As a property owner, it’s clear that providing seamless connectivity to your residents is essential, enabling you to stand out from the competition by offering an amenity that is often more in demand than basic utilities. However, the logistics of rolling out and managing a bulk technology program at the property level can be overwhelming: How can you manage and support the program using in-house resources without overwhelming on-site staff or leaving residents to fend for themselves?
This is something that Michelle Murphy, senior asset manager at GoldOller Real Estate Investments, understands firsthand. “I know from rolling out past programs, it’s not easy,” she says.
For Murphy, providing a seamless resident onboarding experience is key to a successful deployment, especially with a bulk internet program. When something goes awry, resident issues often fall to the property staff, creating excessive stress for on-site teams who already are juggling other work. On-site teams often don’t have the time or expertise to manage an end-to-end bulk tech program.
Kim Crouch, director of asset management at Great Lakes Capital, has felt the strain placed on property staff when rolling out past bulk tech programs as well. “We can’t have the site team not leasing apartments because they are trying to manage technology or diffuse unhappy residents,” she says.
A successful bulk technology program must first address how to solve these issues. For both Murphy and Crouch, this need resulted in partnering with a third party to manage the program rollout and support. By leveraging this partnership, site teams no longer have to intercept resident questions or deal with technical issues, and strains are not placed on in-house resources to manage bulk negotiations, rollout, or support with service providers. “We pretty much don’t lift a finger,” says Murphy.
With a third-party partner to oversee end-to-end management and support, bulk programs can also generate significant revenue. In Crouch’s experience, a bulk internet program at a 300-unit property can drive an average of anywhere from $1.5 million to $2.5 million in value for the property. “It’s a good, solid result—and it’s profitable,” she says.
But, for both Murphy and Crouch, it all comes back to creating and maintaining positive, value-add experiences for their residents. “We are adding an amenity where the residents are happy because they’re saving money on their internet costs,” Murphy says. “It’s a win-win for everyone.”
Learn more about how a third-party technology partner, like Onboard, can help you create, support, and manage your property’s resident tech programs.
