Tips to Keep Your Home (And Investment) Safe
Tips to Keep Your Home (And Investment) Safe
Aside from offering a well-maintained and habitable apartment to renters, landlords must also strive to keep the rental property safe. Your goal as a landlord is to optimize your rental income, and providing security will help you achieve it.
Not only will strengthening your rental security make it less likely that your property is left vacant, it can help reduce the potential stress in the future. Following are some best practices you can take on to safeguard your apartment.
Secure the Main Entrances
Ensure the apartment’s main doors and access points are secure. Invest in solid locks, such as deadbolts and keyless door locks, as they’re more challenging for intruders to bypass. Purchase durable doors made of metal or solid wood to make it harder for outsiders to barge inside the apartment unit.
When a renter moves out, it’s recommended you replace the locks or reset the digital door lock, especially if they were evicted. This will prevent previous residents from re-entering the unit.
Be Aware of Your Rental’s Location
Picking a real estate location is a vital decision that requires plenty of consideration. It’s often recommended to pick an area that is near schools, parks, and other attractive amenities. Research the locality well to stay aware of potential infrastructure developments in the area and how they may impact your investment property.
Implement effective security measures in your apartment to protect your renter and your property. For instance, you can install security cameras and motion sensor lights. You may also want to review the following:
- Window security. Do the windows have sturdy locks?
- Exterior lighting. Are there any dark areas outside your building?
- Foliage. Are there any trees or bushes thick enough to hide someone? You can reduce potential risks by trimming branches and minimizing bulky decors.
Setting up a solid security system will attract more potential tenants to your property, and will help you keep your investment safe in the long run.
Perform thorough tenant screening to find trustworthy renters that will abide by the security policies and will help keep your apartment safe.
Conduct Regular Property Maintenance
Create and implement a maintenance schedule, and conduct regular property inspections. This will help you catch potential issues early on. If you spot any weaknesses, you’ll be able to take the necessary steps to strengthen the safety of your unit.
You might benefit from employing the services of a trusted property management company. They can help you keep your apartment up-to-date and secure.
Promote Your Rental Property’s Security
Advertise the safety of your apartment place. Mention that you have a robust security system when appropriate, and display signs outside the unit to inform potential trespassers that you have an active security system in place. This will help deter people from entering your rental space.
Just remember to always avoid being specific about the brand or model of your security features. You don’t want to give anyone information they could take advantage of.
Create a Checklist
A great way to monitor your unit is to create a checklist and keep it on hand. You can keep track of every feature that needs to be regularly inspected and pay the property insurance on time, which ensures added protection at all times.
Keep Your Insurance Up-To-Date
You want as much protection for your rental investment as possible. Find insurance coverage that includes property damage and destruction. Research the various options from different companies thoroughly. Read the fine print of policies and terms to ensure your apartment is covered in the event of any weather events or disasters.
Nurture Good Relations with Neighbors
Neighbors can help keep an eye on your rental property and alert you if there are any strange happenings. If additional assistance is ever needed, good neighbor relations can also result in aid arriving quickly.
Engage the Services of a Property Management Company
Hiring a professional property manager to supervise your rental investment is a great strategy. They have local expertise, resources, and advanced systems and technology. They’re also able to deliver consistent property maintenance, detailed tenant screening, effective marketing, and efficient rent collection.
Property managers can vastly reduce your stress and provide peace of mind. You’ll be able to focus on other matters and won’t need to juggle every maintenance task. Property managers can also respond swiftly to tenant requests and resolve complaints.
Things to Consider before Deciding to Upgrade Security Systems
You should always inform your tenants before changing the locks or replacing any security systems. Failing to do so may cause landlord-tenant conflicts or even legal issues. Make sure to disclose your plans, ask for the renters’ consent, and remain compliant with the law.
If you’re planning to upgrade your security measures during a tenancy, you can include your plans in the lease agreement as an addendum. Then, have the contract signed by both parties to show you agree on the matter.
However, the best time for landlords to update their security systems is at the end of a tenancy, when the apartment has been vacated, as it won’t inconvenience the resident.
Following the above tips can help maintain the safety of your property and renters. Keeping your rental property well-maintained and secure can help you attract and retain long-term tenants. However, if your time is limited, you can always hire a third party to maintain your property.
If you’re looking for a reliable property manager offering a wide array of superior property management services, contact B&R Property Management today!