What does a tenant look for in a rental property besides comfort and an understanding landlord? The answer is, “Security.” More than anything else, every tenant looks for security. As a landlord, you need to secure your rental against everything that can harm your rental, as well as your potential tenants.
As a landlord, your job description is pretty vast. You have tenants to look after, rent to collect; screen potential tenants as well as repair and look after other maintain issues around the property. However, the most critical job of any landlord is the security maintenance of the property. Tenants look up to the landlord to keep themselves and their belongings safe in the rental property.
When it comes to the real estate market, the reputation of a rental and its landlord is very crucial. Whether you are a good landlord or a bad one, the word will get around, and the market will know about your good or bad reputation eventually. So, make sure you do enough to secure your property as well as your tenants.
If you are looking for recommendations to make your property secure and safe, you have come to the right place.
External Lighting:
Rentals do have streetlights; however, they may not be enough to illuminate your rental properly. Inadequate light can pose a danger to your rental, your tenants and their belongings. Thieves and robbers take this opportunity of inadequate and insufficient lighting to break in your rental and rob you.
Adding proper lighting around the exterior of your house increases security. A well-lit rental is hard to break in. Proper lighting not only increases safety but also boosts the overall value of the property. Any potential tenant, seeing the proper lighting, will understand that you take the security of your place very seriously.
Apart from adding lighting, you can also explore smart lighting options, such as sensor lights. Sensor lights activate even with the slightest movement. Burglars and unwanted guests don’t even stand a chance. Tenants can get alert as soon as the lights go off and investigate the source of the commotion.
Smart lights are a good investment; they not even add security to your place but also help you save on energy bills by going off at the crack of dawn.
Insurance:
Most of the time, we don’t even contemplate the accidents that might come our way. Flooding, earthquake, fire and tornadoes are such elements that no landlord can control. The prevention of such accidents may not be in our hands, but the after-effects can be something that we can control with proper proactive steps.
These natural disasters can’t be prevented, but taking out insurance of your rental will help you clean up the after-effects of the natural disaster. An investment policy not only gives your financial aid but also helps you with removing debris and cleaning up after the disaster. Apart from that, an insurance policy also counsels the landlord and gives assurance to the tenants.
Security System:
What adds the ultimate security to any rental? The most common answer is security cameras and installations. Cameras and security installations are a great way to attract tenants. A home security system may seem like an extravagant expense, but it’s a great long term investment that not only gets you better tenants but also keeps your place safe and secure.
Take doorbell cameras; for instance, they are great and are also highly appreciated by tenants. All smart homes nowadays have doorbell cameras that let you see who is on your door and also let you open doors without getting up. With high-tech security cameras, you can add features like remote surveillance and carbon monoxide detection.
If you are reluctant to add high-tech security because your rental isn’t a luxurious one, you can always go for a lower package with basic security options. Packages vary according to your budget; a basic one gives you the option of single-service theft monitoring. In contrast, a medium one gives you mobile access and notifications, along with single-service theft monitoring. If you opt for a premium package, you can have 24/7 surveillance. If you think about adding security but are reluctant because of the cost, you can add the expense to the rent money. Raising the rental rate after increasing security is a prevalent practice.
Tenant Screening:
One of the biggest challenges that a landlord faces is the screening of the tenant, who you choose as your tenant plays a huge role in the security of your house. Most of the time, landlords worry about external issues like thieves, floods, earthquakes and other natural disasters, but they forget that there is a bigger danger that can pose a threat to their rental. That threat comes from the tenants they take on.
Not screening tenants properly can cause significant damage to your property. Apart from wear and tear that comes with every tenant, there are also illegal activities that you might have to answer for in the future. Do not rely on judging the character of the tenant and simply accept them on the basis of a formal interview. Make sure you get a proper screening done with a financial and background check. A background check tells you a lot about a person and how reliable they are. Similarly, a financial report helps you see whether they can afford the rent, will be able to pay it on time as well as whether they are in any kind of debt or not. Many tools can help you get information on your potential intern; apart from that credit report, criminal history and references and recommendations from the previous landlord, are also crucial.
Your rental is your vital source of income; hence you should take every possible protection to secure your rental against any external or internal threat. A secure rental also increases the occupancy rate, helps you increase the rental rate, and attracts better tenants.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
