Five Reasons a Security System Increases Lease Value

With the rise in violent crime such as burglary and home invasion, there is no shortage of stories about the rise of violent crime in apartment buildings splashed across the newspaper and television screen every day. Without doubt, renters who feel safe are more likely to sign a lease or buy a condo; however that is only half of the battle. In a recent article in Apartments.com, “97% of the people that took the survey said that when they look for an apartment, crime rate plays a significant part in where they choose to live.” Still, the question remains: how does a property manager or owner combat concern about crime?

The most easily identified way to ease renters concerns over safety and security is the installation of an internal video surveillance system, such Safe Lobby by Video Doorman. By installing a Video Doorman video security system, many managers and owners experience benefits including:

1.Minimal cost. The number one disadvantage for most property managers and building owners is the cost. At about 50 cents per day, Safe Lobby, by Video Doorman offers integrated security systems with live operators and video surveillance services to monitor the events of the building.
2.Lower insurance rates. Many insurance companies recognize the benefits of security alarms and video surveillance protection by rewarding owners with price breaks.
3.Decrease in unwanted access and loitering. From domestic disputes to criminal activity, security access systems and alarm systems give that added advantages of approved traffic flow. When residents are able to allow approved traffic and disallow troubling visitors, they feel more in control of their safety and security.
4.Higher occupancy and retention. In the recent years, it is hard to find anyone who has not moved at least once. By increasing the sense of security with video surveillance and alarms systems, turn over will be less due to the largest concern by renters today: safety. Providing them a safe place to live and raise their children will give returns of higher overall occupancy and improved retention.
5.Higher rent. As a selling feature for increasing rent or higher rent, security is top on the list of concerns among renters because many potential leasers equate safety with a doorman in New York City.

The National Crime Prevention Council recently stated that multi-family buildings are 85% more likely to be victimized by crime than other types of housing. In the past, safety in numbers guarded against a multitude of home invasions and other violent crimes. In fact, safety in numbers is the reason that cities were established in the first place! A good video surveillance system can make each apartment building safe again.