Increase NOI with Building-Wide Internet & Value-Add Solutions for Multifamily Buildings in Las Vegas

Increase NOI with Building-Wide Internet & Value-Add Solutions for Multifamily Buildings in Las Vegas

Boosting Net Operating Income (NOI) with High-Speed Internet & Smart Technology for Las Vegas Multifamily Properties

In Las Vegas’ competitive rental market, Class A and B properties are facing higher vacancies due to an influx of newly built units offering modern amenities. For small multifamily and older property owners, staying competitive means offering value-added features that not only attract tenants but also maximize Net Operating Income (NOI).

A proven strategy for enhancing tenant experience, reducing turnover, and increasing property value is implementing building-wide high-speed internet and smart technology solutions.

The Value of High-Speed Internet & Smart Technology in Multifamily Buildings

By integrating internet and smart building solutions, Las Vegas landlords can boost NOI by 1-2% without requiring significant capital investment. These upgrades not only improve tenant satisfaction but also justify higher rents and create a strong competitive advantage in a shifting market.

Key Benefits of Technology Upgrades for Multifamily Investors

1. Increase Rental Income:

• Offer high-speed internet as an included amenity in rent, allowing higher lease rates.

2. Reduce Vacancy & Turnover:

• Tenants expect fast, reliable internet, making your property more attractive than competitors.

3. Lower Maintenance Costs:

• Managed Wi-Fi and smart technology reduce IT and connectivity issues, minimizing landlord expenses.

4. Gain a Competitive Edge:

• Older buildings with tech upgrades can compete directly with newer Class A properties.

5. Simplify Property Management:

• Integrated smart systems streamline operations, including:

• Security cameras

• Gate access

• Emergency communication systems

Implementation Strategy for Las Vegas Multifamily Owners

To achieve higher NOI and attract quality tenants, follow these implementation steps:

🔹 Bundle Internet Into Rent:

• Tenants prefer simplicity, avoiding the hassle of dealing with multiple utility providers.

• Bundled services allow higher rent pricing while offering value to tenants.

🔹 Enhance Common Areas:

• Add managed Wi-Fi to lobbies, courtyards, and shared spaces to increase property desirability.

🔹 Integrate Smart Building Features:

• Install smart locks, security cameras, and automated gate systems to boost convenience and security.

🔹 Provide Dedicated Tenant Support:

• Offer easy move-in experiences with pre-installed internet and self-setup options.

• Support teams can assist tenants quickly, reducing frustrations and turnover risks.

Case Study Success: How Smart Internet Upgrades Boost NOI

📍 Example: The Jasper – Los Angeles, CA

• Property Type: 296-unit building upgraded with high-speed fiber and public Wi-Fi.

• Tenant Adoption: 54% of tenants self-installed internet within minutes, with the remaining receiving concierge setup.

• Financial Impact:

• 1-2% NOI increase achieved by bundling Wi-Fi with rent.

• 95% occupancy rate maintained post-upgrade, showcasing the impact of tech enhancements.

Key Takeaway:

• By including internet as a rental amenity, the property owner increased income, reduced turnover, and maintained high occupancy in a competitive market.

Why Now Is the Time to Upgrade Your Las Vegas Multifamily Property

With higher vacancies in Class A and B properties, landlords must differentiate their units by offering high-value amenities without excessive renovation costs.

Top Reasons to Implement Internet & Smart Solutions:

• Attract Tech-Savvy Tenants: Especially remote workers, young professionals, and families who prioritize connectivity.

• Enhance Property Appeal: Smart technology makes older properties more competitive with new developments.

• Increase Revenue: By charging premium rents for properties with advanced technology.

• Future-Proof Investments: Stay ahead of market trends by adopting technologies that tenants expect.

How to Get Started: Boosting Your Portfolio’s Performance

If you own a small multifamily building or older rental property in Las Vegas, upgrading connectivity and smart technology is one of the most cost-effective ways to:

• Attract quality tenants

• Increase revenue

• Reduce vacancy rates

Let’s discuss how to implement these solutions to achieve better returns and future-proof your investments.

FAQs: Increasing NOI with Building-Wide Internet & Smart Technology

1. How can high-speed internet increase NOI in multifamily properties?

Including high-speed internet as a rental amenity allows higher lease rates, improves tenant satisfaction, and reduces turnover.

2. What smart technology features should I consider for my Las Vegas property?

Smart locks, security cameras, automated gate systems, and managed Wi-Fi are high-impact upgrades that increase property appeal.

3. How does bundling internet into rent benefit property owners?

• Simplifies billing for tenants.

• Creates an additional revenue stream.

• Improves occupancy rates by offering valuable amenities.

4. What is the cost-benefit of smart building solutions for older properties?

Compared to major renovations, technology upgrades are affordable and quickly enhance NOI through increased rental income and lower vacancies.

5. Can smart technology help with property management efficiency?

Yes, smart systems streamline property management, including security, tenant communications, and maintenance efficiency.

6. Is it worth investing in tech upgrades for Class C properties?

Absolutely! Class C properties benefit from smart technology by enhancing appeal, keeping vacancy rates low, and offering higher value in affordable housing markets.