There are many points to consider when we talk about security systems and your Palmetto Bay rental property. One of the things to consider is the right time when to install a home security system in your rental properties.
Before going ahead with the installation, we must consider many things as well. Do your homework on tenant privacy, cost, and everything in between. The more you know about home security systems for rentals, the better you will be able to decide for your properties.
Installing a home security system may seem like a great idea because this would make the tenant feel more secure in their rental home. However, before a Palmetto Bay property owner decides to install a security system in the rental property, he or she should check every aspect of the situation first.
An important thing to consider is cost. Security companies often use the lure of a low-cost installation to entice you into signing a deal with them, only to have monthly monitoring fees and other expenses inflate the cost. If you wish to install a security system in your Palmetto Bay rental property, you must decide if it is feasible and who will be responsible for paying any related fees. In areas where crime rates are high, what is necessary to keep your property and your tenants out of harm’s way is a reliable security system.
When prospective tenants have different views about the neighborhood, a security system could send a wrong message. Part of the equation is the cost. If you are paying for the security system, this cost must be included in the monthly cash flows. So, if you intend to let the tenant pay for it, make sure they agree to do so before signing the lease. If you simply assume they will pay for it, but the tenant doesn’t want to, you may run into problems.
A security system may be the last thing to occur in a tenant’s mind. It may be because the neighborhood is safe, so a security system seems unnecessary. Or some tenants may lack the technical know-how and struggle using the system correctly and eventually give up out of frustration. You don’t want to install a system that does little to enhance security on the property.
Sometimes, your security system or security company may not be to your tenant’s liking. Your tenant might opt instead to install his or her security measures. Tenants like the convenience of a home security system linked to their smartphone. This gives them a reason to manage it themselves.
Always remember to take into account the issues of privacy. In this day and age, security systems come with integrated cameras. Such systems are affordable but we should remember that it is illegal to take photos or videos in any area where your tenant would have a reasonable expectation of privacy.
When security cameras are placed on the exterior of the rental house, make sure that it shouldn’t capture parts of the property that shouldn’t be captured. It is best to check with the neighbors before installing exterior cameras to ensure that they know and are comfortable with which areas of the property are being recorded.
Lastly, the decision to install a home security system in your rental property must be a balance between the needs of the tenants and your unique circumstances. But you will soon arrive at the best decision for your investment properties after you have considered all the necessary information. Contact us online or call 305-501-1511 to speak with one of our Palmetto Bay property managers today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.