High-speed internet can boost your building’s bottom line—and your bank account, too
The internet plays a critical role in everyday life. It has completely revolutionized how we work, how we play and how we communicate. Given how central it is to our lives, the enormous impact it has on the world of commercial real estate should come as no surprise. High-speed internet is the second-most important feature renters look for when they’re considering a new home, after only air conditioning. According to a recent NMHC report, 93% of renters want high-speed internet access, and 63% say they’d refuse to rent an apartment without it.
A lack of high-speed internet can hurt your profits
Even if they’re in the minority who would consider sacrificing high-speed internet, both renters and buyers will want a discount to compensate for it. An FTTH survey showed renters would demand an average of $80 off their monthly rent and buyers would expect over $8600 off their purchase price if high-speed internet wasn’t available.
The good news is that getting better internet isn’t just about staying competitive. Exceptional, gigabit-capable internet has been proven to increase a building’s profitability. Bringing fiber-speed internet to a building increases rental value by 8%, which leads to an 11% net income gain. For owners, the change is even starker: gigabit-ready internet can instantly add 3% to an apartment’s value — the equivalent of installing a new fireplace or a half-bath.
Installing fiber-speed internet from cable companies usually isn’t easy. Or cheap.
Unfortunately, bringing fiber-speed internet to a building can be a time-consuming ordeal. Installing fiber involves tearing out walls and running cable. And if your building is too far from the existing fiber network, the costs for the cable company to extend it can be in the hundreds of thousands of dollars—costs they won’t always cover. It’s not surprising that nearly half of all respondents in a recent survey said they were dissatisfied with their current internet service provider.
There are new options to get fiber speeds, without the pains and costs of installing fiber
But you actually don’t need to deal with the common challenges to get fiber speeds. New, innovative internet providers like Starry use cutting-edge wireless technology to make it easy to connect your building with gigabit-ready internet. They designed their lightweight rooftop receiver to be installed easily, and their flexible solutions allow them to use existing wiring, so there are no additional infrastructure requirements for you and no disruption for your residents. And it all comes at no cost to you.
Starry puts up to $15,000 in your pocket every year
In addition to Starry’s gigabit-ready internet making your building more appealing and, in turn, more profitable, they will pay you up to $15,000 every year. You can learn more about this special offer by visiting their website. Terms apply.
High-speed internet: a simple addition with huge results
High-speed internet is becoming less of a “nice to have,” and more of a necessary feature that holds real weight—and dollars—when it comes to where a potential tenant decides to live. With wireless broadband providers like Starry, adding high-speed internet to your building is one of the easiest and most inexpensive ways to add revenue to your building’s bottom line and satisfaction to your current and future tenants’ lives.
Starry is a radical, new internet service – made for the future and beamed wirelessly through the air. By using advanced millimeter wave technology they’re able to leapfrog outdated internet infrastructure and deliver brilliantly fast, gigabit-capable internet, at a fraction of the cost. For building owners and managers, this means hassle-free setup at zero cost to the property. For residents, it’s simply a faster, better way to get online. That’s what they call Happy Interneting. And it’s live in Boston.
Give your residents internet they’ll brag about. Contact Starry today.Starry >>