It’s budget season within the property management world, and planning for the new year can be quite the undertaking. Prioritizing what amenities to provide to your tenants, maintenance concerns, rent hikes, third party vendors, you name it, it’s on a property manager’s to-do list. One service to be considered revolves around a basic human need to feel safe and secure. Property security. Often overlooked and under-valued, it can affect your business’s bottom line, and have an impact on your occupancy rate. Tenants place value on their personal safety, and taking steps to increase it could be the determining factor between that tenant choosing your property over the one across town.
We Live in a Nice Area of Town, We Don’t need Security
This is a common misconception. Criminals seek out “nice” communities because they assume the residents have more valuable items than those in poorer communities that are riddled with higher crime rates. Violent crime and property crime are statistically very different. Multi-family communities have higher property crime rates than the average, which is why logically, these properties must be treated differently than single family dwellings. Having a large concentration of population in a small area creates a cesspool for potential criminal activity. Without outsourcing a private security company, like Signal Security, you task yourself or another employee with monitoring guests, parking violations, noise complaints, assaults, and vehicle thefts, just to name a few.
Many of these possible threats to your tenants are easily avoidable, but some are more complex. No two properties are the same, and the threats can differ dramatically from one to another. Having flexibility is important. Threats can change seasonally, or as the influx of new tenants increases. Be sure to keep all of this in mind when determining your security needs.
But Security is Too Expensive
It can be, but it certainly doesn’t need to be. In some cases, an effective visual deterrent might be enough to stifle the threat of crime. If an intruder is casing a property and sees a well-trained, well-positioned officer on the premises, they might simply move on from the property and determine it isn’t worth the risk. One courtesy patrol per night could cost as little as a couple hundred dollars and provide a surprisingly effective deterrent to crime.
Of course, as a property manager it’s part of your job to conduct a cost/benefit analysis. Some communities will require a full suite of service. If your property requires an after-hours pool lockup, door check, alarm response, mobile patrol, and parking enforcement, the cost could run in the thousands per month. However, if having security is the determining factor in having even one tenant lease from you over a competitor, the service has paid for itself. Not to mention the potential costs associated with insurance if a vehicle theft, or burglary were to occur on site.
Peace of mind is something your tenants value and providing it to them can be a rewarding investment.
What’s Next?
It’s important to keep a few things in mind when procuring a private security company, so do your homework. Experience matters, and a reputable service provider will walk through the property with you to better assess your needs. If the estimator never steps out of their vehicle during the assessment, run away…fast. Also, if a company offers a “standard” package, or flat pricing, it’s important for you to question them. Additional services you require, like pool checks and alarm response might not be offered, or are not worked into the “standard” price. Signal will conduct a free on-site security assessment to determine the best service package for you. We keep your budget in mind and will tailor a customized solution that is unique to your business. Click below to find out more about the benefits of outsourcing your security needs.
Click here for pricing and to schedule an estimate. Signal is dedicated to helping you provide peace of mind to your tenants.
We are anxious to hear your feedback! Please take a few moments to comment below on any of the content you’ve read today.
