Viewpoints
High-speed internet access is nearly as important to renters as air conditioning. However, implementing, supporting, and managing a bulk connectivity offering can be challenging.
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It’s no surprise that the need for strong, reliable connectivity is more important to renters than ever. And unlike other traditional amenities that incur heavy capital expenses upfront – pools, gyms, or high-end common areas – bulk internet represents a relatively low cost to entry for owner/operators, with potential opportunities for added revenue as well.
Although the value is clear, many remain skeptical about the practicalities of deploying a bulk technology program of any kind at the property level. And when this initiative is taken on by owner/operators in-house, deploying and managing these programs becomes an especially difficult and time-consuming process. How can you manage and support the program without overwhelming on-site staff or leaving residents to fend for themselves?
Kim Crouch, Director of Asset Management at Great Lakes Capital, has experienced these challenges firsthand. “I have attempted to roll out bulk internet programs before and, without fail, have had unreasonable hiccups that distract our on-site teams from the business,” Crouch said. “We can’t have the site team not leasing apartments because they are trying to manage technology or diffuse unhappy residents.”
Ensuring a seamless resident onboarding experience is the first priority when considering a bulk technology deployment, especially for something as essential to residents as internet services. According to Crouch, many of the issues residents experience upon first moving in are not service problems, but simply user errors. The property staff are often the first line of defense against these initial complaints, putting undue stress on on-site teams.
A successful bulk technology program of any kind must first address how to solve these issues and for Crouch, that means partnering with a third-party partner like Onboard to manage the program roll-out and support. By leveraging Onboard to create and maintain those seamless experiences for residents, site teams no longer have to intercept resident questions or deal with technical issues. Plus, strains are not placed on in-house resources to manage the complexities of bulk contracts and billing with service providers.
Having seen the benefits that can be reaped with the help Onboard, Crouch now includes the partnership as a crucial element of Great Lakes Capital’s development and acquisition strategies. “I automatically underwrite our deals with a bulk program and this type of third-party partnership Onboard provides,” Crouch says.
Not only can these programs enhance the resident experience, they can also drive significant value for the property. In Crouch’s experience, a bulk internet program at a 300-unit property can drive an average of anywhere from $1.5 million to $2.5 million in value for the property. “It’s a no-brainer,” Crouch says. “It’s a good, solid result – and it’s profitable.”
But for Crouch, it all comes back to creating and maintaining positive, value-add experiences for their residents. After selecting a 300-unit property as a pilot with Onboard, Crouch was amazed by the overwhelming success the property experienced when deploying the program, especially the positive impacts on the resident experience – a first for Crouch when it came to rolling out bulk internet. “The residents were truly excited about the program,” Crouch said.
About Onboard
Onboard partners with the nation’s leading service providers to create, support, and mange profitable bulk technology programs, from contract negotiation and resident enrollment to program revenue management. Connect with the Onboard team to learn more at www.letsonboard.com.
