Being an entrepreneurs we’re always looking at being creative on how we can boost the NOI. And so implementation of various strategies such as allowing our communities to be pet-friendly allows us to deliver a longer lease cycle, essentially. So, with the pet fees and monthly recurring pet cost for our residents, every 12-month lease essentially becomes a 13-month lease.
Other tactics that we implement include selling Wi-Fi internet to our residents. So, we install the infrastructure and sell it to our residents. Similar to how you use a password key at a hotel room, but here, our residents are able to purchase three distinct packages of internet – just like they would from a major provider, whether it be AT&T or Spectrum, or other notable providers.
Other ways that we deliver value to the NOI include payless laundromat systems. So, removing managed laundry, taking ownership of it, and implementing the latest and greatest payless systems. And then really simple things that allow us to deliver greater NOI results.
Other things that help develop and build the NOI include our roll-up model of properties. We are able to take redundant administrative processes, bring them in-house under our umbrella here at Smartland and implement those processes already with the staff that we have and more ways that we deliver further NOI results include implementation of watersense fixtures throughout our properties.
So, mitigating water consumption, also implementation of LED lighting, throughout the interior and exteriors reduces our energy cost, delivering higher results to the NOI, and our investor-partners.