An owner has several advantages to offer WiFi/Internet to its tenants. Depending on the number of units and the price offered to the tenants, the owner will make a monthly profit. Given that the value of the building is based on the monthly income, the value of the building will be greatly improved. So the next refinancing or the sale of the building, the owner will make a lot of money.
Internet/Tenant Benefits-3 major benefits
Value of the building/return on investment
One of the most important benefits is the value you will give to your building. If a tenant pays $45 more per month in his lease, depending on the location, the city of your building, this will give about $8.000 of value to your building. When refinancing this will give you a conservative amount of $5.000 in your pockets. So for a 6plex we talk about $30.000 in your pockets to refinance! Wifiplex.ca offers a turnkey set for a 6Plex from $1.900. Do you know of an investment that will give you such a high and fast return?
Another advantage of providing the Internet to your tenants is that you will make your building smart. You will be able to add cameras for the safety of your tenants. The population ages and several tenants want to pay more to have some security. So they will have some peace of mind, sleep better and live happily in your building.
On the tenant’s side, I suggest you approach them by asking them if they are using the Internet. In 2018, we can say that the Internet has become an essential need. Personally, I do not know anyone who does not use the Internet. Ask your tenants what Internet package they have right now. The smallest Internet packages in the recognized companies are about $46 per month plus taxes so practically $53 for the first 6 months, then they pay $59. At this price, they have a speed of 10 or 15 Mbps with a download limit of 50Gb per month. So there’s no question of listening to movies every night or doing “Facetime” every day. Those who have a larger internet package can easily pay $80 a month. Your goal is to save your tenants so that they want you to set up the WiFi/Internet as soon as possible. You will be a source of economy for them by lowering their spending!
Wifiplex will accompany you from the beginning to the end of the project, through the management of change with your tenants, how to include it in your leases to ensure you have the best return on your investment and much more. You will therefore be able to give the internet to your tenants in record time with simplicity and with the best possible return. Contact Us to start your project! We will talk about support for your WiFi solution, how to put a WiFi system in place and optimize it as well as security in our next articles.