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Bewitching Residents with Technology this Halloween

Written by Posted On Thursday, 29 October 2015 11:00

The availability of home Internet, TV and voice services has been a key selling point for many multi-dwelling unit (MDU) property managers, especially when their buildings are wired for the fastest possible speeds. A 2014 survey conducted by market research firm RVA highlighted how broadband is the most-desired amenity by prospective residents, with Internet speed specifically being a deal-breaker for younger residents.

Despite the popularity of these services with subscribers, the same survey showed that only 1-in-4 residents knew about them and, more troubling, that many MDU properties leave money on the table by not offering the services at all.

As Halloween approaches, here are four ways property managers can go beyond the traditional trick-or-treat activities to really offer something of value to their residents:

  • Tell them about it– All residents, but particularly younger generations, are hungry for these services, but they can’t buy them if they don’t know about them. Ensure that your building bulletins and email newsletters alert your residents of the options available to them when it comes to their technology services, and brief your staff so they can answer basic questions about your offerings as well. Or, to have some fun, ask your provider to host a costume party and use that as an opportunity to speak with residents about the services available to them.
  • Invest in new services – Technology moves quickly. And, in a world that is consumed with video and mobility, the thought of not having access to the fastest speeds on the market sends shivers down nearly every resident’s spine. The aforementioned 2014 RVA survey showed that MDU properties earn on average $972 more annual rental revenue and $209 more revenue from lower vacancy rates when they have fiber-to-the-home (FTTH) services. This is money that’s being left on the table for your competitors to grab if you don’t do anything about it.
  • Beat the competition – Less than 1/3 of new MDU properties that began construction in 2013 will be built with FTTH. This presents itself as an opportunity for property managers to differentiate from the competition and attract more affluent residents. Use these services to set the bar even higher against your competition and safeguard your property from turning into a ghost town – both now and in the future.
  • Improve property values and resident satisfaction– Studies show that broadband services boost property values and that there is a direct correlation between residents’ satisfaction with their Internet service and their home. Keep your existing residents happy, attract new ones and avoid being haunted by regret in the long run by offering services that appeal to both sides.

This Halloween, treat your residents to something less fattening than candy corn and popcorn balls. Give them better technology services to ensure that their holiday horror movies can be accessed with On Demand and that their video chats with their costume-clad grandchildren remain uninterrupted. You’ll be happy you did – and so will they.

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Adrian Adriano

Adriano Adriano is the VP of Strategic Initiatives for Comcast's XFINITY Communities business unit.  He was previously the VP of Multicultural Marketing at Comcast, and before then served in various leadership roles with both T-Mobile and AT&T Mobility.

www.xfinity.com/xfinitycommunities
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