Turnkey Connectivity Pitched as Key Amenity
A whitepaper from Parks Associates and Xfinity Communities is promoting turnkey connectivity as a critical amenity for multifamily properties. The research details how providing a seamless, tech-forward move-in experience can boost resident retention and a property's appeal. This positions high-quality, pre-installed internet as a competitive differentiator beyond traditional amenities.
- According to the research, 41% of renters expect internet service to be active from the moment they move in. This demand for instant-on connectivity is a key driver behind the push for turnkey solutions. - Competitors are already leveraging connectivity as a key amenity; for instance, NEMA Chicago offers "ultrafast gigabit-capable internet" and smart-home-ready residences, including Lutron lighting and ecobee thermostats. - Xfinity's "WiFi Ready" program addresses this by pre-installing wireless modems in units, allowing new residents to activate their service immediately upon move-in without a technician visit. - The whitepaper notes that residents who have previously experienced bulk or managed internet services are significantly more likely to consider it "highly important" in their next move. - Beyond just internet access, many new luxury properties in Chicago are integrating smart home features. Millie on Michigan, for example, provides residents with smart home technology in their apartments. - The report highlights that dissatisfaction with a property's technology can severely impact resident sentiment, with a resident's Net Promoter Score (NPS) dropping to an average of -39 if they are unhappy with the smart tech provided. - Managed Wi-Fi not only serves as a resident amenity but also provides the necessary infrastructure for smart building technologies that improve operational efficiency, such as smart lighting and security systems. - While many luxury buildings in the Gold Coast area, like The Deco, list "high-speed internet access" as an amenity, the trend is moving towards more specific and managed offerings that guarantee a seamless experience.
