The multifamily industry is experiencing a digital transformation that promises to make apartment living safer, more comfortable, more convenient, and more entertaining than ever before. Building connected communities provides amenities that residents demand and delivers annual cash-on-cash yields that property owners love.
Boingo, a leading Wi-Fi and cellular operator, joined forces with LCOR, a multi-billion dollar multifamily and commercial real estate developer, to create a new approach to the resident experience. Boingo designed, built and continues to manage a new connectivity model that creates value for both the owner and the resident.
The Edison’s modern apartments include high-speed internet with download and upload speeds of up to 980 Mbps, available immediately upon move in.
A Case Study in Community-wide Connectivity: The Business Need
LCOR was looking for an innovative connectivity and internet solution for The Edison, the developer’s first luxe residential building in Washington, D.C. Recognizing connectivity as the new fourth utility, LCOR wanted an integrated internet service that was convenient, secure and owner-controlled. The service also had to be managed by a customer-focused, white-label partner and deliver rock-solid ROI potential.
For these reasons and more, LCOR turned to wireless leader Boingo.
The Solution
Boingo brought its vast experience in commercial-grade multifamily connectivity and resident engagement to the table. Working together, Boingo and LCOR disrupted the old connectivity model to introduce the LCOR-branded, "Speed of Light" internet service to The Edison. Boingo designed, sourced and installed all of the components of the network and system, including wireless access points in every unit.
LCOR markets and sells the Speed of Light opt-in service to residents. Boingo manages and provides all support on a 24/7 basis.
High-speed internet is available seamlessly throughout the property, from lobby to living room, couch to clubhouse.
Boingo Services Features
- Commercial-grade electronics built around a Gigabit Passive Optical Network (GPON)
- High-speed fiber optic internet with three tiers of speed
- Professionally-managed safety and security, providing much higher standards than residents deploying a personal wireless network
- Enterprise-grade wireless access points in every unit; residents' personal routers are not necessary
- Community-wide wireless; every part of the community has wireless access
- Easy, immediate plug-and-play; no appointment or technician needed
- No contract, no extra fees, no surprises, month-to-month service
Game-Changing Results
As residents began moving into The Edison, it was quickly apparent that Speed of Light was a winner.
“We’ve had great feedback from all of our residents. We currently have an adoption rate of 82%, which has exceeded expectations,” says Claudia Cortez, property anager of The Edison. “All the residents have had a great experience with Boingo.”
As LCOR anticipated, the right marketing approach and staff training yielded high penetration rates for service adoption. Plus, the quality of service provided by Boingo is on point for the LCOR brand.
- ROI: The Speed of Light project has doubled the projected break-even resident adoption rate required; and, annual yield exceeds 15 percent.
- Resident Satisfaction: More than 80 percent of residents adopted the monthly subscription service at the time of launch. Residents love the move-in/plug-in convenience as well as the reliability, speed and support.
- Efficiencies Gained: On-site staff saves time and expense not having to manage utility/cable vendor installations and repair calls.
- Savings Gained: More than $1,500/month was trimmed from the cost to deliver common-area and building management connectivity services for Internet and TV
- Marketing Edge: In a hip, urban, professional market, LCOR provides a differentiating service that reinforces their brand of future-proof living.
BOINGO WIRELESS
Email: multifamily@boingo.com
