Internet connection has become almost as important as oxygen in today’s world, and people living in apartment buildings would be willing to pay higher monthly rent if broadband was included. A new survey from Parks Associates finds that 40% of US residents who live in multi-unit apartments (MDUs) are willing to bundle Internet services with their monthly rent. And 77% of them are willing to pay higher rent for the included service.
Many people depend on home Internet connections for work, school and entertainment. Rental buildings, including broadband services in residential communities as part of the monthly rent, would provide residents with a streamlined experience for paying bills, as well as an incentive to rent an MDU. Residents aged 25 to 34 are the most likely to be in apartments, as well as those most likely to use large amounts of the internet with smart home devices and more.
The COVID-19 pandemic has only accelerated rates of internet consumption, and now would be the perfect time for real estate complexes to take advantage of the benefit of bundling broadband and rent to attract and retain residents.
“Consumers need broadband to live, work, learn, buy, and connect to healthcare, banking and more,” said Jennifer Kent, vice president of research at Parks Associates, in a statement . “Social distancing during the COVID-19 pandemic has revealed consumers’ dependence on reliable connectivity and broadband access, as it forms the basis of access and the quality of connected services. such as telehealth, video conferencing and online fitness solutions to meet their daily needs. . “