Group Rate Internet for SFR with Andrew Smallwood at Second Nature
Mar 19, 2025
auto_awesome
Andrew Smallwood, Chief Customer Officer at Second Nature, shares insights on the revolutionary 'group rate internet' service designed for property managers and residents. He discusses the benefits of high-speed internet at reduced costs and its positive impact on resident satisfaction. Andrew also explores innovative internet agreements with ISPs that facilitate better pricing. The conversation highlights the importance of enhancing the resident experience through improved communication and streamlined internet services for rentals.
The introduction of the group rate internet service promises reduced costs and improved connectivity for residents in rental properties through bulk negotiation with ISPs.
Streamlining the leasing process by transforming lengthy documents into user-friendly formats enhances resident transparency and supports informed decision-making during onboarding.
Focusing on customer retention and enhancing existing client relationships fosters loyalty and advocacy, significantly benefiting property management market presence.
Deep dives
Streamlining Lease Complexity
Property management can become increasingly complex when modifications are made to existing lease terms, such as extending lease durations. To address this complexity, a significant reduction in the number of lease packages is suggested, leading to a tenfold decrease in variability. By integrating automation and established rules into the lease management process, efficiency is enhanced and friction for property managers is minimized. This streamlining not only facilitates operations for management teams but also offers a more user-friendly experience for residents.
Introduction of Group Rate Internet
A new service, referred to as 'group rate internet', has been introduced to enhance connectivity for residents in rental properties. This offering makes gig-speed internet available at lower than retail prices with seamless setup, targeting the 98% of residents already purchasing this service independently. Unlike traditional concierge models, this approach involves negotiating bulk rates directly with major internet service providers, thus creating recurring revenue streams for property managers. The anticipated result is a more satisfying resident experience by eliminating unnecessary fees and making internet access more affordable.
High Resident Adoption Rates
With the introduction of the group rate internet service, high resident participation is expected due to its value proposition and integrated marketing strategies. The service will be presented to residents during the leasing process, clearly outlining the benefits of having reliable, high-speed internet included. Unlike traditional models with low conversion rates, the new strategy anticipates significantly higher adoption rates, potentially achieving 50-80%. This shift not only enhances resident satisfaction but undeniably contributes to the property management's ancillary income.
Transforming the Move-In Experience
The aim is to revamp the move-in process by providing clarity and simplifying the onboarding of new residents. This shift seeks to address the transition challenges from living in multifamily units to single-family rentals, improving transparency regarding resident responsibilities and property management services. By transforming lengthy legal documents into user-friendly formats, residents gain better insight into their duties, thus empowering informed decision-making. The ultimate goal is to create a streamlined and personalized leasing experience that enhances overall satisfaction.
Focus on Customer Relationships
Maintaining strong relationships with existing customers is emphasized as a core part of marketing strategy, countering the conventional approach of solely acquiring new clients. By investing in enhancing customer experiences and directly expressing appreciation at industry events, companies build advocacy and loyalty among their current customer base. This unique focus ensures that customers not only remain satisfied but also actively promote the brand through word-of-mouth. When recognized and valued, customers become enthusiastic advocates, significantly enhancing the overall market presence through authentic testimonials.
The content of this podcast is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this podcast. Additionally, some of the links included may be affiliate links, meaning I may earn a commission if you purchase through these links. Always perform your own due diligence before making any financial or business decisions.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
