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Posted almost 10 years ago

Theft Prevention During Your Investment Property's Open House

Small 1402342844 Investment Property Theft PreventionIn today’s competitive market, things can get a little crowded. Whether you’re selling a property or showing a rental to prospective tenants, the risk of theft is real when you have to show an occupied property.

Instead of waiting for a thief to strike, the best thing property managers and real estate investors can do to insure that both your tenants and your property are protected is to have systems in place for theft prevention.

An open house showing of your investment property can be a wonderful way to bring in a lot of interested parties to fill an upcoming vacancy. Whether the current tenant’s furnishing are still in the property or you have it furnished in some way, an open house is also prime time for someone unscrupulous to take advantage of a busy time and make off with someone’s valuables.

So how can you make theft prevention a priority for your investment property?

Theft Prevention Strategies

HAVE VISITORS SIGN-IN

This strategy is good not only for narrowing down serious would-be renters from the window-shoppers, but it will help you work with law enforcement should a left occur. When holding an Open House, require all visitors (being selective is profiling and can lead to Fair Housing Act violations) to sign their name and provide some sort of ID to confirm.

At the end of the day, it’s good insurance to prevent thieves (or catch them) as well as a tangible list of how many people attended your open house, which can help you make changes for the next one if you aren’t happy with the numbers.

MAKE SURE VALUABLES ARE OUT OF SIGHT

If your current tenants are still in the property, be sure that they’re given proper notice about any open houses or showings. Encourage them to lock up or hide their valuables before the showing — jewelry, precious china, expensive electronics and credit card statement or other important documents. Leaving these things out is just a temptation that thieves don’t need.

GET AN EXTRA SET OF EYES

When showing a property, it may help to have another member of your property management team or someone you trust to help keep track of visitors. While one may focus on showing the property off, the other can keep a watchful eye on others and pinpoint wanderers or suspicious behavior. They can even pretend to be a visitor themselves.

REMEMBER TO LOCK UP

While a theft may not occur during the property showing, someone may have been casing your investment property while it was going on. When the event is over, double-check windows and all external doors so that they’re locked up tight. A thief planning to return may try to unlock or open entrances during the open house so that breaking in later will be easy for them.

Encourage your tenants to be vigilant and ask neighbors to keep an eye out for suspicious activity.

How do you prevent theft on your investment properties? Share with us in the comments.

Would you like to learn more about investing in other markets?


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