---
title: Apartment Vacancies Hit Record High. Owners Seek Levers That Actually Move NOI. | Elauwit Connection
description: Convert existing buildings to gigabit WiFi with zero upfront cost. NaaS delivers fast installs, reliable performance, NOI lift, and hyper-personal support.
---

[Network Services and Managed Wifi for Apartments | Elauwit Connection ](https://www.elauwit.com/resources)

# [Apartment Vacancies Hit Record High. Owners Seek Levers That Actually Move NOI. | Elauwit Connection](https://www.elauwit.com/resources/apartment-vacancies-hit-record-high-owners-seek-levers-that-actually-move-noi)

 Written by [Katie Hayward](https://www.elauwit.com/resources/author/katie-hayward) | Dec 2, 2025 6:21:29 PM

The multifamily numbers this winter are straightforward.

➜ Vacancies are sitting at a record **7.2%**.  
➜ Rents slipped another **1%** in November and are now **5.2%** below the 2022 peak.  
➜ A growing share of young renters are not forming new households. CoStar notes **32.5%** of 18 to 34 year olds now live with family.

## **What this supply wave really means for owners**

Construction starts are slowing, but deliveries are still hitting the market at the wrong time.  
[Yardi](https://www.yardi.com/news/press-releases/u-s-multifamily-supply-up-rents-down-in-revised-yardi-matrix-forecasts/) increased expectations for 2025 and 2026 supply by **6.8%** and **2.5%**.  
Demand is shaky and leasing teams feel the pressure.

The industry is relying on concessions, building upgrades, and operational efficiency to stand out. Some help. Some do not.

## **Most upgrades do not move NOI in a meaningful way**

Fitness centers photograph well.  
Package lockers help staff.  
Smart tech automates small tasks.  
The impact on revenueis usually marginal.

Connectivity is different.  
Renters treat internet as a daily utility and leasing teams view it as a deciding factor. Owners get reliable recurring income from it.

# **Why Network-as-a-Service is pulling ahead**

Owners want three things:

- **Stronger renewals**
- **Better NOI**
- **Faster stabilization**

**Network-as-a-Service (NaaS) supports all three** and does not depend on rent growth. The model is gaining ground across every segment from mid tier regional firms to large institutional owners.

### **1. Capital is tight. NaaS avoids the upfront spend.**

Traditional ISP upgrades require capital.  
Network-as-a-Service avoids this. **Elauwit funds the fiber build **and delivers gigabit service in every unit.  
Owners pay a predictable monthly service fee.

The approval cycle is shorter and projects move faster.

### **2. Renters choose buildings with better connectivity**

When buildings look the same, internet becomes the visible differentiator.  
Average US renters pay **$79/month for retail internet.** [Parks Associates](https://www.prnewswire.com/news-releases/parks-associates-nearly-one-in-five-multifamily-residents-with-home-internet-receive-gigabit-or-faster-download-speeds-302563873.html) reports roughly **40%** of renters prefer included or bulk models.  
Properties that deliver real gigabit internet see fewer complaints and stronger renewal potential.

### **3. NOI uplift that shows up immediately**

NaaS creates** dependable revenue.**  
Owners see **200 to 300 basis points** of NOI improvement.  
**Opex is lower** because the entire property stack runs on a single managed network. That includes cameras, access control, HVAC IoT, and staff systems.

### **4. Support that does not fall onto your team**

Internet issues usually show up at the leasing office.  
Our support structure removes that burden.

➜ Residents get hyper-personal support (**we** **answer each call in under :30 seconds**), and access to local technicians.  
➜ Property staff get a network that simply works.

# **Why owners are choosing Elawuit instead of traditional ISPs**

The market has many connectivity vendors.  
Owners tell us the differences are clear.

### **1. We’re the only publicly-traded company* focused* on multifamily WiFi.**

Public reporting gives owners confidence in long term stability, performance, and operational discipline.  
We’re an easy choice when it comes down to peace of mind.

### **2. We’re built for existing buildings.**

Many ISPs prefer greenfield development.  
**Elauwit specializes in retrofitting existing assets** from the 1970s through today.  
The installs are fast, clean, and designed for occupied buildings.

### **3. We stay personal.**

Operators want a partner they can reach.  
Residents want support from an actual person.  
Owners want predictable results.  
That is the work we prioritize.

# **A market with rising vacancies needs levers that work**

When rent growth stalls, the portfolio strategy has to change.

Owners look for upgrades that protect revenue, reduce friction for staff, and give residents a better experience. NaaS fits that equation.

If you are navigating the market conditions outlined above, **we can help you review whether Network-as-a-Service is a fit for your portfolio.**

[➜ Get Started](https://elauwit.com/get-started/)

**Sources:****  
** [CNBC Property Play](https://www.cnbc.com/amp/2025/12/02/apartment-rents-vacancies-november.html) reporting by Diana Olick (Dec 2025).  
Data cited from Apartment List, CoStar, and Yardi.

[View full post](https://www.elauwit.com/resources/apartment-vacancies-hit-record-high-owners-seek-levers-that-actually-move-noi)

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