Several people are asking us for steps to include the internet in tenant’s leases. This question seems simple, let’s just try to answer it as well.
You need to choose reliable equipment that has proven its worth. Be careful to read reviews from other buyers before you buy so you don’t get caught with equipment that you need to restart a few times a week for them to work. Wifiplex provides you with commercial-grade equipment (equipment that can be found in hospitals, shopping malls, amphitheaters) that have a proven track of signs. Read our article to learn more about the difference between our equipments and those sold in supermarkets.
In addition, your accountant or tax professional will be able to add purchase costs to your capital or transaction expenses.
Support technical to the tenants
One of the points that will keep your tenants as customers of your internet network is the quality of the technical support offered. Wifiplex offers you a qualified team that is dedicated solely to the technical support of your tenants. Think about it for a moment, if your tenants are having technical difficulties connecting their new devices to your building’s Wifi network (game console, Wi-Fi fixture, smart TV, wi-fi robot sweeper) and they don’t have any help, what’s going on happen? And problems of slowness, old computers, different game consoles or Wifi printers, etc. Is it possible that they have some frustrations and that you lose them as customers? And if you lose them as customers, who will pay for your Wifi/internet equipment that you just bought? That’s why it’s important not to overlook this in the stages of your project.
The installation Equipment
The location of Wifi equipment is important because if you don’t place it in the right places, you may have problems. If the appliances heat up because you put them at the top of a refrigerator or in a place without air circulation, the electronic equipment will release some heat and stop working. Wifi antennas must be positioned in the right places to cover the accommodations optimally. The last thing we want is for tenants to contact us because their network is too slow or because the signal is not strong enough. The wiring of the antennas is just as important so that the network wires are not too visible or within the reach of the tenants. The ideal is that the network wires powering The Wifi antennas blend into the decor of your building. Wifiplex employs specialized cable companies in Wifi equipment installations and will perform optimal installation.
Inform tenants that you are providing a new internet service
You will have to tell the tenants that you will save them every month on their internet plan. They will have more speed, with unlimited download and access to support 7 days a week. Wifiplex can also provide you with a document to help manage change with your future customers. We have written an article about this that will inform you about the benefits of subscribing to our internet service. Remember that we are here to accompany you throughout the process, before, during and after your purchase.
You will need a reliable internet provider that offers good speed and is able to resolve technical problems quickly should their service no longer work. We advise you to do business with Videotron, Bell, Cogeco or Telus directly and not internet service resellers. The reason is simple, resellers are one too many intermediaries in the equation and will take longer in case of technical trouble. Wifiplex has partnership agreements with major internet providers. We will offer you the best internet provider depending on the city and the location of your building. You won’t have to contact them and explain that you want to take an internet link to share it with all your tenants.
Include your new internet service in leases or in annex?
If you are in the lease term, you can make an amendment to the existing lease to include the new rent including internet service. We advise you to check the CORPIQ website to get a copy of this change. You will be able to write that you now offer the internet in the “Other Services” included in the lease. In this case, during the refinancing the bank will ask you to provide them with invoices related to internet charges such as your internet provider, technical support, etc. Now that the value of your leases has increased, so will the value of your building.
You can also put the new monthly rent amount in the lease, indicate that you include the internet in the lease in a “lease annex” and have it signed to the tenant. This part will be linked to the lease and will explain to them that they will have internet included in their lease. Once again, the CORPIQ website will give you an example of an appendix. Wifiplex can also give you an appendix model to make your job easier. For the tenants it doesn’t make any changes. For the owner, on your next refinancing, your financial institution will ask you for the leases. It’s up to you to give them the appendices or not. In this case, the bank will not ask you for the invoices of your internet fees which will maximize the economic value of your building to its full potential and therefore therefore more money in your pockets.
The last option would be to add the internet to the next lease renewal by explaining to the tenants in writing that you will provide them with the internet included in the price of the increase in the lease or in annex.
Submit new Internet network information in writing to tenants
Once the internet/Wifi network is in place, you will be able to submit in writing information such as the name of the network and password or better yet, a username and password specific to each tenant for security. Write basic instructions to prevent tenants from bothering you to find out the name of the network, for example. Wifiplex offers a turnkey service. We will give you this information for each accommodation following the installation of your internet network. We strongly recommend that you include on this sheet a phrase saying that tenants are responsible for their internet consumption. We also suggest that you include this phrase in your building settlement so that your internet usage policies are known to all. If your tenants go to illegal sites, you will be protected. Network security is Wifiplex’s priority, we protect landlords as well as tenants among themselves as each tenant has their own individual secure access. If a tenant does something illegal, the landlord will send us the written message they received from their internet provider and a member of management will be able to provide them with information about the offending tenant. Prevention is better than cure. If your tenants go to illegal sites, you will be protected.