In this episode, Wayne talks to Kevin Gardner, President of Multifamily Utility Solutions (MUS), about creating miscellaneous income through cable, internet, and other contracts.
Kevin spent nearly 20 years with Comcast and was responsible for managing the team that negotiated telecommunications access agreements with multifamily property owners.
For multifamily property owners and their management companies across the country, Kevin’s experience has resulted in favorable contract terms and improved net operating income (NOI). In 2021, MUS’s clients increased their NOI by more than $4 million, resulting in an increase in asset value of more than $100 million.
Topics on Today’s Episode:
- Comcast: How Kevin got started in multifamily investments and settled into cable niche
- Profit-Sharing: How Kevin’s contracts work for multifamily tenants and property owners
- Buy in Bulk? You buy and pay for 100% of your unit whether amenity is used or not
- Bulk Agreement: It’s a fixed expense, so find out if there’s a contract via financials
- Right of Entry: Compensation given for permission/authorization to be on the property
- 100: When to add revenue to NOI with new or renewal agreement/contract opportunity
- Future of Cable: Streaming is inevitable but broadband pipe is critical to have for access
- FCC Ruling: Protect consumers and not eliminate or limit their choices for financial gain