Internet connection has become almost as important as oxygen in today’s world, and people living in apartment buildings would be willing to pay a higher monthly rent if broadband was included. A new survey by Parks Associates finds that 40% of U.S residents who live in multi-dwelling apartments (MDU) are open to bundling internet services with their monthly rent. And 77% of those are willing to pay higher rent for the included service.
Many people rely on home internet connections for work, school, and entertainment. Rental properties including broadband services in housing communities as part of the monthly rent would provide residents a streamlined experience for bill-paying, as well as an incentive to lease an MDU. Residents who are 25-34 years old are most likely to be in apartments, as well as the ones more likely to be utilizing large amounts of the internet with smart home devices and more.
The COVID-19 pandemic has only accelerated the rates of internet consumption, and now would be a great time for housing complexes to leverage the perk of bundling broadband and rent to attract and retain residents.
“Consumers need broadband to live, work, learn, shop, and connect to healthcare, banking, and more,” Jennifer Kent, VP, Research, Parks Associates, said in a statement. “Social distancing during the COVID-19 pandemic has revealed consumer dependence on reliable connectivity and high-speed access, as it is the foundation for access to and quality of connected services like telehealth, video conferencing, and online fitness solutions to meet their daily needs.”