If you own a residential apartment in Jersey City, you have every right to be concerned about security issues. Jersey City has a property crime rate that is almost 10 percent higher than the New Jersey average.
If that isn’t bad enough, Jersey City also has a violent crime rate that is an incredible 96 percent higher than the state average. With crime being such an issue, potential renters may be concerned with living in an unsafe area, especially if it is going to cost them.
How can you ensure you earn enough money to offset the costs of owning a property?
If you want to improve lease rates for your building, you need to invest in residential security services for your Jersey City property. Read on to discover how residential security can improve the lease rate of your property.
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Renters Will Pay More for Residential Security
As mentioned above, renters will be hesitant to rent property in an area or building where they feel unsafe. However, if you provide them with a variety of security options through a qualified company, they will feel much more secure.
In fact, it isn’t surprising that renters in an area with a high level of crime will be more than willing to pay more for residential security. They want peace of mind so they can rest at night without the fear of being robbed or losing their property in an arson attack.
Decrease the Chances of Property Damage
Residential security through the use of a professional company means that you have round the clock security through either security guards or remote surveillance.
With identifiable security guards or even cameras around your property, you’ll find that criminals will be less likely to commit any property damage, including vandalism and arson. This is because just having signs of security present will act as a deterrent to troublemakers.
When considering areas that could be affected by vandals, don’t forget about the often overlooked areas such as pathways and car parks. These are often the places where the most property damage takes place.
So, how will a security service work around this problem?
When you hire a quality security service, they will get their security guards to patrol every inch of your property to keep it secure. In fact, they will even consult with you to find out where they need to patrol and when.
By decreasing the chances of property damage, you can ensure that your lease rates can stay the same or even improve over time. In contrast, if your building sustains damage over time, this can actually decrease its value.
Therefore, if you want to keep property damage to a minimum, you need to consider hiring a professional security company.
Deters Troublemaking Renters
Through hiring security with a professional company, you will be creating a certain positive image for your building. For example, it will increase the likelihood of quality residents. In effect, it will filter out troublesome residents.
If you provide security amenities such as front desk concierge, you will be telling potential residents exactly what you expect of them.
But that is not all that you will gain.
You will also attract residents who value these types of amenities over cheaper rent, which will translate to better lease rates.
Security Increases the Value of Your Property
You may not realize it, but providing security to your residents can actually increase the overall value of your residential property. This is due to the fact that security is seen as a valuable asset which is attractive to a lot of renters, especially if the property is in a high-risk neighborhood. How does this work exactly?
It’s all about supply and demand.
The lower the supply of secure properties in one high-risk area, the greater the demand will be for them and the more people will be willing to spend for it. You can provide for these demands by investing in security and you will reap the rewards.
Keep Renters for Longer
It’s no secret to any property owner that renters, particularly in high-risk areas, have a very high turnabout. This leads empty apartments or flats and a loss of money for you.
One of the biggest problems facing renters, especially in terms of security, is problems with their neighbors. However, if you provide your residents with a sense of safety and security, they know they can sleep at night feeling secure in their homes.
This is because, security, for instance, will discourage troublesome residents from renting the property, thus encouraging an overall sense of security.
What Type of Security Can Increase your Lease Rates?
There are a few ways you can utilize security in order to keep your rates high.
1. Front Desk Concierge
By hiring professional concierge security, you can be sure that your residents have peace of mind. However, front desk concierge not only provides protection, but they also provide reliable day to day services for your renters.
These services include signing for packages, helping to carry groceries for residents and making replacement keys. So, not only can you charge residents extra for security, but also you can justifiably charge more for these additional services too.
2. Virtual Concierge
Sourced locally from a command center, the virtual concierge provides 24/7 protection for your renters.
This means that if there is an after-hours security emergency, they can send emergency services to the property such as ambulances and the police, as well as grant remote access to the building.
A virtual concierge can even let residents into the building if they have been locked out. This added sense of safety and security is something that any renter would be willing to pay extra for.
Hire a Residential Security Company and Watch Your Lease Rate Soar
Let’s face it, renters want security and they want it badly. If they’re living in a high-risk neighborhood, this need increases tenfold. Give peace of mind to your renters and future residents by providing them with security from the experts in the business.
For more information or to see what kind of security we can provide for you, contact us today!