|New Technology Provides New Opportunities For Community Associations
We live in a very advanced technological era and that means new technology makes life and work easier. Before, phone companies only provided phone services and cable services only did cable; they were separate things that required two totally different bills. But that’s no longer the case and we have many more options for service providers and bundles. Community associations now benefit from these changes and are even enjoying tings like high speed Internet, which can deliver amazing speeds like 1 Gig via GPON over Fiber via phone entities, while cable companies are now able to offer DOCIS 3.1 over regular Coax wiring.
Of course, communities don’t really need to switch over as new technologies continue to arise, but knowing what’s out there and what options are beneficial can really be a selling point for potential residents. And even current residents will enjoy having the best TV, Internet and phone provider services, which can often come bundled for better pricing for the community as a whole.
Right now, the most common type of “Bulk Agreement” features cable TV video services but these agreements also not include both video and Internet service because the Net is now an essential part of life. Many residents already have it, so the thought behind this is why not bundle it together to make it easier for residents and their billing (and not to mention a discount). An association can get a volume discount for these services in exchange for a multi-year agreement with the company with pre-set rates and annual rate increases. But these rights can be non-exclusive, which is where non-bulk “Marketing Agreements” come into play, which will compensate the community association if the provider is exclusive to the property.
So how does a community choose the best provider?
It’s a hard decision to make. For many community associations, a bulk cable/Internet service bill is usually one of the biggest financial expenditures for the community, so it’s important that you find a solution that provides good service and competitive pricing.
Here are some tips to help make the right decision:
Start reviewing the community’s existing service contract at least 24 months before the current agreement expires so that the association won’t be hurried into making a decision.
Get Multiple Proposals
Always get more than one proposal from service providers to have better negotiating power. And it will determine what options are important and which are not.
Get the opinion from an expert in the field to help make a more informed decision.