It's What Residents Want: Community WiFi

Owners of Multi-Dwelling Units (MDUs) are always searching for ways to attract and retain residents at their properties. They do this by designing properties that stand out from the competition, offering new and exciting amenities in hopes that it will result in tenants wanting to live at their building rather than someone else's.

So much of that focus in recent years has been on offering amenities such as on-site community spaces, upscale fitness centers, pools and much more. But, a new report released recently shows that MDU property owners are missing out on a prime opportunity to give residents exactly what they want.

The report, which Parks Associates conducted for SmartRent, found only 3% of renters have access to WiFi service that is modern and managed, and only 1% are able to roam around their properties and have uninterrupted service.

Yet, 79% of the renters surveyed said they were interested in this type of seamless connectivity.

In other words, there is a huge disconnect between MDU property owners and the renters they are seeking to attract. This disconnect is only likely to continue to grow as more aspects of our daily lives are reliant on modern WiFi, emphasizing just how important it is for property owners to give renters exactly what they want.

Residents Value Internet Service, and Would Pay for It

Internet service at MDU properties has long been a necessity for renters. Yet, over the last few years, the type of internet service that these renters want, and need, has changed dramatically.

Just about all renters have either a wired internet or WiFi service within their individual units. But, not all have the quality of modern internet service that is necessary to power everything they might want, including smart home devices such as video doorbells or home assistants.

In addition, a majority of market-rate renters said they would be willing to pay even more to have continuous WiFi access outside of their units. According to the Parks Associates report, 64% of renters said they'd pay at $49.99 per month at least for this service. Another 48% said they would pay $79.99 per month for WiFi service that provided speeds of a gigabit or more.

What's more, MDU properties that provide modern managed WiFi service gain a 26-point increase in their NPS, or net promoter score, when compared to other properties that only offer traditional internet service through retail companies, and a 33-point increase over properties that have either a single access point for many units or legacy WiFi services.

But, perhaps most importantly from an MDU property owner's perspective is that more than half of the people who participated in the Parks Associates report said that having a modern managed WiFi system was a major factor in where they would decide to live next.

Managed WiFi Essential for Future of MDU Properties

The fact that so many renters desire modern managed WiFi service is reason enough for MDU property owners to make it a priority in the near future. In addition to the huge benefit of creating a more attractive community for residents, this type of internet service also helps lay a solid foundation for property owns who want to optimize their own operations.

Today, there are so many great tools that can help property owners become more effective and efficient in their operations. Everything from self-guided tours and centralized leasing, to automation, asset protection and remote access are all possible -- but only if you have the managed WiFi service that makes it possible.

In other words, this internet service doesn't just give residents what they want. It also provides MDU property owners with what they need to run a modern, successful and efficient operation for years to come.

For instance, having managed WiFi services allows property owners to install smart appliances with sensors in units that will automatically shut off if there is an issue -- thereby saving costly repairs that could be caused by a water leak.

It also allows property owners the ability to streamline internal operations such as tours of apartments, application and lease signings, and rent collection. Plus, it provides significant layers of protection at a time when data security is becoming all the more important.

Get Modern Managed WiFi with Elauwit

The Parks Associates report clearly outlines just how essential modern managed WiFi is today for owners of MDU properties. Offering such a service is a no-brainer from a theoretical perspective, but it can feel daunting from a logistical standpoint.

That's what Elauwit is here for. We are a boutique telecom services provider that has years of experience working hand-in-hand with all of our clients. We help you analyze your current internet infrastructure, design a customized plan for your property and even help you build it out and manage it.

Contact us today to learn more about how we can help you stand out from the competition with modern managed WiFi at your MDU property.