts as an advocate by keeping the best interests of their community in mind.
As Quantum Fiber’s Sarah Jordan puts it, “our teams of Connected Communities experts dedicate themselves to working with developers and owners to go beyond providing world-class fiber internet. They create customized solutions that best fit each unique community they serve. They work hard to build relationships, provide white-glove experiences, and develop reasons why potential residents will choose to live at one property instead of another.”
Finding a committed internet partner is the most critical decision owners can make for the future connectivity of their properties.
It’s essential to find a service that can grow and expand with evolving technologies and increasing resident demands. Plus, forward-thinking owners who focus on meeting those challenges position themselves well to thrive both today and tomorrow.
“Working together with property owners and their teams,” Jordan said, summing up, “we can keep properties and residents’ smart-connected worlds in motion.”
Quantum Fiber® Connected Communities provides customized fiber solutions for apartments and communities.
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