“A custom solution and fiber installation may be more affordable than owners think,” says Medford. She adds that when choosing an ISP (internet service provider), it’s important to ensure that the agreement can be transferred to a new property owner.

Medford notes that the saved expense frees owners to use that funding on other investments, amenities or property upgrades.

“The property could gain additional revenue by having this amenity,” she says, which could influence future loans or sales of the property. Medford adds that fiber can also impact the other half of the net operating income equation by reducing operating costs, including integrating new smart systems.

Fiber’s Impact on Resident Experience, Retention
In high-vacancy times, investing in fiber can make a property more competitive, create better resident experiences and help retain renters, says Seifried.

“The user experience is improved with fiber because you have minimal latency issues, but you do have symmetrical bandwidth on most plans,” she says, noting that this is especially important for consumers today who are working from home or doing online school.

Seifried points out that companies, such as Quantum Fiber, are tier one providers that own their network, which ensures that there are robust cybersecurity protections at all levels of the network and equipment, helping ensure stability and performance.

Property Owners Risk Issues if They Postpone High Speed Internet Installation
Medford says multifamily property owners can face additional problems if they delay installing high speed internet, a process that is not as invasive as they may think. These include frustrated property managers who can be burdened with tenant issues related to speed and degradation of the current service.

“Additionally, it could limit capacities for new technologies, making them less competitive and impactfinancial gains,” she says. “It’s a short-term pain for a long-term gain.”

Seifried concurs, noting that fiber’s speed, reliability and protections, plus residents can use as much as they need with minimal latency, delays and interruptions.

“Fiber is friendly and sustainable, which is why it is preferred by many renters today, which can make the property more competitive in an environment of growing vacancies,” says Seifried.

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