Internet Services

In today’s competitive market, property investors are looking beyond the traditional methods of raising rents and fees to boost their Net Operating Income (NOI).

This is where innovative value-add strategies come in. The reality is that it’s actually possible to increase NOI for multifamily properties without increasing rent year after year and pricing yourself out of the local market.

After all, a recent study found that properties that prioritized tenant amenities and technological enhancements saw an average NOI increase of two to four percent—significantly higher than those that focused solely on rent hikes.

Read on for some of the most effective strategies you can put in place to keep your residents happy and increase your bottom line.

WHAT DOES NET OPERATING INCOME MEAN?

Understanding net operating income helps you evaluate a property’s financial health and make informed decisions about improvements and investments. So let’s take a closer look at what NOI is.

Definition of NOI in Real Estate

Net Operating Income (NOI) is a key performance metric in real estate that measures the profitability of an investment property. It is calculated by subtracting operating expenses from the total revenue generated by the property.

Put simply, NOI is the income your property makes once you’ve taken out all the operating expenses but before subtracting any costs for loans or taxes.

 

6 STRATEGIES TO INCREASE NOI FOR MULTIFAMILY APARTMENTS

 

1. Make Energy-Saving Improvements

According to the U.S. Department of Energy, energy-efficient buildings can save up to 30 percent on energy costs, directly contributing to higher NOI.

As a multifamily apartment building owner or manager, you have numerous opportunities to enhance energy efficiency and significantly reduce operating costs as a result.

Consider upgrading to LED lighting systems and adding motion sensors or dimmers in common areas for lower energy use. Transitioning to high-efficiency HVAC systems, coupled with programmable smart thermostats, can optimize your heating and cooling schedules, while regular maintenance ensures peak performance.

Incorporating renewable energy sources like solar panels and upgrading to Energy Star–rated appliances can further decrease energy consumption throughout a building. Capitalizing on smart technology, such as smart meters and plugs, allows for real-time energy management, making your building more sustainable and attractive to eco-conscious tenants. These improvements not only benefit the environment but also enhance the value and competitiveness of your property.

2. Focus On Amenities

By enhancing existing amenities or adding new ones, you can attract and retain tenants, increase property value, and justify higher rents in the future.

Essential features such as a fully equipped fitness center cater to health-conscious residents, while community gardens promote relaxation and foster a sense of community. Additionally, pet parks address the needs of pet owners, and secure bike storage appeals to environmentally conscious or fitness-oriented individuals.

The quality of amenities alone can make or break a resident’s experience. For example, despite the growing reliance on smart technology devices within building environments, recent surveys show that only one percent of renters are satisfied with their WiFi service.

Think about it—there’s nothing like slow or unreliable WiFi to lose tenants and reduce your bottom line. Conversely, by adding high-quality, high-speed managed WiFi, you’re more likely to attract more tenants while meeting today’s high expectations of property staff and residents.

3. Make Use of Technology

Installing smart home features can enhance tenant convenience and safety, adding value to your property without raising rents. Things as simple as smart locks with keyless entry systems make tenants’ lives easier while increasing security. Adding package lockers is another way to add security and privacy to your property.

The smart home market is expected to grow significantly, with a projected market size of $135.3 billion by 2025. Investing in smart technology can make your property more attractive not just to tech-savvy tenants but to the average person.

4. Find Ways To Save On Costs

Adopting strategic cost-saving measures is one way to boost Net Operating Income without putting extra financial pressure on tenants.

Here are some of our favorites:

• Negotiate rates with vendors
• Implement advanced property management software to streamline operations
• Prevent breakdowns and extend the life of assets with a preventive maintenance program and predictive maintenance tools
• Switch to energy-saving lighting and HVAC and use smart meters for lower utility costs

These strategies will help reduce expenses as well as enhance the overall efficiency and value of your property (not to mention tenant satisfaction), contributing positively to NOI.

5. Add New Revenue Streams Through Managed Internet Services

Managed WiFi is quickly becoming essential for property managers looking to increase their revenues in the multifamily sector.

There are three options available to apartments and other multifamily buildings when it comes to providing internet to residents:

• Self-setup: This is when the residents are responsible for setting up their own internet.
• Cable company partnership: This is when the property partners with a cable company to furnish the entire complex with internet services. The cable company retains ownership of the wiring infrastructure and provides complimentary installation services. Residents who choose to subscribe to the WiFi service will be invoiced directly by the cable company. Additionally, the property owner may benefit from a share of the revenue derived from WiFi subscriptions.
• Managed Service Provider (MSP): This involves partnering with a managed service provider to handle your property’s internet solutions. This option offers higher revenue potential, as the MSP sells directly to the owner, providing support, service, and equipment at a low monthly cost. For example, the MSP may charge $10 per room, while the owner can make $40 per unit over a five-year contract. Despite assuming liability, owners favor this option due to its potential for significantly higher profits, estimated at $600-$700K, compared to the $150K generated by alternative options.

Ways to Generate Income with Managed Service WiFi

• Charge residents a monthly fee. This can be included in an amenity fee or as part of the monthly rent.
• Provide options for upgraded WiFi services, such as greater speeds at an additional cost.
• Feature advertisements from local businesses on the WiFi sign-in page or within the network’s portal.
• Collect data about how the WiFi is used and offer these valuable insights to companies or advertisers in exchange for a fee.

To learn more about managed WiFi, read our guide.

6. Capitalize on Tenant Retention Programs

Implementing tenant retention programs can reduce turnover costs and vacancy rates, ultimately boosting NOI by maintaining stable occupancy levels and consistent cash flow.

Consider programs like referral bonuses for current tenants who refer new tenants, loyalty rewards for long-term residents with benefits like discounted rent or free amenities, and renewal incentives offering rent discounts or upgraded amenities for those who renew their leases.

 

INCREASE NOI WITH MANAGED SERVICE WIFI

Increasing NOI for multifamily properties is all about cost-saving measures, value-adding initiatives, and exploring new revenue streams. By taking the time to make energy efficiency upgrades, upgrade amenities and technology, reduce costs, add new revenue streams through managed WiFi services, and focus on tenant retention, you can significantly boost NOI while providing a superior resident experience.

And remember, the key to success lies in understanding your property’s unique needs and opportunities and continually looking for ways to add value without burdening tenants with higher rent.

Ready to elevate your property’s value and increase NOI? Contact MDU Internet Services today and experience the difference that leading-edge WiFi services can make for your tenants as well as your financial performance.

Why seeking out connectivity experts to oversee daily network needs simultaneously translates into higher-quality service, enhanced efficiency, and sustainable revenue growth.

In the modern interconnected world, WiFi service availability and quality has undoubtedly become as essential an amenity as electricity or running water. Regardless of whether a building serves as a multi-family apartment complex, senior living home, or even student housing, the presence of a robust online connection is crucial to residents of all kinds.

With property reputations and revenue at stake, and especially as building environments continue to adopt more smart technology-based devices, high-performance WiFi has become an absolute must. Yet according to recent surveys, only one percent of renters state that they have the uninterrupted WiFi service they desire.

As a result, managed WiFi services are now highly valued, offering property staff and occupants an online experience that reliably and consistently meets users’ expectations.

But what is managed WiFi? A fairly recent service offering, managed WiFi is only just beginning to make waves within multifamily and multi-purpose building environments. Read on to discover why more businesses are finding themselves driven towards adopting this service in order to keep pace with competition while preserving both reputations and revenues.

 

What Is Managed WiFi?

 Managed WiFi is simply the term used for when a building’s network is monitored and overseen by a third-party internet and network services provider. Designed as a cloud-based network that’s accessible with the use of multiple access points, managed WiFi allows building owners and their staff to offload both the responsibility and daily tasks of network management to an off-site team of dedicated professionals.

Far more than simply overseeing routine maintenance tasks, experienced third-party specialists are able to take over the reins for virtually every aspect of managing a network — from monitoring and preventing cyber-attacks to providing troubleshooting assistance as well as recommendations on future hardware upgrade needs.

By partnering with a managed WiFi provider, businesses can further delegate online security issues, troubleshooting, routine maintenance, and upgrade needs to more experienced specialists.

While freeing a building’s employees to focus on other more immediate tasks, managed WiFi represents a more adaptive, responsive, and effective approach to network management that ultimately leads to superior results and substantial long-term cost savings.

 

Managed Vs. Unmanaged WiFi

What is the difference between managed and unmanaged WiFi? In contrast to managed WiFi solutions, unmanaged WiFi is essentially the same type of WiFi service that consumers most often utilize for their homes. While a property may pay a fee to gain access to an internet service, taking an unmanaged approach to WiFi means that the business itself is responsible for monitoring performance, bandwidth consumption needs, and managing cyber security risks.

While unmanaged WiFi may at first appear to be the more affordable choice, in reality, the best decision on which type of service to adopt often comes down to business-specific needs and priorities.

Unmanaged WiFi may be more suitable for a small building that only needs to support a limited number of devices or users. For such locations, networks consisting of a single modem and/or router are often sufficient enough to provide effective connectivity — as is usually the case within consumer homes, which typically feature a similar setup.

Yet for most multifamily and multi-dwelling properties, the explosive growth of IoT-based devices combined with ever-increasing numbers of network users seeking a high-speed connection means that unmanaged WiFi may no longer be the most effective or affordable option.

 

Benefits of Managed WiFi

Although some businesses may have previously heard of managed WiFi, the term is still fairly new to property managers and their staff. Yet as a dedicated service able to supervise and control a property’s network in real-time over the cloud, third-party managed WiFi solutions can seamlessly provide a wide range of unique advantages:

 

24/7 Performance and Bandwidth Monitoring

Perhaps the most essential benefit of managed WiFi is gaining continuous access to expert network technicians who maintain a constant eye on any sudden dips in service quality. Unlike onsite employees who may become distracted by other responsibilities, managed WiFi staff are always solely focused on identifying any performance issues that require immediate attention.

Examples of issues that may come up include a malfunctioning access point or higher-than-usual online traffic, which may result in the need to temporarily increase bandwidth. Managed WiFi personnel can often identify and address such issues before reduction in network service quality is even noticed by end-users.

Superior Online Security and Data Protection

As buildings adopt more IoT-based devices and services, cybersecurity issues can become a greater and more prevalent risk. Yet rather than avoiding such technologies for fear of experiencing a potential breach, properties can instead minimize their exposure by partnering with a trusted managed WiFi provider able to offer both continuous and real-time cyber security protection.

In addition to overseeing the installation of the latest firewalls, virus scanners, and internet security protocols, managed WiFi technicians are also able to consistently monitor for any suspicious activity. Should a cyberattack be identified, they’ll not only alert a building’s on-site employees to the issue but can also actively counter and isolate such attacks in order to minimize potential damage and the theft of sensitive data.

Enhanced Network and Operations Scalability

Regardless of building type or size, the inevitable evolution of technology and end-user needs means that a property will ultimately have to invest in making network upgrades in order to keep pace with the competition and continue meeting modern expectations.

With a managed WiFi service, building owners and their staff can offload yet another important task while gaining the confidence that any future upgrade needs are always fully anticipated ahead of time. Whether scaling network coverage to include a new area or ensuring sufficient bandwidth for a new end-user service such as mobile key technology, such a strategy can minimize potential costs and disruptions while always delivering expected results.

24/7 End-User Support Services

In addition to providing building staff with access to expert assistance in the event of a network performance issue, managed WiFi services can even offer instant support for any number of troubleshooting requests that may surface throughout the course of a day.

Having troubleshooting support provided by a managed WiFi team prevents the frequent need to pull on-site staff from their pressing responsibilities, ensuring that any issue is quickly identified and fixed without disrupting business operations. This can include assisting users with WiFi login difficulties, overcoming email server compatibility issues, or setting up a VPN network to name a few examples.

Tiered WiFi Service Options

If one thing can be certain about modern online connectivity, it’s that a one-size-fits-all approach doesn’t work. Some users may only require minimal bandwidth to read and send emails, while others may be in need of significantly higher network resources in order to play video games, host video meetings, download and share files, or manage multiple cloud-based systems.

While supplying a standard WiFi connection for universal use, a managed WiFi services provider can also design a network that can provide several tiered bandwidth or connection speed options. This not only preserves online resources and promotes fair use, but it also provides buildings with a new source of revenue while increasing experience satisfaction rates.

 

Gain the Edge with Managed WiFi for Your Property

 With so many unique advantages to offer and the potential to provide substantial cost savings and increased revenue over the long term, it’s hardly surprising that more apartments and facilities are making the switch to managed WiFi. In addition to the increased revenue potential, Managed WiFi helps increase the efficiency of operations and reduce staff workloads.

And as cloud-based technologies and smart devices continue to become more prevalent in today’s society and multi-purpose buildings, the need to effectively manage an increasingly complex network environment continues to become an even more urgent business priority.

As a leading and trusted network solutions provider for more than two decades, MDU Internet Services continues to represent the industry’s highest standard in managed WiFi capabilities. With proven results for countless multi-dwelling unit properties across the U.S., MDU Internet Services has both the experience and technology necessary to guarantee the success of your WiFi service strategy.

Ready to provide your property with a head start on the competition in enhancing your network experience? Contact MDU Internet Services today and discover firsthand what it means to set the standard for superior WiFi network performance and reliability for the twenty-first century.

The term ‘multiple dwelling unit’ refers to a residential building that contains more than one dwelling unit. These types of buildings can include apartments, condos, townhomes, private single-family residential developments, mobile home parks, and more. MDUs may also include senior living facilities, student housing, military housing, and similar structures. They are generally built to provide housing for a large number of people in a relatively small area, and they typically have many common areas that residents can use, like pools, gyms, and laundry facilities.

While MDUs can be found in cities all over the world, they are most commonly found in urban areas where space is limited. This is because MDUs allow for a higher density of housing, which is ideal for cities where land is expensive and space is at a premium. MDUs are also popular because they can provide residents with a sense of community that they may not find in other types of housing.

However, when it comes to Internet access, MDUs can pose some challenges. Because there are multiple homes near each other, installing and maintaining Internet service can be difficult. This is why it’s important to work with an experienced Internet provider that specializes in serving MDUs.

In today’s society, we are all part of the on-demand culture. With so much information available, high-speed internet has never been more needed than it currently stands at this moment! We demand quick access to everything from work emails to social media sites, all while maintaining our daily life obligations without interruption or delay due to slow speeds with old technology.

There’s no surprise why property managers are on their toes for dependable connections for their tenants, given everyday demands for constant connections to live normal lives. Wi-Fi for MDU’s has become a hot topic.

Property Managers want fast, quality, internet to make sure their tenants are satisfied and coming back – but providing this service isn’t always easy without connectivity issues! The demand for a solid internet connection from larger clusters of housing is what has led to the development of Multiple Dwelling Unit Wi-Fi!

There have been numerous attempts to discover the ideal answer, but the finest solution to date remains Managed Service Wi-Fi for Multi-Dwelling Units (MDU Wi-Fi). MDU Wi-Fi fully hands over management of your internet service to professionals rather than building staff and property managers who may do a subpar job at it.

Managed MDU Wi-Fi is a strategy for building owners to earn money through renters who purchase their Internet service directly from the property owner.

How MDU Wi-Fi Works

Wi-Fi networks are utilized by many MDU operators to support business applications and services onsite. The network infrastructure is critical to the business and must be secure, reliable, and always available.

While many operators have implemented wireless networks, they often do not have the in-house expertise to manage and support them effectively. This can lead to service outages and slowdowns, as well as increased costs.

They might, however, expand those networks to provide dependable and high-performance wireless Internet access to all of their MDU dwellers with managed Wi-Fi. They can then provide a highly desired amenity to entice tenants and boost revenues, as well as distinguish their properties from the competition. This is precisely what MDU Wi-Fi aims to accomplish.

With MDU Internet as an amenity, there is only one pre-installed community-wide MDU network that delivers secure, individual access to all residents in the community or MDU. MDU Wi-Fi is a form of Wi-Fi that’s designed for large housing units. It’s similar to Wi-Fi at home in many ways; however, it is on a grand scale.

In theory, they are very comparable to one another. You connect your device to the network and thence to the internet by means of the MDU Wi-Fi network. But this Wi-Fi can also be utilized for household utilities such as smart appliances.

MDU networks are perfect for apartment complexes, condos, Senior Living and other types of MDU properties because they offer great coverage in multiple-unit structures. It’s easy to set up and use, too! Multiple people can join the network with MDU internet. While it may appear difficult, MDU Wi-Fi networks are really simple to use.

When choosing an internet service for your community, it’s important to consider the architectural distinctions between the various MDU Wi-Fi services. For the best resident experience and network security reasons, MDUs should select a Managed Wi-Fi provider that covers all apartment units in their building. It’s both more secure and less expensive in the long run for multi-dwelling units.

Why You Should Set Up Internet for Your Apartment Building?

Internet is a fundamental need for most people in the modern world, and providing Internet access in every unit can be beneficial. Just like water and power, it is now considered a part of standard utilities in most households today.

In addition to being able to provide your tenants with something they crave so much; you might even see an increase in revenue! No doubt offering internet access in every unit and throughout your apartment complex opens up a wealth of opportunities for you as the owner or manager.

Installing Wi-Fi in an apartment complex is an easy task for specialists and, in most cases, can be completed in no time. You know that your residents will want to use the internet, so this upgrade makes sense for you too.

Additional Revenue

You can charge more for your rent if you offer Wi-Fi. You’ll be providing tenants with an amenity they will use daily and need, so it’s not just about offering them something cool like a pool or a gym. This time, it is something useful that they will always need!

Ensuring your complex or property is as modern as desired isn’t limited to keeping up with the newest fads. It also includes making MDU Wi-Fi available. With it, you may charge more rent while still providing a great deal of value to your tenants. Instead of allowing the ISP to recoup its costs through your renters’ internet access, provide managed internet service.

Stand Out

Although Internet and Wi-Fi are important aspects of tenants’ daily routines, there aren’t many apartment complexes or MDUs that provide their tenants with Wi-Fi or Internet service directly. When it comes to apartments, buyers look for value-added features to be a crucial aspect in their selection. A good example of such is Managed internet services.

Imagine the delight of your luxury apartment complex’s tenants when they discover that you offer Wi-Fi in your apartment. They’re used to modern amenities such as these, which makes it all seem like an exclusive club for them – one where their needs come first!

Another set of tenants who will benefit from a stable and robust MDU Wi-Fi connection are those that work from home! With the pandemic, many people have been forced, or now choose, to work from home, and a good Wi-Fi connection is essential for those that want to be productive.

And in most cases, the bandwidth, stability and speed of a Managed Wi-Fi network far exceeds that of your local ISP or cable company.

Benefits of MDU Wi-Fi for Residents

Managed Wi-Fi enables multi-dwelling unit owners and operators to manage and monitor their subscribers’ home Wi-Fi networks. Through a reliable MDU Wi-Fi network provider, operators can remotely configure, update and troubleshoot home Wi-Fi networks from a central location. This not only saves time and money but also reduces the need for on-site technician visits. MDU owners enjoy several advantages as a result of utilizing Wi-Fi, they include:

Reduced Operational Costs

Managed Wi-Fi can help owners and operators save money by reducing the costs of certain building functions, such as HVAC and lighting. By using a single network to connect all devices in a building, managed Wi-Fi can also improve communication and collaboration between employees. With managed Wi-Fi, MDUs that use smart applications to automate their network settings will see an improvement in energy efficiency while also cutting down on expenses!

All MDUs face the same concern: high energy usage. Voice assistant speakers, sensors in smart lighting, leak detectors in water heaters, and smart thermostats can now aid in lowering operational expenses, thanks to managed MDU Wi-Fi network.

It Reduces the Need for Cables

This Wi-Fi offers an easy and cost-effective solution to provide high-speed Internet access in buildings. MDU installations avoid the need for individual tenants or building owners to deal with cable management. As well as eliminate a potential vendor conflict by making it one provider that serves all areas of your home.

It is Safer

Residents who operate their Wi-Fi are vulnerable to cyberattacks. Hackers might also enter your management network and steal sensitive information or cause building systems to malfunction at any time. On the other hand, Reliable MDU Wi-Fi suppliers work with gateways like Fusion, which offers advanced threat protection against a wide range of network assaults with unprecedented speed.

Convenience

When you provide Wi-Fi and internet access to your tenants, it’s one less thing for them to worry about on moving day. It’s also a more predictable monthly cost when you offer internet access as part of the rent. In addition, a stable, predictable price is a pleasant bonus for residents who are frustrated with cable companies’ frequent price hikes.

Apart from a regular bill, providing internet to apartments allows your tenants to have access to streaming, fast downloads, and other services no matter where they are on the premises.

The Implementation Process and Results

To get started with MDU Wi-Fi at your apartment complex, you’ll need hardware, a managed Wi-Fi service provider, and network support. ISPs provide you with the bandwidth you need to meet your community’s streaming demand, and an MDU Wi-Fi provider can give you the equipment and service you need to get up and running. If you know what you need and what to anticipate, getting started and set up will be much easier. Here are a few things you should know before setting up:

Choosing MDU Wi-Fi Services

 

MDU technical services companies are the best option for installing Wi-Fi at your apartment complex. These professionals can install proper cabling and set up networks throughout an entire property, providing 24/7 monitoring and tenant support along with it! Consider the following factors before selecting an MDU technical firm:

Quick Response

If you’re experiencing any kind of Wi-Fi issue, the last thing that anyone needs is downtime. Whether it be for work or just everyday use, your residents won’t thank YOU if they’re stuck without connectivity. This is because there’s nothing more frustrating than not being able to do anything at all when all their devices have lost internet access!

Your MDU Wi-Fi Service provider should offer 24×7 network monitoring services so you know right away if some piece of equipment has gone down. And having tenant support services available at any time to assist your tenants will reduce down time and relieve the Property Manager of some of their workload.

Dependability

When you choose the right service provider, your network will continue to function smoothly because it will be maintained with regular maintenance if that is provided.

The truth is, even if your network is running smoothly now, there are always things that can go wrong. This is why a good provider stays up-to-date on the most recent software, security patches, and other key assistance to keep your system working smoothly.

Safety

MDU Wi-Fi network will be utilized by residents for various purposes including streaming, downloading, working remotely, and other online transactions. It is of utmost importance to protect their data when using these internet services which can be exploited by hackers to access personal information like social security numbers or financial records.

This is why your managed service provider should be able to assist you in preventing data theft and any potential problems by providing the proper equipment for security. Proactive monitoring of dangerous threats or network security by the property’s gateway, is a necessary service that the firm must provide at all times.

Experience

If you need help with your MDU internet, it would be best to find a company that specializes in managed Wi-Fi services. This is the only way you can be confident that you will benefit from a team of experienced specialists. In addition, it will ensure the job is done right and all of your tenants are satisfied!

MDU internet can reach apartment complexes, senior living facilities, student housing, military housing, and other types of communities. Because of this, you’ll want to deal with a service provider that understands your demands and create personalized internet solutions.

Also, verify that they have the skills to install a network that works for your property. Some service providers may not have the workforce to work on large complexes with hundreds of apartments. In conclusion, make sure you’re getting the best match for your requirements.

Choose MDU Internet Services

MDU Internet Services, a solution provided by Hotel Internet Services, offers a complete suite of high-speed internet solutions for the residential and commercial markets. Whether you are looking to upgrade your current service or install a new internet system in an apartment complex, we can help! We offer Wi-Fi Internet connection for your virtual local area network with customer service, maintenance, and monitoring for apartment complexes, MDUs, Senior Living, Military Housing, Student housing, and more.

Why we are different?

• We offer the perfect solution for every large commercial application that requires constant Internet connectivity. We make use of a variety of networks and cutting-edge Wi-Fi technology to provide a fast and secure property-wide Wi-Fi solution.
• Our Network enables you to utilize IOT technology on your property.
• Tenant and Management Technical and Network Support

Wi-Fi is the future of apartment living, and we’re here for you. Request a free quote by contacting us right away!