When it comes to luxury, security systems are easily becoming popular for residences of all sizes. This growing trend involves numerous Georgetown, rental property owners wondering if they should install security systems in their properties, too. Unlike older, high-cost security systems, new technologies have created efficient, low-cost options for residential property owners. But does your property need a security system? To reply to that question, it’s vital first to learn both the pros and cons of installing one.
Going by the numbers, you might be surprised at the number of burglaries that are in your area. Statistics show that home burglary is happening every 13 seconds in the U.S. – that’s nearly 6,000 home burglaries per day. And contrary to common belief, 59% of these burglaries happen during the day, when the residents are away at work.
Undeniably, crime rates vary from location to location and even from one neighborhood to the next. There is a small number of burglaries in some places, while in others, they seem to happen regularly. Still, it’s important to remember that burglaries can and do happen even in “safe” neighborhoods. Just because there hasn’t been a recent burglary nearby does not mean that it couldn’t happen in the future. This is especially true in new or developing areas, where the population is increasing rapidly.
With just over 30% of homes in the U.S. with a security system, it’s worth taking a moment to consider if it is reasonable for you to add one to your rental property. One of the most obvious benefits of having a security system is the increased sense of security. Lots of burglaries involve some property damage, such as broken windows and door locks. And the sad fact is that people are sometimes hurt or even killed during burglary attempts.
Having a security system might help you lower your insurance costs and attract and maintain safety-conscious tenants. Many landlord and renters insurance providers offer discounts for properties with a security system, which may help offset the cost of the system itself. Apart from enticing quality tenants, some of the reasons behind this are that all types of home invasions often result not only in damage and the loss of personal property but of your tenant’s peace of mind as well. If you can offer your tenants the added measure of a security system, they will prefer to stay in your rental property. When a tenant feels safe, they are also more likely to do other things that help safeguard themselves and your property.
Then again, security systems do come with a few potential disadvantages as well. One of the major concerns for rental property owners is the cost. To install a security system, you’ll need to budget not only for the initial installation costs but also for monthly monitoring fees.
In general, these costs can add up quickly. Still, there are less expensive options in home security systems these days. Yet, these inexpensive systems are often more vulnerable to theft. There is no guarantee that your tenant won’t try to take their video doorbell or other devices with them when they choose to move out.
At last, it’s necessary to consider tenant privacy before deciding to install a security system. Some tenants may find the thought of security alarms or cameras invasive, especially if they don’t have control over what type of system it is or who might be monitoring it. The same applies to property owners who plan to pass the security system’s cost off to their tenants. Tenants may not want to pay for it or may even cancel monitoring services, putting your property as vulnerable as if you never installed the system in the first place.
Do you still have questions about the best security measures for your rental properties? We can support you! Our Georgetown property management professionals have the information and expertise to make that decision easier. Contact us online or give us a call at 302-313-7700.
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