Fiber to the apartment gets called a lot of different names like, “FTTU,” “fiber to the unit,” and “fiber to the user.” What’s more important than what you call it, is what it could mean for your residential business. Keep reading to learn more about fiber to the apartment, gigabit internet and why it will only benefit you to install fiber optics in your apartment complex.
The 4-Step Process for Installing Fiber in Apartment Complexes
What is Fiber to the Apartment?
So, what is fiber to the apartment? Plainly stated, it’s a telecommunications solution for your business. But it’s much more than that. It’s a structured, gigabit-fiber cabling infrastructure installed throughout your apartment complex which enables your tenants to receive lightning-fast internet directly to their unit. Sounds pretty good, right?
It gets better. Gigabit fiber cabling sets the stage for endless opportunities to easily and affordably upgrade your telecommunications system.
Why Go Gigabit?
Some of the more obvious benefits of gigabit include the perks to the end-user—your customer:
- Stream movies instantly
- Download games in minutes
- Connect multiple devices simultaneously
Did you know that gigabit internet is up to 100 times faster than traditional cable? Your customers do.
Knowing what your customers want is important, but you still need to focus on your bottom line when deciding on a Wi-Fi system. The best part is, gigabit internet doesn’t sound too shabby from that perspective either.
Benefits for Apartments With Gigabit Internet
If you’re thinking about upgrading your existing Wi-Fi system or building a new residential property with gigabit fiber, there’s going to be an upfront investment involved. In order for gigabit fiber to make sense for your business, you’ll have to make that investment back in profits over time. Here’s how gigabit fiber internet can make up that difference in the short run.
Charge Higher Rent
Switching apartments is a lot of work for the tenant. They need to switch over their utility bills, change their address on every account, re-install their TV and Wi-Fi internet—literally uprooting their entire lives.
What if you could make that one step easier? By installing fiber to the apartment, you can.
When tenants arrive, their internet connection is already installed. All your residents need to do is register online and customize their services. During a stressful transition period, people will pay for any convenience.
Aside from all of the end-user benefits of gigabit fiber internet we listed earlier in this article, convenience adds value. Added value for the customer means you can charge higher rent and fees.
Increase Your Property Value
Purchasing an older, outdated property and retrofitting it with gigabit internet fiber is a viable business strategy! You can increase your property value by 3.1% just with fiber cabling. Even if you’re not planning on flipping your apartment complex immediately, your investment will be future-proofed by having such a flexible telecommunications installation.
The revenue generated in the short run is going to help your initial investment, but what about long-term savings? One of the best benefits of gigabit fiber to the apartment is the savings you’ll reap in the long run.
Save on Infrastructure Costs
Apart from just internet and Wi-Fi for your tenants, setting the fiber cabling infrastructure at your apartment complex opens doors for all other types of telecommunication and foundational needs for your property:
- Low voltage wiring
- Alarm system
- Security cameras
- And more!
A fiber cabling installation lets you add these upgrades to your property individually as needed, for a lower cost.
Future-Proof Your Property
One limitation of traditional copper wiring is its reduced bandwidth capabilities. Each year, the need for bandwidth increases as new technology arises—and consumer demand rises with it. Luckily, gigabit fiber doesn’t have those limitations.
Installing fiber optic cabling in your apartment complex will future-proof your property to handle resident needs for years to come.
Reduce Occupant Turnover
Apartment complex managers know that if you keep your occupant turnover rate low, you can majorly cut back on your new-resident expenses. Access to gigabit fiber internet has shown to increase tenant satisfaction, retention rates and the likelihood of getting a referral. Installing fiber optic cable in apartments is a win-win for you and your residents!
Let’s put it this way: your empty units aren’t going to fill themselves. To have a successful residential property business, you need to stay ahead of the curve and beat the competition. Using gigabit internet as a selling point in your apartment marketing plan could prove to be an effective strategy.
Differentiate Your Property
First, consider your competition. Do the other apartment complexes in your area offer high-speed internet options? What about gigabit fiber internet? If not, installing fiber optic cabling would be a huge leg up for your market differentiation.
If they do, it’s even more of a reason to install. Failing to upgrade your units to the latest technology could result in your competitors leaving you in the dust.
Offer High-Speed Internet Amenity
More now than ever, your customers are looking for the most value for their dollar. Traditional amenities like a pool, gym and cable TV just aren’t as important as they once were. Did you know that the #1 requested amenity for apartments is high-speed internet? Don’t let that one missing link prevent you from closing a deal with a prospective resident.
Capitalize on the Buzzwords
For some, finding the perfect apartment to live in is more about status than reality. This is where marketing comes into play. Using the right luxury buzzwords your customer is searching for could easily put you higher on their wishlist (even if you weren’t in their initial price range!).
Creating perceived value is just as important as delivering a higher quality of residential life.