Marketing agreements
Telecom marketing agreements: the rev-share you have vs. the bulk deal you're giving up.
A marketing agreement pays you a check every month for doing nothing. It feels like found money. It is also, quietly, the document that caps the far larger deal sitting underneath it — and most owners never run the comparison.
A telecom marketing agreement is the easiest telecom money a property ever earns. The provider gets the right to market to your residents; you get a door fee or a share of the revenue those residents generate, deposited without a single hour of effort on your side. Nobody reopens a contract that pays them to leave it alone. That is precisely the problem — the agreement is doing its job as an income line while it quietly does a second job you never agreed to.
The second job is capping the upside. In a marketing agreement the provider owns the customer relationship and sets the retail price; your slice is a fraction of their number. A bulk conversion inverts that: the property buys connectivity wholesale for every unit and earns the full per-door margin, on every door, whether or not a given resident would have subscribed retail. The recoverable spread commonly runs $25 to $35 per door per month against a retail baseline. The rev-share check you cash is real money; it is also a fraction of what the same building would earn restructured — and the delta is the entire story of this page.
Worse, the marketing agreement is often the thing standing in the way. An exclusive marketing agreement can bar a competing bulk deal outright. A non-exclusive one frequently carries an anti-bulk covenant tucked into a restrictions section, and an auto-renewal or evergreen clause that quietly extends that restriction year after year. The document paying you a small amount is, in many cases, the same document blocking the large one. You cannot see the trade until someone reads both halves of it.
| Dimension | Marketing / rev-share | Bulk conversion |
|---|---|---|
| Where the money comes from | A door fee or a slice of the provider's residential revenue | The full per-door margin on every unit, whether or not a resident opts in |
| Who sets the price | The provider — you earn a share of their retail rate | You — you buy wholesale and price the resident amenity |
| The ceiling | Capped at your share; upside accrues to the provider | The wholesale-to-retail spread, commonly $25–$35 per door per month |
| What it does to value | A modest, variable line that's easy to overlook at sale | Recurring NOI — each dollar worth roughly $18 at a 5.5% cap |
How Tenalytics reads it
Both halves of the agreement, priced.
Tenalytics reads the marketing agreement you have, values the income it produces, prices the bulk conversion it may be blocking, and surfaces the exclusivity, anti-bulk, or renewal clause that decides whether the trade is even available — each cited to its page.
Every number traces to a page and a paragraph. No black box.
The delta, capitalized
Why the small check hides a large number.
The rev-share is a slice of the provider's revenue. The bulk margin is yours on every door. The difference — capitalized at your cap rate — is what the marketing agreement is really costing.
Rev-share today
A slice
A door fee or a fraction of the provider's retail revenue — capped, variable, easy to miss at sale.
Bulk margin instead
$25–$35
Per door, per month, on every unit — the recoverable spread against a retail baseline.
Capitalized
≈ ×18
Each recurring dollar of margin is worth roughly eighteen dollars of value at a 5.5% cap.
Put your own door count and current income into the revenue calculator and the delta stops being abstract — it becomes a number you can take to the asset's underwriting.
Marketing agreements, answered.
- What is a telecom marketing agreement?
- An agreement in which the property grants a provider the right to market its services to residents — sometimes exclusively, sometimes not — in exchange for a door fee or a share of the revenue those residents generate. The provider still bills residents directly; the owner earns a slice. It reads as low-effort income, which is exactly why the larger opportunity underneath it goes unexamined.
- How is a marketing agreement different from a bulk agreement?
- In a marketing agreement the provider owns the customer and the price, and pays the owner a share. In a bulk agreement the owner buys connectivity wholesale for every unit and captures the full per-door margin. The bulk structure typically earns multiples of what a rev-share slice returns, because it monetizes every door instead of only the residents who choose to subscribe.
- Is a marketing agreement blocking my bulk upside?
- Often, yes — and not always in the way you'd expect. Exclusive marketing agreements can bar a competing bulk deal outright, and even non-exclusive ones frequently carry an anti-bulk covenant or an auto-renewal clause that extends the restriction indefinitely. The agreement that pays you a small check each month can be the same document that caps the large one.
- How do I quantify what I'm giving up?
- Compare the rev-share income you receive today against the per-door margin a bulk conversion would earn on the same building, then net the difference and capitalize it at your cap rate. The calculator gives you a first-pass estimate of the bulk side in about a minute; a report reads your marketing agreement and prices the delta against its actual terms.
Your first report is a trial run in disguise. Standard and Deep-Dive reports from the last 60 days credit in full toward your first subscription invoice — applied automatically at checkout.
This page is general information, not legal advice.