For Build To Rent tenants, Wi-Fi for new developments is now more important than ever. Whether that be for working, entertainment or keeping connected- fast Wi-Fi is essential for raising customer satisfaction and increasing occupancy. In fact, 5 out of 10 of Homeviews’ top 10 developments in 2021 featured Wi-Fi in their service offering. But, how can Wi-Fi add value to your development?
In 2021, the internet is a necessity. Hence Wi-Fi in new developments is too. So important that the website Rightmove has added broadband speeds and availability to its lists of houses for sale. It shows the information is attracting 400,000 page views per month. Around 3,000 of its users have reported that speedy broadband is now more important than transport links or schools. This highlights that it is the fourth utility after water, electricity and gas. If that isn’t evidence enough that Wi-Fi is a must for new developments or refurbishments, read on. According to research by WhatHouse, the absence of fast broadband can impact the value of a home significantly. In addition to this, including bills is an upward trend. Even the cost of the installation is tax-deductible and the service itself would be cost-neutral to you. All in all, what is evident is that Wi-Fi can bring huge added value to New developments or refurbishments.
Bringing your property into the future:
The only way forward is the internet. The number of Internet users has increased from 1.1 billion in 2005 to 3.96 billion in 2019. Not only has the use of Wi-Fi increased, but the user has at the same time. Wi-Fi in new developments (or refurbished ones) could reap huge cost savings for gas, electricity and water at the same time. By using Wi-Fi to monitor and change these utilities the future owner will have more control over bills and how their property is run. This is a huge attraction for Landlords and to potential buyers/renters since the cost of utilities such as gas is expected to rise. In addition to this investing in Wi-Fi within your development will help to future proof it, assisting in reducing the depreciation value over time.
If your property is that step ahead from other properties, customers will be more inclined to make a long term investment and see the added value. Being able to control the heating, lights and multiple other appliances via Wi-Fi is just one step for IoT in new developments. The future cost-saving homeowners with built-in broadband will receive is indubitable. This is a huge selling point giving a competitive advantage over other property developers. The ability to monitor and manage utilities will also improve how ‘green’ your building is, benefiting the all-round rating of your development. This can be backed up by research from Imperial College. They found that new developments with pre-installed Wi-Fi benefited from a boost in value that could be worth up to 8% above the market price.
It is clear that Wi-Fi in new developments is now vital for both occupancy and satisfaction. Find out more about Wi-Fi for new developments here.