Community WiFi Report: Only 1% of Renters Have the Internet Service They Want
31 Outubro 2023 - 9:00AM
Business Wire
Research report reveals unmet demand;
opportunities for competitive advantage, operational efficiencies
and connected communities
SmartRent, Inc. (NYSE: SMRT), the leading provider of smart home
and property operations solutions for the rental housing industry,
today announced the release of a new research report, “Community
WiFi: A Tactical Guide for the Multifamily Market.”
The third-party study, conducted by Parks Associates and
available for download, sought to better understand the current
competitive landscape and provide guidance to multifamily owners
and operators on how to best meet the demand for connectivity in
the industry. The report includes insights from 2,000 apartment
residents in the United States and 12 technology leaders in the
multifamily housing market. Highlights include the importance of
Wi-Fi service selection, renter preferences, insights from
operators and opportunities to create operational efficiencies via
Community WiFi.
“As an industry, rental housing is falling short of renters’
Wi-Fi needs and expectations, and those demands will only continue
to grow,” said SmartRent CEO Lucas Haldeman. “Renters not only need
reliable service, but the flexibility to move about their
communities without losing connectivity. A lot of people now have
flexible jobs, but their apartment communities aren’t supporting
that flexibility and catering to that lifestyle. Renters need
full-time connectivity that follows them wherever they go, and it
is up to operators to meet that demand.”
The report revealed an opportunity for communities to
differentiate themselves and create a competitive advantage through
superior connectivity. Research data revealed that only 1% of
renters have the freedom to roam their apartment communities with
uninterrupted Wi-Fi service, despite 79% sharing that they have
interest in seamless connectivity. Among market rate renters, 48%
reported a willingness to pay $79.99 a month for a gigabit Wi-Fi
service.
Furthermore, when compared to properties with traditional retail
internet, modern managed Wi-Fi offers a 26-point boost to apartment
net promoter scores (NPS) — a measure of resident satisfaction and
willingness to recommend their residential community. Communities
with modern managed Wi-Fi see a 33-point NPS improvement over
communities with legacy Wi-Fi (single access point for multiple
units).
“The Community WiFi report provides operators with actionable
data and insights to recognize renters’ Wi-Fi requirements and how
to meet those evolving demands,” said Elizabeth Parks, president
and chief marketing officer for Parks Associates. “Operators can
attract more residents, improve both staff and resident retention
and streamline operations with seamless Wi-Fi service that
encompasses an entire property. The report points not only to
operational savings but potential revenue generation, beyond what
antiquated retail and bulk Wi-Fi can offer. We are proud to partner
with SmartRent to bring this invaluable resource to the industry
and highlight the potential and current shortcomings of this
essential amenity offering.”
The report also examines:
- renter preferences, expectations and expense thresholds for
Wi-Fi;
- the competitive landscape, including the various internet and
Wi-Fi options on the market today;
- insights from operators, deployment considerations and the
implementation processes for various property types, and on-site
team and resident on-boarding;
- the revenue opportunities of operator-provided Wi-Fi service
versus third-party providers; and
- infrastructure models and ROI timeframe
“As we’re rolling technology out through our properties, from
security cameras to EV chargers, we need connectivity across the
board for systems to talk,” said the VP of technology services for
a top 10 multifamily REIT interviewed for the report. “While we’re
deploying solutions, we bring connectivity from corner to corner in
a property. It makes sense to make the network available for
residents to use and make their connectivity consistent from
in-unit through all amenity spaces, using the same network with no
need to connect to a different guest network. It’s a win-win for
both [residents and owners].”
Review the full report to learn more. For more information about
SmartRent, visit smartrent.com.
About SmartRent
Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading
provider of smart home and smart property solutions for the
multifamily industry. The company’s unmatched platform, comprised
of smart hardware and cloud-based SaaS solutions, gives operators
seamless visibility and control over real estate assets, empowering
them to simplify operations, automate workflows, benefit from
additional revenue opportunities and deliver exceptional site team
and resident experiences. SmartRent serves 15 of the top 20
multifamily owners and operators, and its solutions enable millions
of users to live smarter every day. For more information, please
visit www.smartrent.com.
About Park Associates
Parks Associates, a woman-founded and certified business, is an
internationally recognized market research and consulting company
specializing in emerging consumer technology products and services.
Founded in 1986, Parks Associates provides business intelligence
and research services through its proprietary methodologies
developed over decades, including quarterly surveys of 10,000
internet households.
The company's expertise crosses many industries: home security
and smart home, streaming video, broadband and pay-TV services,
digital media and platforms, gaming, Wi-Fi and home networks,
connected health, support, consumer electronics, home control
systems, energy management, and tech solutions for the
multi-dwelling (MDU), small-to-medium business (SMB), and
commercial building markets.
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version on businesswire.com: https://www.businesswire.com/news/home/20231031964477/en/
Amanda Chavez - Senior Director, Corporate Communications
media@smartrent.com
SmartRent (NYSE:SMRT)
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