Wi-fi monitoring and publishing: A game changer for 2023
Worldwide: Philip Pickard and Nick Smuts, co-founders of wi-fi verification platform Speedy, detail how reliable wi-fi monitoring and publishing is set to be a “game changer” for short-term rental property management businesses in 2023 as more people opt for remote or hybrid working lifestyles.
The world of property technology is evolving at a rapid pace, and the short-term rental industry is no exception. Digital engagement with guests is no longer a nice-to-have, it’s essential to remain competitive. Hosts must consider what tech features they want to implement and create a roadmap that starts with rock-solid connectivity. In the coming year, we can expect to see a continued trend towards wifi-enabled, automated and tech-savvy rental properties, set to transform the way people travel and work, making the rental process more seamless and convenient than ever before.
The remote work boom
Marking a two-fold increase since 2019, around 510 million people consider remote or hybrid work their normal. That’s over half of the one billion knowledge workers globally. While remote work has long been a dream for many, the past few years have fast-tracked this previously unattainable lifestyle into an expectation, if not a requirement, for many.
With inflation at an all-time high creating a cost of living crisis, significantly lower rent and food prices give remote workers the freedom to live the life they want and be happier for it. Compared to London or New York, remote workers living in cheaper locations can expect to save roughly 30 to 35 per cent on rent, groceries, public transport, and eating out. What’s more, many jurisdictions are introducing lower taxes for remote workers which increases disposable income.
In addition to visas and time zones, one of the biggest considerations for remote workers is internet quality. When your livelihood depends on staying connected, it’s vital to ensure that your accommodation can support your work needs, uninterrupted. It’s the most significant barrier to taking advantage of a cheaper life abroad.
In Q4 2022, Airbnb has reported a surge in longer-term bookings – almost a quarter of total bookings were 28+ days – bolstering an already growing cohort of remote workers.
The demand for high-speed and reliable wi-fi
High-speed and reliable wi-fi is vital to not only attract longer-term stays but also earn return customers. A recent study by Digital Information World showed guests are 84 per cent more likely to book a rental property if the listing includes internet speed results. For remote workers, wi-fi is their number one priority. They require enterprise-grade network performance, which means prospective hosts need to rethink the design, management, and promotion of their wi-fi networks, because internet outages have the potential to ruin what could have been a five-star stay.
More connected guests demand greater bandwidth, putting added strain on existing wi-fi networks. Bandwidth consumption increases have been dramatic, typically growing by about 50 per cent per year. This is hardly surprising given that US consumers use an average of four devices and subscribe to four streaming services with growing catalogues of 4K video content.
What isn’t monitored, can’t be managed
Property management companies have access to many online tools to manage their property portfolios through centralised dashboards, to assist their operations teams on the ground with guest check-in /out, cleaning, consumables restocking, property maintenance and more. Additionally, other tools help them manage their guest experiences, such as climate control and noise monitoring, however, what many don’t monitor is the properties’ wi-fi performance, which research suggests is having a significant impact on bad reviews and refunds, particularly with long-term bookings amongst remote workers.
Without absolute connectivity, tech-enabled features float in space, untethered and counterproductive. Chatbots cannot process requests, smart locks don’t work, and security cameras go offline. Ultimately, operations are constantly interrupted, which leaves not only guests feeling short-changed, but also hosts losing out on revenue due to online travel agencies [OTAs] issuing automatic refunds to guests.
Wi-fi performance monitoring and publishing
Purpose-built for rental properties, Speedy is a wi-fi verification platform that continually captures, monitors and publishes wi-fi performance data. Core to Speedy is its ability to separately measure speed and network reliability, including historical outages. Publishing Speedy’s rating allows property managers to capture increased bookings and attract longer-term stays from bandwidth hungry guests. What’s more, Speedy diagnoses network issues and sends real-time alerts via Slack and Microsoft Teams as soon as the wi-fi network goes down so property managers can proactively fix issues and protect against wi-fi related refunds and complaints. Speedy takes the guesswork out of the remote working experience and provides remote workers with absolute peace of mind to work uninterrupted without dropping off calls.
For more information about Speedy and its partnership opportunities, head to GetSpeedy.io or connect with them on LinkedIn and Instagram.
With the rise of tech-enabled stays, guests can look forward to a seamless, convenient and enjoyable rental experience. As technology continues to advance, the opportunities to enhance the rental process are endless, and we can look forward to a future filled with even more exciting innovations in the property technology space.
Launched in 2022, Speedy is a wifi verification platform that allows property managers to ensure a seamless wifi experience for their guests by capturing, monitoring and publishing wifi performance data. Among a wide range of applications, Speedy enables hospitality providers to closely monitor and maintain an entire property portfolio’s internet performance and advertise proven high-speed and reliable wifi to prospective guests . Led by co-founder and CEO, Philip Pickard, Speedy is spearheading internet transparency globally. Find Speedy here.
Speedy co-founder Philip Pickard will be participating in the upcoming ‘Pitch to Paul’ STRz webinar on Tuesday 5 April [4pm BST] – sign up for the no-cost session at this link.