Certifying a portfolio with WiredScore: The top five benefits
Posted:
9 / 10 / 2021
Tagged:
Digital connectivity is vital to the way we live and work, which is why WiredScore’s mission is to make the world’s buildings smarter and better connected, to enable a more collaborative, innovative and dynamic future.
WiredScore understands life’s digital demands. We believe that well-connected homes make better-connected communities, and digital-first offices make the most efficient hubs for collaborative, effective working.
WiredScore teamed up with Fizzy Living to certify all of the buildings across Fizzy Living’s residential portfolio. With great connectivity comes even greater possibility, and with WiredScore certification, Fizzy Living properties prove that they don’t just meet the digital demands of modern life, they exceed them.
In a recent case study, Fizzy Living identified offering high standards of digital connectivity on a portfolio-wide level as one of the key factors for boosting their tenant retention rate. Fizzy Living now boasts an average tenancy of 18 months – that’s six months longer than the London average.
“For our residents, good internet connectivity is just as important as hot water. It’s essential and incredibly important that each building in our portfolio benefits from it. Whichever location residents choose, they can rest assured that the WiFi will not be an issue.
“We know that great, reliable and solid digital connectivity is an absolute necessity for our residents and therefore investing in making sure they have access to it is non-negotiable for us.” Fizzy Living
The top five benefits of portfolio sign up
Connectivity is a key concern. Without the ability to connect and remain connected, we can’t keep in touch, we can’t work efficiently, and modern life as we know it grinds to a near standstill. As we emerge from the pandemic, real estate is focussing on connectivity like never before: the hybrid mode of working is proving a real favourite, placing new pressures on the digital capabilities of buildings as our dependence increases.
The proliferation of internet-connected devices in the modern home, and the rise in streaming services, mean it’s essential that we have the right technological infrastructure in place to adapt to technology as it changes over time. As digital demands soar, and expectations rise, good connectivity is considered an essential utility.
WiredScore allows landlords to efficiently communicate that they’ve recognized this need by placing connectivity at the top of their agenda, in turn allowing them to communicate their premium-level services. There are some key benefits to achieving WiredScore certification across an entire portfolio, be that in the residential or commercial sector. Let’s take a closer look at the top five:
1. Portfolio Benchmarking
WiredScore allows you to objectively benchmark the performance of your assets against each other through a range of criteria including: digital infrastructure, internet service provision, and mobile signal.
WiredScore will then carry out a gap analysis to enable you to identify key areas of the portfolio which require capital expenditure and inform your portfolio investment strategy. This ensures that no single asset falls behind and mitigates technical obsolescence across the entire portfolio.
2. Investor Reporting
A study carried out by UBS found that investors with a higher exposure to WiredScore across their portfolio indicates that forward-thinking management teams are focused on ensuring that their portfolios remain competitive by delivering best-in-class connectivity. This is optimal for long-term returns and shows that all assets are able to deliver at a competitive and relevant standard.
3. Investment Strategy
An asset’s ability to adapt to new technologies has a direct impact on its risk profile.
WiredScore guides in-building technology investment across the portfolio, helping you to determine which assets require investment with accuracy and efficiency.
This will help to demonstrate to prospective investors that you have taken the necessary steps to minimize future capital expenditure and that the entire portfolio is able to cater for the varied technical requirements of sophisticated tenants, thereby lowering the risk of vacancy.
4. Future Proofing
We all have an ever-growing toolbox of technology that we rely on to live day-to-day with ease and efficiency. It’s therefore essential that the homes and offices in which we operate are able to accommodate this both today and in the years to come.
In certifying a portfolio, an owner reassures tenants that they are fully committed to offering a well-rounded digital experience, no matter the building, no matter the location.
5. Branding
Brand your business and your assets as technologically forward thinking. WiredScore provides a unique selling point for your assets, and really helps to stand out amongst the competition.
A WiredScore certification across all of your assets is also a mark of consistency, showing present and future tenants that you uphold the same high standards across your entire service offering. WiredScore is a trusted mark that boosts recognition and improves levels of resident/occupier satisfaction.
WiredScore also proves to be a real marketing hack when it comes to attracting and retaining tenants. It’s a clear and simple way to communicate that you’ve placed exceptional levels of digital connectivity at the heart of all of your assets.
For more ideas and inspiration on maxing out on your hard-earned WiredScore certification, take a look at our blog: “How to communicate your certification to tenants”.
Connectivity is a key concern. Without the ability to connect and remain connected, we can’t keep in touch, we can’t work efficiently, and modern life as we know it grinds to a near standstill. As we emerge from the pandemic, real estate is focussing on connectivity like never before: the hybrid mode of working is proving a real favourite, placing new pressures on the digital capabilities of buildings as our dependence increases.
The proliferation of internet-connected devices in the modern home, and the rise in streaming services, mean it’s essential that we have the right technological infrastructure in place to adapt to technology as it changes over time. As digital demands soar, and expectations rise, good connectivity is considered an essential utility.
WiredScore allows landlords to efficiently communicate that they’ve recognized this need by placing connectivity at the top of their agenda, in turn allowing them to communicate their premium-level services. There are some key benefits to achieving WiredScore certification across an entire portfolio, be that in the residential or commercial sector. Let’s take a closer look at the top five:
Featured
In a nutshell:
Signing up a portfolio is an exceptional way to weave a thread of consistency throughout all of your assets, guarding against technical obsolescence and providing you with a marketing tool that has provable success rates in boosting the investment appeal of any asset. As a globally-recognized standard of digital connectivity, certifying an entire portfolio really shows to your tenants that their digital experience is top of mind, no matter where they choose to work or reside across your portfolio.