With the rise of remote work, online education, and digital entertainment, internet access has become more critical than ever before. However, despite the necessity of staying connected with reliable internet, the cost of high-speed internet is a financial burden for many individuals and families. This is where bulk internet packages for community associations can provide a cost-effective solution.
In this blog post, we will explore the benefits of bulk internet packages for communities, including cost savings, infrastructure upgrades, better customer service, and resident satisfaction.
Cost Savings:
According to an Open Technology report, the average monthly cost of internet service in the US is $68.38, and it's increasing every year. Additionally, there are equipment charges such as modem/router rentals that may add an additional $10-$15 to your personal internet bill.
A recent analysis by Broadband Communities Magazine shows that bulk internet packages can save up to 50% compared to traditional retail pricing. By negotiating with ISPs on behalf of the community, the association can offer lower prices to individual residents, thus reducing their monthly bills.
A community association can negotiate with ISPs to offer fiber to the home (FTTH) infrastructure, which can lower the cost of service for residents in the long term by providing faster, more reliable internet.
Infrastructure Upgrades:
Bulk internet packages can give the community association the leverage to negotiate for infrastructure upgrades, such as fiber-optic connections, which are faster and more reliable than traditional broadband.
According to a report by the Fiber Broadband Association, FTTH infrastructure increases property values by up to 3.1%, providing long-term benefits for the community association and its residents.
Upgrading to fiber-optic connections can provide the infrastructure needed to support smart home technology, such as security systems, thermostats, lighting controls, and other emerging technologies that can enhance residents' quality of life.
Better Customer Service:
Service Level Agreements (SLAs) are an essential component of bulk internet packages as they outline the commitments and responsibilities of the internet service provider (ISP) and the community association. Examples of SLAs that can be included in a bulk internet contract are guaranteed uptime, speed commitments, data usage policies, and customer service commitments.
By negotiating with ISPs on behalf of the community, a community association can ensure that residents receive quality customer service with Service Level Agreements (SLAs) that hold ISPs accountable.
The ISP commits to providing high-quality customer service, with specific response times for service requests and technical issue resolution. The SLA may outline escalation procedures in case of prolonged or severe issues that need to be addressed quickly.
Resident Satisfaction:
Offering bulk internet packages can be a valuable amenity for community associations, as high-speed internet is among the most important amenity for renters according to a survey by the National Multifamily Housing Council.
High-speed internet can enhance residents' quality of life, allowing them to work from home more effectively, stay connected with friends and family, and access online educational resources.
Compared to other amenities such as a community pool, which residents may rarely use, offering a bulk internet package can be a practical and valuable amenity that residents use every day.
In conclusion, bulk internet packages offer a cost-effective solution for community associations looking to provide residents with high-quality internet access. YFi Advisors, an independent and full-service broadband consulting company that partners with communities to provide comprehensive analysis and unbiased guidance of potential bulk internet solutions, can help maximize the negotiating power of community associations: leading to better deals, faster internet speeds, improved customer service, and long-term cost savings.
With YFi Advisors' expertise, community associations can provide a valuable amenity that enhances resident satisfaction, saves the community’s residents money, and increases homeowners’ property values. Contact YFi Advisors today to learn more about how they can help your community achieve its internet access goals.
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