Modern renters mainly look for convenience and good amenities in the property. By providing services like a phone, Internet access, and cable, Gastonia property management can effectively enhance the value and popularity of the property. These services will not only set your property apart from the competition, but will also provide added value to residents.
High speed broadband services are now easily accessible at reasonable rates throughout the country. According to NCTA (National Cable and Telecommunications Association) more than 90% residents in the country have access to cable TV programming, broadband Internet access, and cabled telephone service. Hence, most residents will be looking for these services and if they are bundled with the rent, it will be an added advantage.
Secondly, there are about 1,100 cable service providers and due to the new FCC regulations for curbing monopolies, these service providers are keen on making bulk retail deals. These deals usually carry incentives of 3 to 5% of revenue returns, which works out quite well for Gastonia property management, and the cable service can be made mandatory for all residents.
Such an arrangement provides genuine savings for residents as well, since the rates are discounted. The monthly fees will be billed and collected by property manager, which will work out as added bonus for the property owner. The service providers are able to provide discounted rates because they do not have to spend more on advertising and marketing their services.
However, before planning a service contract for the whole property or set of properties it is important to collect statistical data about resident preferences and habits. According to certain reports, the number of people owning television sets has gone down. Hence, if most of your tenants are not using television as a medium for entertainment and news, such a deal will be quite unwelcome, since it will increase the rent.
Before considering providing bundled services, it is important to consider the following points:
- People using analog TVs are usually unwilling to upgrade to digital sets, while most cable operators are transitioning to digital services.
- More residents now prefer internet-based programming, and want the best possible speed. If you are considering Internet package deals, keep in mind the speed expectations.
- There is usually resistance in changing providers, especially when residents are satisfied with their current service.
- The term of contract with the service provider will usually span a period of three to five years.
- Payments for service calls will be the responsibility of tenants. These rates can be up to $75 per call.
Basic and Critical Research
Once you are sure about the preferences of your tenants, most of them will find it convenient to pay their cable bills with the rent at a discounted rate. If you are not sure, run a survey with your existing tenants and maybe find out what most residents in your area prefer. It all depends on perception, and if Gastonia property management plans to bundle services, provide notice and be ready to discuss things with renters who are hesitating.