How Andrena Provides Multifamily Properties With A Complimentary Connectivity Foundation Through Managed WiFi Solutions

The internet has become an integral part of everyday life for the vast majority of Americans, including multifamily owners and operators. However, all internet access is not created equal.

One company working to bridge this gap is Andrena, a New York-based wireless internet and managed WiFi service provider that connects multifamily communities with a connectivity foundation that has a positive impact on property net operating income and resident satisfaction.

"In the process of building a new affordable Internet solution, we created a system that simultaneously caters to luxury apartments as well,” Andrena CEO Neil Chatterjee said in a statement. “We believe that solving the connectivity needs of both types of properties can usher in the next generation of internet.” 

Founded in 2016, Andrena “works to unlock a property’s true potential” by acting as a holistic connectivity foundation that property managers can use for operational efficiency, smart building features and Internet of Things applications. So far this year, the firm has secured $15M in Series A funding from investment firms including Dragonfly Capital and Blockchange Ventures.

Chatterjee said that the company has two propertywide managed WiFi solutions: the internet “opt-in” and the “tech amenity” option. Both options provide the owner with a complimentary connectivity solution to use for building operations and resident amenity spaces.

The "opt-in" service provides residents with an instant-on service option for reliable, affordable and secure in-unit internet within minutes of moving in. 

"Long gone are the times of taking a day off work to wait for an install. As technology advances, so should the way residents get service," Chatterjee said.

“Traditionally, when offering managed WiFi services, property managers are forced to only offer the contracted provider in every single apartment, residents have no choice of provider,” Andrena Chief Revenue Officer Tony Ontiveros said. “What sets Andrena apart from the rest is that residents can ‘opt in’ if they choose. This is something that’s very uncommon in this industry.”

The “tech amenity” option gives property owners the chance to add WiFi as a built-in amenity within each lease. In addition to the future-readiness of the Andrena Internet System, the "tech amenity" package offering provides owners with a greater impact on property NOI.

Ontiveros said that from a building owner’s perspective, both options have a positive effect on net operating income. The “opt-in” service provides a positive NOI impact based on traditional revenue-sharing models, while the “tech amenity” option gives owners the ability to create their own margin within the rent or as an add-on technology fee, ultimately creating another stream of revenue. 

Since home WiFi typically costs around $70 a month, a vital aspect to Andrena’s managed WiFi service is affordability, Chatterjee said. The company achieves opt-in rates starting at $25 a month through several operational efficiencies created by Andrena’s technology. The "tech amenity" package for real estate partners can cost 30% to 50% less than retail rates.

“We build out our network wirelessly, so we are able to cut a lot of costs that other providers have to expend digging through streets, attaching to poles and so on,” Chatterjee said. “That’s big operational savings for us. We also don't have to roll a truck or technician out for every install. Once we've installed our system in a building, residents are able to be up and running and registered within three minutes on their handheld device.”

In turn, Andrena passes the operational savings on to its clients. The firm provides buildings with value in regard to operational efficiency by providing real estate partners with propertywide connectivity at no cost, Chatterjee said. This propertywide connectivity foundation can be used for everything from monitoring security and HVAC systems, to controlling smart devices such as thermostats and lighting. 

“All of these smart devices and IoT applications require a connectivity foundation to function properly,” Chatterjee said. “The Andrena Internet System provides that foundation.”

Andrena also creates a future-ready foundation for its real estate partners by providing extra fiber capacity in its in-building infrastructure for future technological advances, he added. 

“If you live in a rapidly growing area and only need a two-lane highway today, you know you’re going to need more lanes in the future,” Ontiveros said. “We are essentially building a five-lane highway with our WiFi system, because we know that technology is going to improve and become more advanced.”

Please contact Michael Weiss at michael@andrena.com or Jim McDonough at jim@andrena.com for more information. 

This article was produced in collaboration between Andrena and Studio B. Bisnow news staff was not involved in the production of this content.

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.