With remote work being on the rise along with the world’s growing reliance on the internet, many property managers are turning to property-wide WiFi solutions to make their multifamily complexes more desirable.
Those who do, often install smart locks, thermostats, and lighting to increase the convenience, security, and value of their apartments.
Even better, not only do these changes increase the value of the complex itself, but they also increase resident satisfaction. Furthermore, property owners often charge their residents for access to the property-wide WiFi which in turn pays for the system and acts as an additional source of revenue.
There are many more benefits of property-wide WiFi from property managers having greater control to the increasing demand for apartments with the service.
What Is Property-Wide WiFi?
Before jumping in, what exactly is property-wide WiFi? While property-wide WiFi can simply mean having access to WiFi throughout the entire property; typically, there is a bit more to it.
Most multifamily complexes with property-wide WiFi will have public WiFi available in the common areas and private WiFi for each apartment.
The benefit of this method is that residents who may need higher internet speeds for streaming, gaming, or their work, can choose a plan that accommodates their needs.
While each apartment may have their own plan with different internet speeds, the WiFi is still all managed by the property owner under one system.
In a way, property managers become internet providers allowing their residents to upgrade their own private WiFi according to their needs while also providing public WiFi in the common areas.
10 Benefits of Property-Wide WiFi
On that note, here are the 10 benefits of property-wide WiFi:
1. Makes More Money
Property owners can integrate a property-wide WiFi system that allows them to provide internet subscriptions to their residents. In other words, just like with an internet provider, residents can choose a monthly WiFi subscription package as well as upgrade their package if they want faster internet speeds or more bandwidth.
Owners can price each package accordingly so that they can make a profit from it. Because of that, property owners can make an income from both the resident’s rent and WiFi subscription.
2. Increases the Rental Premium
Apartment complexes that offer in-house WiFi can command greater rental rates due to the convenience and demand for it.
On top of that, property-wide WiFi allows property managers to install smart tech which in turn raises the value and demand for the apartments. As a result, they can charge more for their apartments.
3. Increases Resident Satisfaction
Traditionally, when a resident moves into a new home or apartment, there is a gap in internet connectivity. Typically, the proper equipment like modems have to be mailed to the resident and there may also be a need for a professional to set up the equipment. Because of that, residents may be without internet access for a couple of days.
However, with a property-wide WiFi system, residents can have access to WiFi immediately. This is especially important for remote workers who need access to WiFi.
Property-wide WiFi also increases the resident’s satisfaction by:
- Providing Multiple Subscription Packages—Depending on the resident’s needs, they can change their subscription at any time allowing them to upgrade their internet speeds and bandwidth.
- Enabling WiFi in Common Areas—Having public WiFi in common areas allows residents to freely work and collaborate with each other on projects. It also allows for a “coffee shop experience” where residents can enjoy and work in the common areas.
- Allowing for Greater Flexibility—Lastly, property-wide WiFi not only allows for greater flexibility when it comes to switching between subscription packages and working in both common and private areas, but it also allows for WiFi-dependent devices like smartwatches, exercise devices, and more to be used throughout the apartment complex.
4. Enables Smart Tech
Smart Tech is only smart when it has access to WiFi. Property-wide WiFi opens up many opportunities to automate parts of the property. Property managers can install smart locks that open with a virtual key that residents can access on their phones.
Even better, managers can give access to certain areas and rooms of the property to each resident all through a mobile app. Staff-only areas, for example, can be locked to residents but not staff. All of this can be done without needing physical keys.
There is also an option to create a more of a “smart home” feel by equipping each apartment with smart thermostats, lights, and more that can all be controlled through a mobile app.
Self-guided tours and unlock notifications can all be possible by using smart locks. Property managers can give prospective residents access to an apartment all through an app and virtually monitor their visit through unlock notifications.
When it comes down to it, property-wide WiFi opens the door for a more high-tech and automated experience.
5. Raises the Property’s Value
Multifamily complexes with property-wide WiFi are more valuable than those that don’t have it. Having such a system in place not only offers more value to the residents and can command higher rental rates, but it also acts as the groundwork for future automation from smart locks to a better security camera system.
Because of the immediate value and the potential value of properties with such a system, the overall property value is greater.
6. Allows for More Flexibility
With a property-wide WiFi system in place, property managers are given a lot of flexibility in how they will use the system.
For example, they can provide both public and private access to the WiFi along with separate passwords, bandwidths, and area access to the WiFi.
Lastly, the amount of bandwidth, internet speed, and coverage can all be adjusted to accommodate the property and residents’ needs.
7. More Convenient
A property-wide WiFi system is convenient for both the manager and the resident. Managers are able to customize the system to fit their needs and offer their own subscription packages and prices to residents.
Property managers can also give visitors provisional access to the apartment complex and also give potential clients a virtual key to view an apartment. For apartment complexes with a secure parking lot, gate access and tracking can all be done through the central WiFi system.
Residents can enjoy a more automated experience from custom WiFi packages to even in-apartment package deliveries.
Plus, if smart locks, thermostats, and more have been installed in the apartment, residents can monitor and control their systems remotely.
8. Saves Money
While the set-up costs for property-wide WiFi may be on the expensive side at first, it can also save money in the long run. Such systems often receive priority support and cybersecurity professionals who ensure that the system is secure and continually updated. Which means that there is no need to pay for an outside specialist.
Plus, by having residents pay for their own private access, the system will eventually pay for itself and then some.
9. More Secure
Apartment complexes with property-wide WiFi are often more secure because the provider typically ensures that the systems are continually updated.
Security cameras and smart locks can also be used to keep track of who has access to the apartment complex and who is coming in and out.
A property-wide WiFi system also allows for:
- Admin Controls
- Network Monitoring
- Verified Connections
10. Allows for Greater Scalability
Scalability is huge especially for growing apartment complexes. With property-wide WiFi, managers can choose to extend or add extra access points.
For example, if there is a pool area or picnic area that does not have access to the WiFi, property managers can simply choose to extend the internet access to those areas.
As an apartment complex becomes more populated, there may be a need to increase the bandwidth, this can also be done instantly through a property-wide WiFi system.
How Hyper30 Data Can Help Property Managers
Property-wide WiFi is still relatively new and not many apartment complexes have it. Because of that, it is not always clear which provider is best. For example, while big-name providers offer their own set of packages, they often lack the customizability and personal attention that each apartment complex needs.
On the other hand, smaller providers may lack the resources and experience to effectively implement a property-wide WiFi system.
That is where Hyper30 Data comes in. We offer customizable solutions to meet the needs of our clients. On top of that, we don’t just provide property-wide WiFi; we also provide smart locks, thermostats, security, and lighting options.
In other words, we are a one-stop shop for all your needs. If you want to learn more about what we have to offer or want to get started, feel free to contact us here. Or you can email [email protected].