I'm a long way away from buying something and am mostly just working on a business plan right now!
For people who do own apartment buildings of 6+ units now, do you contract ADT or some other online security system with cameras?
On the plus side, there is a extra security and residents feel safer. Additionally, the place has some measure of protection from vandalism. On the negative side, the quotes I've seen suggest a quotes from anywhere from 50-100 a month.
Security is something I absolutely want to offer my tenants, and these rates are expensive at the same time. Does anyone use security systems, and do the companies provide "bulk pricing" if you have multiple buildings?
Depend on a crime rate in the aria.
We have motion lights and foyer door get locked by tenants after 8:00pm.
Didn't have any problem.
We install security cameras in our properties. We often have them facing out of a building so we see what is going on approaching a building.
Last year we had two buildings under construction that were across the street from each other. An employee of the concrete company saw that plumbing was being installed across the street. He came to the second property on the weekend and helped himself to all the copper in the building. On Monday morning we came to the property to discover that all the copper had been stolen.
The video footage from the first building provided enough evidence for us to take action. The dude was still wearing his sweatshirt with the concrete company's logo on it. When we approached the concrete company and showed the video, they paid for the replacement copper in the building. Never heard what happened to the employee.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!