Did you know that around 50 percent of all apartment hunters would consider paying extra to have access to ultra-high-speed internet provided by fiber, according to a 2019 study conducted by BroadbandNow? Residential fiber internet isn’t just for single-family homes. The benefits of this future-ready connectivity greatly enhance the Wi-Fi experience when available in apartment complexes—a type of multi-dwelling unit (MDU).
As time goes on, the need for faster and more dependable speeds to handle increasing bandwidth requirements continues to grow. Fiber internet has the capability to meet those higher expectations, unlike DSL and cable options. Tenants’ needs should always remain a top priority for ownership, so providing each unit with internet that is capable of keeping up with various lifestyles is essential for profitability and maintaining target occupancy rates.
Think about all the reasons why a tenant may use internet throughout the day. Each of the following functions perform best on strong fiber internet with capable bandwidth.
Partnering with a fiber internet provider to give residents reliable service takes that property steps higher than competitors who do not offer the same innovative technology. Let’s explore five key benefits to offering future-ready internet that goes beyond the capabilities of cable and other outdated services.
Ultra-Fast Speeds and Reliability
Fiber provides faster and more stable speeds than other connections. This reliability is crucial for tenants working from home or streaming high-quality content.
Future-Proofing the Property
Fiber infrastructure is prepared for future demands, making the property more attractive in the long-term. Additionally, fiber can support future technology needs without major upgrades.
Increased Property Value and Marketability
Similar to the 3-5% real estate premium of single-family homes with fiber internet, multifamily rental properties can attract more tenants. Fiber internet can be a unique selling point that differentiates a complex from its competitors.
Higher Tenant Satisfaction and Retention
High-performance internet improves tenant satisfaction, reducing turnover rates. Tenant satisfaction can increase the likelihood of positive reviews and referrals.
Seamless Support and Maintenance
Fiber internet providers often offer dedicated support for property managers and residents, minimizing downtime and stress. Proactive maintenance is another benefit of working with a provider, which can positively impact a resident’s satisfaction with their living space.
Important decisions for new build communities—and pivotal changes for existing ones—require thoughtful deliberation around potential issues. Following decades of cable internet serving as the primary provider for MDUs in many regions, it’s understandable that switching to newer technology, like fiber internet, brings concerns. For example, fiber installation is a complex process. While construction at an apartment complex doesn’t perfectly mirror the process executed in single-family neighborhoods, the concept and attention to care are very similar.
Additionally, cost and long-term return-on-investment (ROI) are fair concerns with any new project on this scale. Cost will of course vary by location, provider, timing, and other factors, but, as with many next-level amenities, fiber internet is worth the investment. Depending on the situation, some partnerships may even offer bulk billing agreements, which allow the MDU to provide internet for a lower price to residents. While upfront costs are high, the ROI is worthwhile. The boost in property value, higher tenant retention, and growing demand for fiber internet often create new opportunities for revenue growth and long-term stability.
As a property owner or manager, selecting the right fiber provider for your apartment complex or other MDU is a critical decision with lasting impacts. It influences tenant satisfaction, operational performance, property appeal, revenue potential, network reliability, and overall brand image. If more than one provider is serving an area, choose the partner that offers flexible, scalable solutions, while also holding transparency and customer experience to a high standard.
With more and more options becoming available to consumers, especially in fast-growing cities and suburbs, it’s essential to stay competitive and meet tenant expectations. Partnering with a strong fiber internet provider could be just what you need to take your property to the next level.
For property managers interested in learning more about introducing fiber internet to current or future residents, visit Ripple Fiber’s Contact page.