The top things tenants or potential tenants look for before renting is affordability and security. People want to be able to live in a place that they know is safe and reliable. Even though every multi-family property may differ, one thing stays the same, security of your tenants and property. There are ways to increase your ROI by making sure your property, employees, and tenants are safe.
Using access control with video for building entrances
Tenants take much interest in how the rental property is secured. It is also proven that not only is this in high demand, but tenants will make higher rental payments for this security. Being able to visually identify people, helps prevent the accidental entry of burglars. Voice only intercoms run into many problems and can devalue the property’s access control. Utilizing a more advanced access control system can directly relate to the rent rate. The increased rental rate will not only cover the installation of your new video system but cut costs and increase profits.
Using keyless smart door locks
Door locks can be one of the first things a tenant looks at when visiting your property. Using smart door locks increases the monetary value of your property, and hopefully the rental rate too. Many millennials are looking for apartments with keyless entry and will pay more for these upgrades. Generation Y will pay 61% more in rent due to its specific electronic access features. Using battery-operated door entry also helps protect when there is a power outage or other security breaches.
Using system health checks for your surveillance
You can’t have great security without properly running equipment. System health checks ensure that they stay in working order so they can catch problems early on. There is no doubt that tenants from every generation need and want security. Video surveillance fills the needs of security and can multiply the value of your property. Many multi-family properties were able to raise rental prices after installing a proper video surveillance system.
Most properties install security to protect their assets and tenants. Finding the right security systems to incorporate on your property will increase your ROI and help uphold the dignity and reputation of your entity. It will also decrease crime and liability while ensuring safety for your property, employees, and tenants.