Thieves....How to stop them!

Multi-Family and Apartment Investing
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Thieves....How to stop them!

Nik S.
OH · Member since 2014 · 454 posts · 227 votes

I just put in a new washer and dryer a few months ago for a 12 unit buidling and things were going great. Tenants were happy with the new machines & I was generating a little more laundry income!

Unfortunately, I just found out that someone has been stealing from my machines. They must have a key to the change compartments and are removing all the change. The machines don't show any evidence of tampering. My PM gave the keys to the older gentleman who lives right next to the laundry room and he will be collecting the change throughout the day, no set times. That solves the problem temporarily as he's always home and is now on the watch for suspicious activity. 

I don't like to rely in individual for things like this so it's my obligation to devise some sort of lock mechanism that covers the key hole of the change compartments. A separate lock mechanism that only I have access to (my PM). 

As you see below, the change compartment is located on the bottom of the whole coin mechanism. It is recessed in the mechanism. To remove the change, you simply insert the appropriate key, turn and pull out. I am thinking I need to "cover" that area with some locked metal but I am unsure as what to devise...

Any suggestions anyone? Has anyone gone through this? 

The picture of the older machine isn't mine however it is setup the exact same way as mine. How can I deter the thieves who have a key to my change compartment?

Thanks all!

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Arlen Chou
Investor · Los Altos, CA · Member since 2014 · 942 posts · 1k+ votes
11y

@Nik S.This is petty robbery so who ever is doing this is not going to spend much time trying to get your money.  I would suggest just bolting or welding a hasp across the front of the key area and locking that with a pad lock.  With the hasp across the front they won't be able to get their key into the lock. This will deter them and hopefully they will just move on to easier pickings.  When you need to get in, just unlock the hasp, hing it open so you can insert your key and get your money.  Think of it as a chastity belt for your coin box.

A camera is great if you have the time to react. But unless you actually can tell who the person is in the video the cops will not do anything about this crime.

Good luck and let us know what works for you!

-Arlen

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
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    Put in a camera that can't be reached from a standing position and have the person stealing arrested.

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  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
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    @Joel Owens 

    Camera's of course make sense however, then I have to get an internet connection, a DVR setup w/ cameras..Let alone get a place to setup the DVR.

     For the cost of it, I might as well remove the washer & dryer. 

    Cameras even if "dummy" also are a deterrent. 

    0Reply
  • James Stevens
    Contractor · Temple, TX · Member since 2014 · 379 posts · 164 votes
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    I was thinking cameras, also.  And you don't need internet for Closed Circuit cameras.  They're really cheap these day, too.

    0Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
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    If you are going to have the coin laundry for future properties also put the camera cost in already to your expense numbers even if the seller doesn't have it.

    Your model will likely be different from how a current seller runs it.

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  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    Thanks Joel, it's a very efficient approach that I will take charge on.

    1Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    @James Stevens You are correct about the closed circuit. I am a little over an hour away from the property & I love being able to view my cameras via IP address!

    My other businesses are accessible on the net & it keeps me sane!

    However closed circuit might be my best & only option for preventative maintenance. Put that %$#$%# in jail! Oh wait, they don't keep people in jail for "small" occurrences. Maybe it's one of my tenants! 

    2Reply
  • Troy Young
    Port Huron, MI · Member since 2014 · 86 posts · 29 votes
    11y

    I would check with different camera options. Even if you throw up a dummy camera. I had problems with kid's damaging a building and throwing eggs and smashing pumpkins and a couple dummy cameras and a couple signs "smile you're on camera" has stopped all the problems for about a year now. Another option may be to eliminate the coins and instead offer free laundry facilities but also increase the rent a little bit to cover the "free" laundry.  

    0Reply
  • James Stevens
    Contractor · Temple, TX · Member since 2014 · 379 posts · 164 votes
    11y

    @Nik S. I agree that I would prefer to be able to live stream the footage on my phone, laptop, etc. but, like you said, CC is cheaper and can still catch the A-hole doing it.

    0Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    @Troy Young 

    I agree with you! However I will use real cameras as I have a lot :-)

    I'll also post the signs in the laundry room and to help deter the THEIF!

    Increase the rent is always a touchy subject for tenants! I'll hear all the tenants say, I never use the laundry room, why should my rent go up, blah blah blah!

    Love this game!

    I'll post some pics of my action come Saturday! Cameras it is. I want to find out who it is.....So I lost $300, I'll live. Finding that person who is taking my $ will make me live longer :-)

    1Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    I think the camera will be a deterrent as well as the sign. However, if not at least I know I can put the CC camera on a "motion only" detection. The system I am going to use has a 1TB hard drive and with the camera only recording when motion is present, I think it will last at least 30 days. Therefore, I can view it 1-2x a month.

    My property manager goes about every 2 weeks to collect, so it will help gauge the time frame as well. I also know what I average monthly in income.

    Makes me sick that someone is stealing my money & least they didn't break my machines because it would cost me way over $300 to fix.....

    What goes around, comes around! 

    FYI, I love BP! Thanks all!

    0Reply
  • Arlen Chou
    Investor · Los Altos, CA · Member since 2014 · 942 posts · 1k+ votes
    11y

    @Nik S.This is petty robbery so who ever is doing this is not going to spend much time trying to get your money.  I would suggest just bolting or welding a hasp across the front of the key area and locking that with a pad lock.  With the hasp across the front they won't be able to get their key into the lock. This will deter them and hopefully they will just move on to easier pickings.  When you need to get in, just unlock the hasp, hing it open so you can insert your key and get your money.  Think of it as a chastity belt for your coin box.

    A camera is great if you have the time to react. But unless you actually can tell who the person is in the video the cops will not do anything about this crime.

    Good luck and let us know what works for you!

    -Arlen

    5Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    @Arlen Chou 

    This was my original plan and it seems much easier to implement. I don't really want to waste my time to find some dumb person stealing my laundry coins. I rather just remove them!

    I am going to start with the hasp & see if they helps deter. I also will add a "dummy" camera and put signs up on the door and near the units.

    Then lets see if that does the job! 

    I'll post pics of my action!

    0Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    @Arlen Chou Cops won't do a damn thing, your exactly right!! Bigger things to worry about!

    1Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    sadly, I've had robberies and cameras were too blurry to identify the man! 

    I'll weld (2) hasps to make it more sturdy...

    0Reply
  • Tony A.
    Real Estate Investor · Houston, TX · Member since 2014 · 21 posts · 5 votes
    11y

    Camera's alone are no help if that person covers himself from it. I suggest place 1000 volts electricity charge trap so when he goes for it ZAPPPP like a mosquito. Then I love to see that video on the funniest video show. You might win the $10,000 price.

    1Reply
  • Christopher Stanis
    Investor · Binghamton, NY · Member since 2014 · 118 posts · 66 votes
    11y
    Definitely a good idea to post cameras as a deterrent. I might make a suggestion- it may not be worth getting sick to your stomach over petty theft. That could give you an ulcer over years, and fixing your long term health will cost way more than a few quarters
    0Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    @Christopher Stanis 

    Oh I am not sick to my stomach just it irks me thinking about why people do what they do!

    Take this one with a grain of salt....My father's previous mangers at a motel stole over 100k cash in 2 years....... He's still the same when he found out! Handling loss is an art!

    Some see the bigger picture while some focus on the little things in life and channel negative energy!

    I've learned that it's never THAT bad...however if I were in my fathers shoes, I would have caught it sooner...wait Am I the son that knows it all???

    :-)

    0Reply
  • Michael Tempel
    Property Manager · Minneapolis, MN · Member since 2014 · 380 posts · 167 votes
    11y

    I am almost 100% credit vs coin.   The vending companies like it since break ins go to zero and overall it is the way everything is going.   

    I used to have cash stations that took credit or cash, those got hit every 5 months camera or not.   Unless you get a license plate etc, cameras are not that great if you don't know the person.   Even still it is tuff, I witnessed camera footage on an past maintenance tech that stole 5,000 from a community.   He was in a hoody etc., was obvious if you knew him, but hard to prove.   

    Last point, when you grow in size it is a pain in the butt to collect and deposit coins.   We had a 275 unit building that took about 6 hours to collect and deposit coins.   Went credit only, lost a little at first, but now make the same and spend 5 minutes to show laundry income.    

    0Reply
  • Kyle Hipp
    Investor · Appleton, WI · Member since 2012 · 1k+ posts · 464 votes
    11y

    You should be able to cut a hole in the frame on both sides outside the lockbox. Then slide a plate with a stop on one end and a hole on he other end ND place a lock in the hole. You will hen just undo the lock to get access to the lockbox. Even if the lockbox is able to be unlockd you can make it so it can't be opened. Keep us updated.

    0Reply
  • Minka Sha
    Investor · San Diego, CA · Member since 2014 · 79 posts · 17 votes
    11y
    Is there a door on the laundry room? Does that door have a lock? Add one if there isn't one in case it's someone from outside stealing.
    0Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    @Minka Sha good question. The laundry room is locked, only tenants have access... Hmm makes you wonder! The door does NOT looked tampered with either. Maybe add a deadbolt but if it's a tenant then it won't help.

    @Kyle Hipp  I like where your going with your idea. I'm going to try and come up with something asap. I will keep you updated with pics as well! Thanks for the suggestion

    0Reply
  • David Krulac
    Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
    11y

    Camera, and system are a few hundreds of dollars.  While you're at it put other cameras around, like on the water meter, dumpster, parking lot, entrances, etc and have a complete system.  Also a secondary locking system of super strong hasp and padlock system.

    Or offer FREE wash and dry but raise everybody's rent to cover the costs of the machines, service, and utilities. 

    0Reply
  • Jason C.
    Investor · Austin, TX · Member since 2014 · 217 posts · 170 votes
    11y

    Gatehouse 6 This hasp can be screwed into the outside and flipped in front of the keyhole. Put any padlock on it you like. It's less than $10 at Lowes/HD.

    3Reply
  • Nik S.
    OP
    OH · Member since 2014 · 454 posts · 227 votes
    11y

    @Jason C. 

    Thanks for the tip. I will probably put a few on each. I am looking for that but more heavy duty! Will post pics hopefully by Saturday !

    Thanks all, ALWAYS a great help! Asking others for suggestions can be a pain, but my fellow BP's are there whenever I'm in need! 

    0Reply
  • Ken Barrett
    Specialist · Anniston, AL · Member since 2013 · 59 posts · 32 votes
    11y

    It was mentioned above but the best way I have seen is the steel bar and lock through the frame in front of the coin box. 

    I own 3 coin laundries and have not had an issue with this but I have seen it done. 

    Of for about $35 each you can replace the coin box.

    0Reply
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