A rental property, for instance, an apartment complex, is a good source of income. But it may only take one security issue for all your tenants to opt out of renewing their leases. Worse, they will certainly recount their bad experience to their peers, painting your apartment complex as an unsafe place. And you must be aware that once your reputation is tainted, it could be a struggle for you to recover.
Thus, security risks in rental properties must not be underestimated. Burglary is actually one of the most common risks of owning a rental property — tenants constantly worry about it. That said, if you want to ensure that tenants will always feel safe and cash flow will remain steady, here are excellent ways to strengthen security in your rental property:
1. Secure the Entire Building with Fences
Don’t give burglars the chance to even cross your premises. Have durable commercial aluminum fences built around your building to keep unauthorized persons away. Fences will also discourage scoundrels from entering your property and vandalizing it. Be sure to get high-quality padlocks for the gates, too.
2. Install CCTV cameras
Since almost every commercial and residential complex around the country already has CCTV cameras installed, chances are your property has them as well. But if they’re outdated models, it would be wise to replace them. A newer, more advanced security system can record higher-quality footage, which would be useful in case a burglary or intrusion occurs.
But if you don’t have the budget to replace your current system, try this hack—put security decals all over the place to warn potential criminals that they’re being watched. Burglars are typically deterred when they’re aware of CCTVs and alarms, proving that affordable decals are an affordable way to prevent crime.
3. Perform a Thorough Screening of Tenants
Bear in mind that crime isn’t only perpetrated by outsiders. Choosing the wrong tenant is among the most common security risks of owning a rental property; so, perform a thorough screening before handing out a lease contract. Run a criminal background check on each potential tenant to ensure that they won’t be a threat to your property’s security and reputation.
4. Secure Doors and Windows
This is a no-brainer, but some locks can be easily picked even if they look tough. Hence, also install deadbolts (preferably double cylinder), chain locks, and peepholes on doors. On the windows, install locks even if they’re on the upper floors. Consider security bars, as well, for those on the lower floors. If you’re concerned about aesthetics, a skillful security bar provider should be able to combine the bars’ function and aesthetic appeal.
5. Get Insured
Even if you already have some pretty solid security measures and devices, an insurance policy is still necessary as it doubles the amount of protection. Find a policy that insures the home and its contents, so that your tenants can receive coverage if they’ve been robbed. You’d also be entitled to coverage if your property is damaged by rogue tenants or outsiders.
6. Light Up the Exteriors
Install flood lights and/or spotlights in areas that may be used by burglars as an access point. These are typically the front entrance, garage, backyard, and outbuildings. Light up the hallways inside the building, as well. Consider motion-detecting lights to maximize security.
A safe and secure rental property satisfies tenants and refines your reputation, resulting in a growing income stream and opportunities for business expansion. Thus, make it a goal to improve your security measures periodically; your investments will guarantee you high returns.