Xfinity Communities, a division of Comcast Corporation serving multi-dwelling properties, has released multifamily property research in a new white paper, “Scaling Connectivity for Multifamily Properties,” from Parks Associates. The findings indicate that multifamily properties 10 years old or older face significant challenges in maintaining stable device connections, hindering their ability to implement IoT technologies and smart devices. These buildings often require urgent network improvements.
The research, in partnership with Xfinity Communities, explores solutions for older properties struggling with modern network and IoT technologies. There is a significant disparity: 82% of multifamily properties over 10 years old offering Wi-Fi report connectivity challenges, compared to just 13% of newer buildings.
“Robust, property-wide, connectivity is the foundation of modern multifamily living – it’s no longer optional, it’s a competitive imperative,” says Ilan Eframian, Vice President, 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.”
Property owners and managers face increasing pressure to modernize their multifamily properties to meet resident expectations, reduce costs and stay competitive. A robust network infrastructure is essential to achieve these goals by enabling smart building features, improving operations, and future-proofing the property.
Other notable findings from the Xfinity Communities Parks Associates study include:
- Most multi-dwelling unit residents say having internet ready to go immediately after moving in is “very important” in their next home
- 69% of properties that do not offer WiFi access to residents today say managing resident Wi-Fi is a hassle, the #1 reason for not offering it
- 32% of properties offering WiFi say they have difficulty maintaining device connections and 30% have difficulty managing credentials
Xfinity Communities emphasizes that technology is essential for multifamily property owners and developers to thrive in today’s competitive market. By making strategic investments to their existing network infrastructure, property owners and managers can transform older properties into smart, connected communities. This infrastructure supports essential services like property-wide Wi-Fi, connected amenities, and building IoT networks.
Parks Associates estimates there are 3.56 million smart apartment residential units in the U.S. market, and 2.7M smart condos, equating to 17% of residential MDUs. This research explores methods by which existing properties can make the most out of their existing infrastructure to gain access to smart building benefits and highlights key considerations for scaling connectivity upgrades to become a smart property quickly and cost-efficiently.
