How Building Security Services Add Value to Residential Complexes
If you’re thinking of ways to raise the value of your residential complex, building security services should be at the top of your list.
Building security services provide tenants, property managers, and building owners with benefits that increase property value. Why?
Safety is a key driver for our behavior.
Urban areas across the United States have a high property crime rate, according to the FBI.
The need to feel safe is a huge factor for tenants looking for housing. The increase of crime and violence, especially in urban areas, make this an even bigger deciding factor for tenants looking to sign or renew a lease.
There’s a good reason why gated communities are able to charge the premium for rent. Fortress America, a book about gated communities, talks about the security value these communities offer.
Property managers can do a self-assessment to find out how well your current security measures work.
A self-assessment is a great start. But professional building security services give you a security upgrade. They offer a protective barrier between tenants and the community at large.
Safety is just one reason adding building security services to your residential property is a good idea.
However, one roadblock many property managers face is gaining approval from board members for the cost of building security services.
One way to sell security services to the board is the be clear on the benefits and ROI building security will deliver.
Support & Save on Your Marketing Efforts
Want to attract more tenants? Contracting building security services is a smart way to do it.
For many people, personal safety is a primary factor driving decisions about where to live.
Marketing the security of your property is key to a good marketing strategy.
In an emergency, tenants want to feel there’s someone on site who can help until first responders arrive.
You can also save on advertising costs for attracting new tenants.
Properties with a good security presence tend to have a lower tenant turnover rate. Happy tenants are likely to stay longer. And, they’ll share their positive experience with others.
Word of mouth referrals have a bigger impact than any other type of advertising.
A whopping 92% of people say they trust family and friends more in making buying decisions. That includes deciding where to live.
On-site security guards are a great selling point. Seeing security guards at the entrance gives residents a sense of comfort.
Building security services can provide other perks. Things like delivering packages, enforcing parking rules, and or monitoring events. These perks are convenient. And convenience sells.
When you take care of your tenants, you’ll have fewer vacancies to advertise.
Boost Your Bottom Line
Looking for ways to increase rental rates? Properties with security services and gated communities can charge higher rental or HOA rates for added security.
Building security services give the appearance of a more upscale community and create a higher perceived value.
Security services prevent vandalism and help property owners maintain high property values.
Security can also help you save on insurance premiums.
Burglary on your property creates potential liability. If a tenant can show you were negligent in providing security measures, you may be legally responsible for crimes committed on your property.
The FBI reported over $14 billion in financial loss from burglaries alone. It’s a high dollar problem.
Having security services monitoring the property shows your commitment to the security of your tenants. And it could avoid possible litigation.
Using building security services also controls vandalism and other property damage. The services help you manage losses now to avoid future pain.
Know your security risks and get an assessment. A building security services agency can do a risk assessment to determine your vulnerabilities.
Building security services protect your investment. They also protect the investment of stakeholders and investors who have a vested interest in seeing their investment grow.
And it helps for owners who want a great return on their investment should they decide to sell.
Prevent Disasters Waiting to Happen
Being proactive in protecting your income property and its residents is a good management strategy.
On-site security services will reduce crime on residential properties. The presence of a security guard is a deterrent for burglars and other criminals.
We hear daily news reports about various types of crimes. People are naturally concerned about personal safety and property theft.
It’s a good idea is to have a security agency do a comprehensive risk assessment for your property.
Property risk assessments cover some of the following issues:
- Accessibility to vacant units
- Threat level of access to complex
- Lighting in parking lots and secluded areas
- Security of unit locks system
- Security of windows and other modes of access
- Areas of vulnerability
- Security of valuables
- Functionality of fire detection system
Taking the steps to secure the property will contribute to lower crime and accident rates.
And that’s a very welcome perk. Prospective tenants have expectations of being safe and secure. That’s why having security services at your residential complex helps tenant retention.
Your building security services will proactively alert your tenants about dangers in the area.
Building security services provide monitoring to detect any suspicious behavior. And they provide fast alerts in case of emergencies. These alerts reduce response time for first-responders.
Tragedies are unexpected. Find a security agency that can provide fire watch services when your detection system is down. They can also monitor incidents like break-ins and domestic violence
These preventions can help you save lives and minimize property damage.
Virtual and on-site surveillance services are especially helpful when tenants are not at home. A good security agency will customize building security services for your property’s specific needs.
Develop a Culture of Wellbeing
Some residential properties have a long waiting list. Others work hard and spend a lot of advertising dollars to get some foot traffic. Ever wonder why?
The successful property creates a customer service experience for tenants that adds to the quality of their life.
A superior security services experience will help you to create a culture of wellbeing among your residents. This is a huge benefit to having building security services.
Great security agencies raise the bar on your property security. They go above and beyond what is expected.
Friendly security guards who are service-minded are an asset. Here are some ways they can provide a customer service mindset:
- Greet residents warmly
- Help carry packages or groceries
- Respond quickly to all requests
These services set your property apart from others.
Look for building security services who are customer-service oriented. They will provide the personal touch that builds trust and goodwill for the property owner and manager.
Security guards who are trained and certified are knowledgeable about how to keep your property and residents safe. They may require guest registrations or residence verification.
Monitoring patrols can catch issues with malfunctioning equipment or other potentially dangerous issues.
That kind of information can save you money in the long run.
Reduce the Risk and Increase the Value
You’ve spent a lot of time and money on your income property. You’ve probably worked with managers, financial advisors and other professionals to upgrade the value of your investment.
Keeping your residential complex running smoothly is a big job. It requires a lot more than just collecting the rent. There are so many things that can happen to put you in a bad situation.
Not all security issues are caused by outside elements. Many times they come from the residents themselves.
Property managers face many problems from having to evict tenants to dealing with property damage.
Using building security services protects your residential income property investment. It gives you on-site support for the unexpected.
Anything can happen. One apartment complex resident threw a sofa out of the window, breaking another resident’s window. Luckily, no one was hurt.
Another resident vandalized the property after being evicted and caused damage over $10,000.
Police are often slow to respond to such issues. On-site security guards make life easier for property managers.
Beyond issues with tenants. protecting your investment means keeping your property value up.
A study by the Center for American Progress found that lower violent crime rates increased property values by billions of dollars in eight U. S. cities.
Certified security guards are trained professionals. They are ready for any situation from lost pets to lost valuables. But more importantly, there are many situations where they save lives.
A project called Operation Partnership was developed to learn better ways for law enforcement and private security guards to work together to keep communities safer.
Hiring Building Security Services Makes Sense
Managing an income property has its risks. From bad tenants to bad plumbing, you will face a lot of challenges. But one of the greatest risks is failing to invest in building security services.
The safety of your residents is crucial. Don’t leave that last box unchecked. The benefits greatly outweigh the investment.
OPS Security Group can provide a variety of on-site and virtual building security services for your residential complex.
For a consultation or if you have any questions, contact OPS Security Group here. We’ll be happy to help you with all your building security services needs.