Many Older Multifamily Properties Struggle To Provide Reliable Wi-Fi, According To Parks Associates

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Sep 19, 2024, 08:51 ET

New white paper addresses next-gen Wi-Fi solutions for multifamily property owners and managers

DALLAS, Sept. 19, 2024 /PRNewswire/ -- Parks Associates today announced new research, Scaling Connectivity for Multifamily Properties, revealing 82% of multifamily properties that are 10 or more years old and offer Wi-Fi report difficulty maintaining network connections. By comparison, only 13% of newer properties report the same problems.

Parks Associates (PRNewsfoto/Parks Associates)

The white paper, developed in partnership with Xfinity Communities, a division of Comcast Corporation serving multifamily properties, highlights the challenges facing older MDU (multidwelling unit) properties in deploying and supporting modern networking and IoT solutions. Scaling Connectivity for Multifamily Properties also details current methods and recent innovations that existing properties can leverage to overcome these issues to deliver reliable and high-quality smart building benefits to their residents.

"A lack of suitable pre-existing networking infrastructure is a top barrier holding MDUs back from widely deploying IoT," said Jennifer Kent, VP, Research, Parks Associates. "Additionally, many properties do not own the wiring infrastructure, making new connectivity deployments costly or not feasible. As a result, older properties are far less likely to offer smart amenities and those that do encounter significant challenges due to their existing infrastructure."

Next-gen managed Wi-Fi solutions are key for existing properties looking to roll out IoT solutions but faced with these infrastructure barriers. Next-gen Wi-Fi systems are also designed to be scalable, allowing properties to expand services as technology advances and residents' technology needs evolve.

"Robust, property-wide connectivity is the foundation of modern multifamily living – it's no longer optional, it's a competitive imperative," said Ilan Eframian, Vice President of Xfinity Communities. "By unlocking the potential of existing infrastructure and adopting cutting-edge solutions and systems, property owners can elevate their communities, enhance operational efficiency, and foster long-term loyalty with residents."

Investment in a robust internet infrastructure is crucial for remaining competitive in the rental market, and current solutions allow existing properties to upgrade their amenities now, which can provide new revenues, improve resident experiences, and simplify property management operations.

"To attract long-term residents, properties must be prepared to offer the amenities and features their tenants value—connected systems and solutions that deliver a premium living experience," Kent said.

Parks Associates will highlight this research and more at its upcoming Smart Spaces: Apartments, Hospitality, and Community Living in Dallas, September 24-25 at the Renaissance Dallas Richardson Hotel. Event sponsors include ADT Multifamily; Cox Communities; Nice; Vantiva; Xfinity Communities; Kwikset; Calix; Homebase, a Quext Company; SmartRent; SkyBell; DojoNetworks; WireStar Networks; Zentra Access; and Salto.

To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein at [email protected] or 972-490-1113.

About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households. https://www.parksassociates.com

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About Xfinity Communities
Xfinity Communities provides residents, property managers, owners and developers with a smarter living experience that differentiates properties with customized solutions. Offering a better network, better entertainment and better service to multifamily properties, senior villages and college dwellings, Xfinity Communities properties deliver an end-to-end service throughout the resident's technology lifecycle. Xfinity Communities is transforming more than 189,000 properties and 14.7 million units across the country. For more information visit Xfinity Communities or follow us on LinkedIn.

About Comcast Corporation
Comcast Corporation is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences.

SOURCE Parks Associates