Connectivity NOI Assessment
Connectivity is a line item on your T-12. We help you read it.
T12 Advisory reviews your ISP bills, bulk agreements, marketing and access contracts, and resident internet experience — then delivers an NOI opportunity report your team can act on. The initial review is complimentary.
Built for owners, asset managers, and PM executives. No obligation, no provider changes required.
What we review
A Connectivity NOI Assessment looks at every place internet touches your operating statement — expense, revenue, and workload.
ISP bills and invoices
Line-by-line review of what the property actually pays, per meter and per service.
Contracts and renewal timing
Terms, auto-renewals, escalators, and the windows where you have leverage.
Bulk-service agreements
Per-unit rates, service levels, and how the terms compare to what similar properties see.
Marketing, access, and revenue agreements
What the property receives, what it granted, and whether the structure raises questions under current rules worth reviewing with your counsel.
Resident internet options
What residents can buy, what they pay, and how that shapes satisfaction and renewals.
Support burden
Who fields connectivity complaints today — your staff or the provider — and what that costs in hours.
Infrastructure and wiring
Existing cabling, ownership, and physical constraints that shape your realistic options.
Owner revenue and simplification opportunities
Where the property may be leaving revenue or operational relief on the table; any structural or regulatory questions are flagged for your counsel.
How it works
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Share documents.
Send us recent ISP bills, agreements, and anything else on the checklist. Our intake form accepts uploads, or we can work from whatever your team has on hand. Gaps are fine — we work with partial files regularly.
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Analysis and benchmarking.
We review your terms, rates, and structures against what we see across multifamily properties, flag items worth attention, and estimate the ranges involved.
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NOI opportunity report.
You receive a written report: findings, options, illustrative ranges, and specific items flagged for review with your counsel and advisors. You decide what, if anything, to pursue.
Most assessments complete within two to three weeks of receiving documents.
Why connectivity belongs on your NOI agenda
Connectivity sits in an unusual position on the operating statement. It can be an expense (bulk internet, common-area circuits), a revenue line (compensation under marketing or service agreements), and an operational cost (staff hours spent on resident connectivity complaints) — often all three at once, spread across accounts nobody owns end to end.
Because it is fragmented, it is rarely benchmarked. Contracts renew automatically. Rates escalate quietly. Agreements signed under one regulatory regime stay in place under another. Typical findings in an assessment include above-market bulk rates, unclaimed or under-structured compensation, renewal windows passing unnoticed, and support burden sitting on the property's payroll instead of the provider's.
Small per-unit numbers compound. Here is the arithmetic — and note carefully what it is and is not:
Illustrative arithmetic — not a projection, prediction, or promised result.
Suppose a 200-unit property identified a hypothetical net improvement of $10 per unit per month — from any mix of expense reduction, revenue, or workload shift.
- $10 × 200 units × 12 months = $24,000 in annual NOI
- At an assumed 5.5% cap rate, $24,000 ÷ 0.055 ≈ $436,000 in implied asset value
These figures are hypothetical inputs run through standard formulas. Actual results at any property depend on its contracts, market, providers, and decisions, and are not guaranteed. The assessment identifies and estimates opportunities; outcomes are determined by what you and your advisors choose to do.
The point is not the specific numbers. The point is that a line item this leveraged deserves a periodic, deliberate review — the same way you treat insurance, taxes, and utilities.
NOI opportunity math
This is a calculator, not a forecast. You choose a hypothetical per-unit monthly improvement, your unit count, and a cap rate; it runs the standard formulas. It knows nothing about your property and estimates nothing on its own — it simply shows how per-unit connectivity numbers translate to NOI and implied asset value, using inputs you pick.
A number you choose to test — not an estimate of your property. Improvements can come from expense reduction, revenue, or workload shift. Current value: $0/unit/mo
Total residential units at the property.
Use whatever rate you'd apply to this asset. The implied-value figure is just NOI ÷ cap rate. Current value: 5.5%
Move the slider to see the arithmetic.
- Hypothetical annual NOI change
- $0
- per-unit $ × units × 12
- Implied asset-value change (illustrative)
- $0
- annual NOI change ÷ cap rate
Illustrative arithmetic only. These figures are produced entirely from the hypothetical inputs you selected, run through standard formulas. They are not estimates, projections, or predictions for any property, and they are not a promise or guarantee of savings, revenue, NOI, or asset value. Actual results depend on a property's contracts, market, providers, and decisions. An assessment identifies opportunities for you to review with your own counsel and advisors; it does not determine outcomes.
Want an estimate grounded in your property's actual bills and agreements?
What you receive
Every engagement produces a written NOI Opportunity Report, typically 8–15 pages, prepared for the owner and asset-management audience:
- Findings — what your bills, agreements, and resident setup actually say, stated plainly.
- Benchmarks — how your rates and terms compare with what we typically see at comparable properties, with the basis for each comparison noted.
- Options — the realistic paths available: renegotiate, restructure, add services, simplify, or leave things as they are. Many properties' best move is a better version of what they already have.
- Illustrative ranges — estimated financial impact for each option, clearly labeled as estimates.
- Counsel flags — contract provisions and regulatory questions we recommend you review with your own attorneys before acting. We identify the questions; your counsel answers them.
The report is yours. There is no obligation to engage us or anyone else afterward.
The initial review is currently complimentary.
Who we are
T12 Advisory is an owner-side advisory practice focused on one narrow subject: connectivity economics at multifamily properties. Our team operates and negotiates multifamily connectivity every day — bulk agreements, provider negotiations, resident support operations, and property infrastructure — which is why we can read an ISP invoice or an access agreement quickly and tell you what is normal, what is not, and what is worth a conversation. We work for the owner's side of the table, we put our findings in writing, and we flag anything legal-shaped for your counsel rather than opining on it ourselves.
Common questions
Is this legal advice?
No. T12 Advisory is not a law firm and does not provide legal advice, legal opinions, or conclusions about contract enforceability. Our reports describe what your documents say, benchmark commercial terms, and flag provisions and regulatory questions for review by your own counsel. Where we reference regulations, we state them as general information, date-stamped, not as advice about your situation.
What does it cost?
The initial Connectivity NOI Assessment is currently complimentary. If a further engagement makes sense afterward, we scope and price it separately, in writing, before any work begins. You are never obligated to continue past the initial report.
What documents help most?
Recent ISP invoices (three months is plenty), any bulk-service agreement, any marketing, access, or revenue-share agreement, and rough notes on resident complaints or support volume. The assessment checklist lists everything useful — but partial documentation is normal, and we can start with whatever you have.
How long does it take?
Most assessments complete within two to three weeks of receiving documents. We confirm receipt within two business days and tell you then if your situation will take longer.
Do we need to change providers?
No. Many engagements end with a renegotiation of existing agreements, a restructuring of terms, or a conclusion that the current setup is sound and no change is warranted. The report gives you options and estimated ranges; the decision is entirely yours.
What about our existing agreements?
Existing agreements are usually the center of the assessment, not an obstacle to it. We review terms, renewal and notice windows, escalators, and compensation structures, and we benchmark them against what we typically see. Where an agreement raises legal questions — confidentiality, assignment, regulatory fit — we flag those for your counsel rather than interpreting them ourselves.
How do you handle our documents?
Documents you share are used solely to perform your assessment. We do not resell them, add them to benchmark databases, or use them to train models. Uploaded files should have resident-level personal information redacted. Our privacy policy and upload terms describe retention and deletion, including deletion on request.
Are the rules around bulk internet and revenue agreements changing?
They have changed and continue to evolve, which is one reason periodic review matters. As of mid-2026: exclusive-access arrangements in residential MTEs are prohibited under FCC rules; a 2022 FCC order (FCC 22-12) bans exclusive and graduated revenue-sharing arrangements for covered providers and permits exclusive marketing arrangements only with clear tenant-facing disclosure; the FCC's 2024 bulk-billing opt-out proposal was withdrawn in January 2025, and bulk billing remains permitted federally; and in California, AB 1414 (effective January 1, 2026) gives residential tenants an opt-out right from lease-mandated internet charges, with an HOA/condo carve-out. This is general information last reviewed July 2026, not legal advice — how any of it applies to your property is a question for your counsel.
Put connectivity on this quarter's agenda.
One form, a few documents, and a written report in two to three weeks. The initial review is complimentary.