What Does Connectivity Mean For Multifamily Properties?
In general, connectivity refers to mobile phone signal strength and internet speeds. Since internet connected devices have become a part of daily life for multifamily residents, so has the importance of strong connections. In fact, connectivity is one of the biggest factors impacting leasing decisions.
According to the Pew Research Center, 81% of Americans own smartphones and 51% own tablets. This ties in directly to changing trends in apartment amenities. The use of technology, more specifically mobile app technology, is driving the need for multifamily properties to offer strong connectivity. Properties that fall behind in offering strong mobile signals and internet speeds are likely to see increased vacancy rates as more and more renters prioritize strong connectivity.
Below are important connectivity state for multifamily properties that will only continue to drive the importance of mobile phone signal strength and internet speeds in leasing decisions.
8 Important Connectivity Stats For Multifamily Properties
- 91% of renters say mobile phone signal strength is important
- 44% of renters won’t lease a unit with poor mobile signal strength
- 35% of renters have 5 to 9 internet connected devices
- 91% of renters say high speed internet is important
- 64% of renters stream video media online
- 74% of renters say pre-installed WiFi is important
- 69% of renters say free community WiFi is important
- 46% of renters test mobile phone strength during property tours
Multifamily Connectivity Takeaways
The biggest takeaways from these 8 important connectivity stats for multifamily properties is that connectivity is extremely to renters across all types of devices. Property managers must be aware of this and use it to their advantage. This can include having leasing agents highlight WiFi speeds or mobile signal strength during a tour, or making a capital improvement to a property to boost connectivity.
Data and statistics from this article were taken from a recent report on apartment amenities by the National Multifamily Housing Council.
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