Lease renewal rates increase when amenities in apartment communities meet the needs of residents. Multifamily operators incur significant expense turning over vacated units when dissatisfied residents move. Adding the right amenities to retain existing residents can be profitable. This becomes very attractive to owners when these amenities improve your ROI.
Meeting Digital Lifestyle Demands
Telecommunication services are the backbone of your residents’ digital lifestyle. First, owners must identify existing telecom vendors, services and contracts on each property. Often, this research brings surprising results due to the lack of services or types of services in place today. Next, it is necessary to check if better telecom services are available or if the existing services suffice for the targeted residents. Each multifamily property presents a unique telecom environment – different communities need different digital solutions. Student housing, for example, often requires faster internet services compared to a senior property. Managed networks (third-party company that builds, manages a communication network) are often a great solution for student housing. This research provides the insight needed to leverage equipment and service updates with providers. These valuable steps ensure that the right digital solutions are delivered to your residents.
A Competitive Edge
The latest telecommunication services and solid contracts give your multifamily properties a competitive advantage and helps keep units occupied. Today’s residents expect increasingly faster internet and technologies that are often available in single-family homes. Choice can help you determine which technologies will best serve your residents from the Internet of Things (IoT) and Fiber To The Door (FTTD) to bulk services and property-wide Wi-Fi. Even Baby Boomers are demanding faster internet for work and recreation. Knowing and leveraging telecom updates during vendor negotiations is key to providing the right services to your residents.
The Right Choice
Choice Property Resources exclusively represents multifamily owners, managers and developers. We have years of experience negotiating the best telecommunication solutions for our clients. Strong vendor relationships enable us to work with the telecom companies on your behalf. The Choice team closely follows telecom trends and regulatory changes so we can offer advice about the latest technologies and services property-by-property. Our client’s always have the final approval regarding the types of services and updates that Choice will negotiate for each property. We also follow up on all vendor installations commitments, particularly upgrades and investments that benefit your properties. From execution through the life of the contract, Choice provides complete vendor contract management. Choice helps you maximize the value of your portfolio with solid and profitable telecom contracts and services. We alert you when new telecom services are available and when you can profit from early contract renewals opportunities. Choice also track vendor payments to ensure the accuracy of revenue payments.