CP27 Generate additional income through utilities and cable contracts with Kevin Gardner

Join me and my co-host, Steve Fierros, as we chat with Kevin Gardner about earning additional income through utilities and cable contracts. Kevin is the Managing Partner of Telecom Marketing Strategies and the Multifamily Utility Solutions. Multifamily Utility Solutions was established to help multifamily property owners with their utilities and overseeing access agreements. The demand for this grew, and now they provide their service throughout the US! In this episode, Kevin shares with us the amazing opportunities you can find when offering services like these.

Looking for New Business Opportunities

With a lot of different businesses in the world, innovating and looking for new business opportunities is not easy. It can be overwhelming for some people to start and provide a service that’s uncommon. Compared to franchising a known brand, the risk of failure is higher. That’s why it takes a lot of dedication and passion to start building your own business from the ground up.

Generating Additional Income through Cable Contracts

Kevin shared some interesting trivia with us. He said that even if multifamily property owners do not pay for their residents' cable, the cable company will still need their permission to be on their property.

That’s where the Multifamily Utility Solutions service comes in. They negotiate with the cable company for you, to get you compensation for giving them the right to be on your property. They help you form the agreement with the cable company. This also helps generate additional income for multifamily property owners. 

There are two types of agreement: the bulk build, and the right of entry. In the bulk build agreement, the owner pays for all the residents' cable. The advantage of this is that because the multifamily property owner is purchasing in “bulk,” the consumers will have to pay less. Instead of paying for the entire cable connection, they will be charged per unit cost. The other agreement is called the right of entry. All you have to do is grant the cable company the right to be on your property. You will not be charged anything, and you will still receive compensation. It’s like hitting two birds with one stone! 

If you have more questions about these agreements, tune in and enjoy the episode now! 

Outline of the episode: 

·        [02:55] An overview of Kevin Gardner’s company.

·        [05:52] The ideal unit size or property size they work with.

·        [10:03] Two types of agreement: the bulk build and the right of entry.

·        [13:52] Educating multifamily owners about the opportunities they can get in having cable and internet property access agreements.

·        [15:34] Be creative and look for opportunities. They’re there if you look hard enough.

·        [17:51] Why is being a subject matter expert in one thing better than having many?

·        [19:28] 30 years of building long-term relationships, improving quality of service, and growing the company.

·        [24:48] What particular asset class provides better opportunities? 

·        [29:51] COVID-19 didn’t have any huge negative impact on Kevin’s business. People are using water, gas, electricity, internet, and cable connections now more than ever.

·        [32:44] Make Elephants Fly, and If it Ain't Broke...Break It!

·        [33:54] The ability to see things, how they connect, and how pieces come together