Podcasts
Ilan Eframian, of Xfinity Communities, joined Elizabeth Parks, from Parks Associates, to review emerging connectivity expectations of renters.
By Brad Randall, Broadband Communities
Connectivity is a key part of decision making when renters are considering where to live, according to Elizabeth Parks, the president and CMO of Parks Associates.
Parks joined Ilan Eframian, a VP from Xfinity Communities, on Beyond the Cable to discuss some of the insights revealed in recent research by Parks Associates, which closely studies the broadband and multifamily markets.
The research, published by Xfinity Communities, said 41% of renters expect instant-on connectivity when they move into a new place.
As Parks stated, the data is well-researched. Parks Associates surveys around 8,000 internet households per quarter in the U.S., she said.
Parks said renters now expect frictionless move-in experiences. Eframian added to that, saying new demands from renters has increased the need for managed Wi-Fi solutions at multifamily properties.
Removing first-day friction for renters is key
He said ridding movers of “first-day friction” can lead to happy residents that are able to use connectivity services “as soon as they turn the key.”
Parks agreed, saying research reveals a lift in NPS scores when managed Wi-Fi is in place at multifamily properties. She also said the value created by those services is apparent to many residents.
Listen to the full interview with Parks and Eframian on Apple Podcasts
“We know that properties look to differentiate themselves in different ways, and having premium offerings that have managed Wi-Fi with gigabit speeds does become really important,” she said. “And consumers are ranking this internet amenity as the number one thing that they’re paying attention to when they look at their next home.”
Further, Parks anticipates the market will continue to move towards building in managed Wi-Fi services as another fee renters pay for.
Parks also called attention to the large discovery process for owners and operators when it comes to understanding what services managed Wi-Fi can enable.
Overall, she said managed Wi-Fi should be seen as an enabler that can serve as a catalyst for multiple revenue streams.
Security features are top of mind
Eframian discussed some of the other benefits managed Wi-Fi services can provide, beyond customer satisfaction.
He said access control systems can give on-site property management staff better visibility into entire properties, allowing staff to focus on residents and not a constant flow of package and food deliveries.
Parks stressed the importance of Eframian’s assessment, highlighting that security is a top demand at the moment, even above covered parking.
“Consumers, as they move through life’s stages, they have different needs but safety and security is always at the top, no matter what demographics we’re looking at,” she said.
