Renting or selling? Enhance your property value with fiber internet. (Part 2)

By Alice LaPlante

Fiber-optic broadband is a boon for community property homeowners and builders. In Part 1 we discuss how property value and fiber demands of consumers are on the rise. The expansion of fiber network infrastructure in the U.S. is fueled by fiber’s future-proof capabilities, significant reliability, and durability.

What about landlords, property managers, and rental agents? Can they capitalize on fiber internet? The answer: A big affirmative. And even though the rental market has softened considerably in recent months. According to Buildium’s 2024 Property Management Industry Report, property managers still plan to increase rental revenues in the short term, despite a declining pool of qualified renters and an increasing supply of vacant properties.

Here are five ways they hope to do it:

  1. 62% say by increasing rents/resident paid fees
  2. 48% say by leveraging technology to drive efficiency
  3. 40% say by expanding service offerings
  4. 39% say by making value-add updates to properties
  5. 38% say by increasing rates/client-paid fees

Investing in fiber-optic high-speed broadband plays a part in each of these rent-boosting tactics says Dan O’Connell, vice president of mass markets for Quantum Fiber.

A 2023 study on Multifamily Living Trends Report by Allegion, found residents of multifamily communities want free WiFi as the number one amenity over affordability and proximity to work and school. And 45 percent said free WiFi was a must-have amenity at their future residency.

This means that installing fiber is one of the easiest—and most cost-effective—ways for property owners, HOAs, and management firms to add value to homes and apartments, both for sale and for rent.

The many ways fiber adds value to multifamily community properties

Consumers who’ve tried other communications technologies opt for fiber internet as it becomes available in their areas. Of the 17% of consumers who switched internet providers over the past 24 months, fiber had a net gain of 15 market share points, whereas cable had a loss of 14 share points, as found by the FBA’s report, Fiber is Preferred by Nearly Two-Thirds of U.S. Consumers According to New Fiber Broadband Association Research.

Here are some of the reasons why fiber-connected dwellings command a premium:

  • Functionality. A home’s communications infrastructure must support residents’ increasing digital requirements—whether due to work, leisure, healthcare, education, or other lifestyle considerations. Fiber’s high symmetrical speeds enable multiple household users to stream high-definition video, download and upload large files quickly, and easily work and play from their homes.
  • Reliability. Fiber internet is reliable. That’s because fiber is buried underground, protected from damage against weather and other surface risks. Further, Quantum Fiber is built on a 99.9% reliable, based on network uptime or availability.
  • Low latency. Latency is how long it takes for a packet of data to travel from one point to another. Fiber internet has very low latency. This results in little lag when uploading large files, streaming video, or playing online games.
  • Sustainability. The Fiber Broadband Association estimates that the performance of fiber-optic internet makes it possible for more people to work from home, resulting in a carbon-footprint savings equivalent to taking 11 million cars off the road every year. With approximately 35% of Americans being offered the opportunity to work remotely as of 2024, fast, secure, and reliable internet has become a must-have home amenity.
  • Future-proofed. Currently, what fiber can do for consumers is limited based on today’s technology of TVs, computers, laptops, and smart-connected devices. But as technology advances, fiber networks will be ready and capable of carrying more data at even faster speeds.

Fiber is a gift that keeps on giving at rental communities. Read Part 1.

Check out these related articles:   

· Why choose fiber internet for retrofitting commercial real-estate into residence

· Learn how WiFi 7 is a leap into next-gen community living.

Fiber is a gift that keeps on giving, whether owning property in a multifamily community or a rental property. For more information about what Quantum Fiber can do for sales and rental values in your community, contact a Quantum Fiber Connected Communities expert to learn about connectivity solutions tailored to your multifamily community.

Content Disclaimer - All content is for informational purposes only, may require user’s additional research, and is provided “as is” without any warranty, condition of any kind (express or implied), or guarantee of outcome or results. Use of this content is at user’s own risk. All third-party company and product or service names referenced in this article are for identification purposes only and do not imply endorsement or affiliation with Quantum Fiber. If Quantum Fiber products and offerings are referenced in the content, they are accurate as of the date of issue. Quantum Fiber services are not available everywhere. Quantum Fiber service usually means 100% fiber-optic network to your location but, in limited circumstances, Quantum Fiber may need to deploy alternative technologies coupled with a non-fiber connection from a certain point (usually the curb) to your location in order to provide the advertised download speeds. ©2023 Q Fiber, LLC. All Rights Reserved. Quantum, Quantum Fiber and Quantum Fiber Internet are trademarks of Quantum Wireless LLC and used under license to Q Fiber, LLC.

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