Jeanne M. Salvatore, senior vice president and consumer spokesperson for Insurance Institute Information, recommends that all homeowners take time to make a complete list of personal property to control their assets. Salvatore’s recommendations also apply to property managers. Working from a proactive vantage point, residential property managers who commit to an annual review of physical inventory stand to gain greater control over their return on assets.

Here are three ways that inventory management helps property managers save money.

Insurance and Replacement Costs

A detailed description of assets – furnishings, fixtures, supplies – helps you decide what type of insurance and coverage limits are appropriate for your property. Insurance is only beneficial if your policy accurately reflects physical inventory and assets.  Failing to secure adequate coverage, or paying for unnecessary protection, wastes money.

An annual review of each unit provides an opportunity to catch potential problems early enough to make repairs. It is less expensive to repair a small crack in a window than it is to replace the full pane. Likewise, discovering an HVAC unit that is cycling on and off may only need a complete cleaning, but delayed action could lead to further damage and replacement costs.

A bare-minimum checklist includes the following items:

• Window treatments
• Bathroom fixtures
• Appliances
• HVAC and portable heaters
• Furniture

If your property rents fully furnished apartments, include linens, dishes, and other convenience items in the unit at the time the lease was signed.

Budgetary Control

A property wide annual inventory review lets you gain tighter control over the budget and prepare for the coming year. Attaching identification tags to office equipment, maintenance tools, digital devices and other assets allows you to track and monitor your property more efficiently.

A strong asset management program identifies wasteful spending habits, establishes a record of losses for tax purposes and creates valuable information for developing accurate budgetary predictions.

Maintaining Your Property Image

Another key advantage is that regular inventory, especially in common areas, is important for maintaining your image. Over time, little things disappear or get damaged. Replacing small decorative items, like outdoor flower pots, trash receptacles and table ornaments in the club house goes a long way toward making the community feel more like home.

Keeping accurate records of loss or damage for decorative items provides insight for property managers in another way. If you discover some items need frequent repair or replacement, you can find a new location with less traffic, buy more durable items or opt to use alternative decorative strategies.

Investing your time to develop a strong asset management program saves time, money and hassles for property managers. An annual inventory strengthens the program, and is important for every multifamily property.

Appfolio | Company Website | LinkedIn Connect |AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money.  Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.

It’s inevitable that landlords and property managers will experience resident negligence that leads to unintended damage to the unit. Although residents may think they are engaged in innocent actions, landlords and property managers may wonder “what the heck was that resident thinking?” after coming across the by-products of these actions.

Further, your net operating income is likely to be directly and adversely affected by residents’ negligence that leads to flooding, smoke damage or fires. You can avoid the expensive repercussions of these “goofs” by being proactive.

It’s important to have policies clearly stated on the premises and in leases about these risks, and to warn your residents in advance against these concerns. Some suggested warnings, based on common negligence-related accidents are as follows; they relate to water, smoke and fire, which all have a negative impact on your operation and residents’ quality of life:

1. Absolutely no clothing should be hung from the sprinkler lines; this runs the risk of setting them off or damaging them — which in turn will flood the unit.

2. When mopping or cleaning up behind the toilet be aware of the water supply line; if damaged, this can flood your unit and the unit below.

3. Defrosting that holiday turkey? Don’t forget that you left it in the sink with tepid water running over it. That blocked sink will overflow and flood the apartment.

4. When the municipality shuts down a water main, you must shut off all your faucets before leaving the apartment; otherwise the unit can easily flood when that water service comes back on.

5. Toilets are for toilet paper and human waste, nothing else. Diapers and feminine products are leading causes of sewer backups and unpleasant interior messes.

6. DIY doesn’t cut it when installing a personal washing machine in your unit; hire a professional plumber to hook up the water hose.

7. Laptop computers overheat easily when air flow is restricted. Don’t leave a laptop unattended on the bed for long periods of time. Overheated laptops can catch fire, as reported recently by the media.

8. Don’t fry a frozen turkey in hot oil; this will cause a dangerous grease fire (and thwart your dinner plans).

9. Cigarette butts belong in ash trays, not in potted plants, waste baskets or on countertops, where they can smolder and cause a fire or smoke damage.

10. Cooking while intoxicated may also lead to fires; you could forget something’s cooking on the stove, get sloppy with cooking oil or worse, pass out.

11. Before you light your fireplace, remember to open the damper to allow for proper ventilation.

12. Technology can be highly distracting so avoid texting when you are cooking, turning on your fireplace or cleaning around your plumbing. That message can wait.

By requiring residents to participate in a property damage loss waiver (“PDLW™) program, you transfer the risk associated with these resident-caused accidents to the resident. Although you would receive payment directly to cover the cleanup and repair expenses, the best solution is to prevent these situations from happening in the first place. Make your residents acutely aware of the risks in advance and have adequate protections in place to handle these emergencies when or if they arise.

Paul J. Kaliades is president of Renters Legal Liability LLC (RLL™), a provider of Renters Legal Liability® Property Damage Loss Waiver. For more information visit www.rllinsure.com or contact Kaliades directly at pkaliades@rllinsure.com or at 800/ 770-9660. Renters Legal Liability® is a registered mark of Renters Legal Liability LLC.

As real estate crowdfunding builds a head of steam behind the JOBS Act, what are the benefits and initial concerns that will make or break this budding industry?

“It is really this access problem.” says RealtyShares co-founder Nav Athwal and his partner Trey Clark. “The fact of the matter is, there is no easy-to-access marketplace for even investors to access a reliable source of quality private real estate investments and thus investors have traditionally invested in what is readily available – stocks, bonds and mutual funds.”

When President Obama signed the JOBS Act in April of 2012, the crowdfunding industry achieved what has been identified in the industry as having “potential to be a game changer” for future private equity fundraising efforts. According to RealtyShares, the JOBS Act brought about for the first time since the great depression and the enactment of the Securities Act of 1933, the opportunity for unaccredited investors to be able to participate in a private equity deal.

This is a huge step for investors looking to take advantage of the fact that private equity investments in the U.S. have traditionally outperformed the stock market. Up until the signing of the JOBS Act, these private equity deals were reserved for only for the wealthiest investors, while the average investor was left to invest in the public markets.

And while the JOBS Act is considered by most to be a step towards balancing this inequality, it does have its limits. For both investors and fundraisers, understanding these limits is crucial.  For starters, some of these limits may be prohibitive when it comes to private real estate deals and the act sets a $1 million per issuer, per year fundraising ceiling in addition to possible exorbitant compliance requirements.

One of the biggest benefits of crowdfunding real estate is that it allows investors greater access to deals and it offers a way for them to diversify portfolio.

“If you take a standard investment portfolio, allocated 60% to stocks and 40% to bonds, and reallocate a 20% portion of it to private real estate, you not only increase returns but reduce volatility.” adds Mr. Athwal.

Platforms, like the one RealtyShares operates, allow investors to invest passively in private real estate investments, all while managing the transactions as they would when investing in either stocks or bonds.

With technology, the industry is able to increase the transparency around how capital is raised for private real estate investments and the fees that real estate firms then charge investors.

According to Nav at RealtyShares, “Real estate has been operating under the country club model for too long. The fees operators have traditionally charged investors to pool their funds, acquire properties, and manage the final real estate assets are typically hidden amongst a ton of legal jargon.”

Technology makes the entire process of crowdfunding possible. Without it, this market wouldn’t be possible. Technology allows crowdfunding to adapt and overcome these shortfalls to allow prospective investors to have this desired transparency and increased accountability.

From a logistical standpoint, technology allows for not only the feasible managing of multiple transactions, but also makes it possible to reduce costs through the added efficiency. This efficiency opens up the door for smaller investors who want to get involved in deals with a minimal investment of $5,000 in most cases.

Does this spell the end of the real estate middle man?

“I think that technology enables more information to the investor and better decision making, however the middle man will still always be a part of the process,” says crowdfunding investor Justin Miller, “We will always need someone chasing and sourcing great deals.”

Justin Alanis | Company Website | LinkedIn Connect | Justin Alanis is the Co-Founder and CEO of Rentlytics Inc.  Rentlytics is based in San Francisco, CA providing deep analytics for apartment property owners and managers. View and analyze property operational and financial metrics more effectively and identify issues.

May through September are typically the months when most tenants seek new apartment homes, with July and August being the highest volume months. Spring’s arrival signals it’s time for property managers to prepare for increased traffic to view vacancies and to commit resources to encourage lease renewal numbers.

Where do you start? Perhaps the best starting point is getting your team focused. It’s time to make sure your property management team, administrative staff, and owners collectively focus on meeting property goals.

Engage Your Tenants

The arrival of warmer weather naturally inspires many people to open the doors and windows to let the fresh air and sunshine pour in after being cooped up all winter. Take advantage of the situation. Include summer preparation tips in your monthly newsletter like the ones below. This will not only identify potential maintenance issues, but it gives you an opportunity to connect with your tenants. Your team response to safety and maintenance requests can build stronger relationships, hopefully encouraging higher retention rates.

• Check windows and doors for weather-stripping and caulk leaks.
• Turn on the air condition to check operations.
• Test smoke alarm devices and replace batteries.
• Check faucets for drips and inspect sink and tub drains.
• Make a visual inspection of outdoor spickets for leaks and rotting gaskets.

Upgrade to a Modern, Online Lease Flow

Streamlining the rental process is crucial in a competitive market. While many multifamily communities offer online applications, that isn’t enough in today’s digital world. According to the National Multifamily Housing Council, technological advances and increased mobile applications present benefits for property management companies.

Property managers should plan on updating to an online leasing solution to utilize technology to streamline the rental process and protect data efficiently and effectively. Access to online tenant screening, e-applications and digital signature options that allow tenants to sign the lease immediately after viewing save time, and give you the competitive edge over properties that use paper processing and approval techniques.

Give Your Team the Resources for Success

This isn’t the time to cut back on your training budget. According to the Center for American Progress, the direct cost associated with replacing an employee is roughly 20% of the employee’s salary. Protect your human assets. Make certain that all team members have access to technology and training before the surge. Understanding how the rental process works for tenants from first touch point to move-in date is critical for your property. Whether you have on-site maintenance teams or work with third-party make ready vendors, review procedures to ensure tools, supplies and adequate staff members are available to respond to every situation.  Also, consider extended hours for leasing agents during peak rental season. This is the time of year that the extra investment can really pay off.

Put out the Welcome Mat

You’ve heard it thousands of times, “you only get one chance to make a first impression.” Take time to update web pages and social media sites. Invest in a property-wide spring cleaning. Spruce up your common areas and address maintenance issues that took a back burner to snow removal and urgent requests through the winter months.

Leasing season is upon us, it’s time to get ready.

Appfolio | Company Website | LinkedIn Connect |AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money.  Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.

Protecting your business from hackers is a hot topic these days. Property management companies are particularly fearful of becoming the next Target, and rightfully so. With all the data residents need to provide on lease applications, property management databases are full of sensitive information like credit cards, Social Security numbers, previous address information, and date of birth. It’s a gold mine for identity thieves.

With so much buzz over data security, we recently hosted a webinar for property management professionals titled, “Safeguard your Business – Strategies to Improve Data Security and Protect Resident Information”. In case you missed it, here are some of the tips PayLease’s security experts discussed with the audience.

Hire Trustworthy Employees

Responsible and honest employees are crucial to data security. Job hunters are on their best behavior during interviews so it is important to run background checks and call each candidate’s professional references. Prospective employees should have multiple rounds of interviews within your organization, preferably with multiple people within the company.

Train Employees

The people you hire are your first line of defense in protecting resident data. Train employees how to properly handle sensitive resident information like Social Security numbers, credit card information, etc. Limit the number of employees who have access to this data. Furthermore, employees also need to know computer usage policies and email best practices, so make sure that they are not exposing your computers to unnecessary risk.

Invest in Physical Security

Your office doesn’t need to be Ft. Knox, but exercising some simple precautions can go a long way. Keep files locked. Shred any documents containing sensitive data. Either purchase a shredder for the office or hire a 3rd party to destroy these documents. Install security cameras and a key card access system for rooms where sensitive information could be accessed. But before you install cameras, be sure you check the privacy laws in your area. Some state laws require that employees be informed of security cameras.

Digital Security

Strong passwords are the most important aspect of digital security. Passwords should be at least 8 characters and contain an uppercase letter, a lower case letter and a special character. Never write down passwords and make sure you have multiple passwords for various systems.

Install a reputable antivirus software on all employee computers and make sure it runs daily. Research and choose a solution that is effective and fast, so it can run frequently on the computers without getting in the way. It should be easy to deploy and centrally manage.

Your organization should also have an email and internet policy within its employee manual. Also be sure to inform employees of the latest malware to prevent your systems from being infected with viruses.

For more tips on safeguarding resident information, view our recorded webinar, Safeguard your Business – Strategies to Improve Data Security and Protect Resident Information.

PayLease | Company Website | PayLease is a leading payments provider for the property management industry, specifically serving the Residential, Homeowner Association and Commercial markets. We provide property managers the ability to collect rent, dues and lease payments electronically, resulting in less administrative work and improved cash flow and funding time.

Monthly rent isn’t the only thing you want from your rental property. In all likelihood, you’re watching for your property to appreciate in value as well.

That will become a losing battle if persistent damage keeps you constantly pumping money into the property.

Here are some ways you can avoid the financial sting of damage to your rental units:

1. Before a tenant takes possession, make sure the property is in top condition. You’re teaching by example — showing the tenant what the property is supposed to look like when it’s well cared for. If the property is suffering from nagging little problems, the tenant is going to be more lax when in comes to cleaning and maintaining it. Don’t set the bar so low.

2. Record the property condition when the tenant moves in, with the tenant present. Go over the details with them, and have them sign a move-in form that notes the property condition. Drive home the point with a video or photos. The tenant will get the message: if the property is damaged after today, they’ll have to pay!

3. Give the tenant every reason to believe that, if they take care of the property, they will get every penny of their security deposit back. Your reputation with deposits may come into play as tenants talk to one another — former and current. The real value of the security deposit is not covering anticipated losses; the value is in creating the incentive for the tenant to care for the property.

4. Inspect the property periodically. These inspections are more than just checking up on the tenant. Ask about repair needs, and check out major systems on a regular basis. Often, if a problem is caught early on, the damage will be isolated, or avoided.

5. Jump on repair requests. Sometimes the repair is the tenant’s fault. But intimidating tenants will only discourage them from reporting problems. After a repair request has been answered, call up the tenant and ask if the repair was successful. Thank them for bringing the problem to your attention. In the short-term, repair complaints are a headache. But in the long-term, they save money and keep the property in good condition.

6. Even the best tenants eventually will wear out the unit. As you update your property, spend some time looking at the latest finishes, appliances and flooring. Some improvements are so drastic — so much more resilient — that it may be worth the money to switch them out. Rental homes need finishes that can take a significant level of wear and tear.

7. Water causes billions of dollars of damage each year. Even landlords in modern buildings are seeing damage from the use of new materials that aren’t holding up as well as anticipated. Much of that damage comes from the inside through faulty plumbing. Those leaks can spawn mold and other costly repairs, so it pays to inspect regularly.

Tenants are a common cause of water damage, from an unattended washing machine or dishwasher to over-watering plants.

8. Pay attention to utility spikes. Whether you pay the utilities, or your tenant complains about a sudden increase, take it seriously — that’s a warning sign that something may be spilling out. It can also signal a drug manufacturing operation — and that’s one of most costly repair jobs you will ever encounter.

9. Watch the weather. Storms cause significant property damage, and lately we’ve been seeing some monsters.  Once the surge is over, check for roof damage, clogged gutters, and poor drainage that may leak into the foundation.

10. Encourage tenants to carry renters insurance. The main benefit: they won’t ask you to reimburse them for damage. The indirect benefit is making tenants aware of just how much they stand to lose if they are careless and cause damage to the property.

American Apartment Owners Association | Company Website |  Rental property management can be very demanding. Our job is to make this day-to-day property management process smoother. AAOA provides a host of services ranging from tenant screening to landlord rental application forms and contractor directory to apartment financing.

The owners of a 300-unit apartment complex in Iowa won a $12.4 million verdict from the apartment builder in a lawsuit over water damage.

The father and son acquired the property, which was originally slated for condos, in the fall of ’03 for $23 million, according to a news report. But by spring of ’04, more than 100 units had substantial water leakage.

As many landlords know, unattended water leaks can destroy virtually everything inside a dwelling, and even can compromise the structural integrity of a building. Water precipitates the massive spread of mold.

In this case, the mold damage was so severe that sections of outer walls had to be removed. The landlords told reporters that they had difficulty finding the source of the leaks, and as a result, could not sell the property as planned. It took three years to isolate and repair all of the damage, according to the report.

The culprit, according to the jury, was faulty construction. The complex was not built to repel water sufficiently. The materials used, such as mortarless stone walls which were easily penetrated by water, were not appropriate for Iowa’s harsh winter climate. This allowed water to enter the rentals with ease, where it caused significant damage and mold. In addition, it was believed that the workers may have cut corners in a rush to complete the project.

The builders reached a settlement with the landlords for over $15 million dollars, to cover previous and expected repairs, increased maintenance and $6 million in lost revenue, according to the report. However, the builders’ insurer denied the claim, prompting the trial.

The insurer may appeal the verdict.

American Apartment Owners Association | Company Website | Rental property management can be very demanding. Our job is to make this day-to-day property management process smoother. AAOA provides a host of services ranging from tenant screening to landlord rental application forms and contractor directory to apartment financing.

Monthly, quarterly, weekly, or at least annually organizations expect updates of Property Marketing Plans.  Dutifully, plans are submitted to the appropriate source for review.  Task complete…Thirty, sixty’ ninety days later, update plan.  Task complete, check the item off the TO DO list.

How is the plan integrated in to the property operations?  Without specific action items, the plan is a report providing little value. What a waste.  A thorough marketing plan has taken a considerable amount of time to prepare, why is there failure to follow through with the action items adding structure to the marketing efforts of the property?

“We’re too busy!”

The marketing plan has potential answers to any occupancy or renewal challenge.  Using the marketing plan hand in hand with the weekly or monthly community calendar can provide amazing results. As well as structure for the marketing functions of the property.

– Outreach goes on the calendar.  Waiting to try and fit it in at the end of the day, will ultimately result in no outreach.  Outreach Relationships bring results, but handing someone a flyer every month or two doesn’t create a relationship.

–Updating ads with ISP providers, Craigs List and the management company web page can spread the word about a current promotion.  Is this on the calendar?  Weekly?  Daily?

Planning for community events can generate local media attention (Free Advertising!) and resident retention.  But if everyone is too busy to look at the calendar, throwing together a Mother’s Day event the Friday before Mothers Day has little chance of  generating results.  Looking at a calendar for the upcoming four to six weeks, can identify focus points for outreach events and resident appreciation moments, Like celebrating the day Tootsie Rolls were introduced (Feb 23,1896) by handing them out to everyone that comes to the office, attaching them to maintenance notices.  Planning is essential.

Taking the time at the beginning of the week or month to add marketing activities to team responsibilities will reinforce the importance of marketing. Effective marketing is not an afterthought. It is organized and planned based on the future needs of the apartment community. Evaluating potential move out exposure based on lease renewals, and actual move out notices will identify the timing to increase advertising, in advance of apartment vacancy.

An outline of businesses for outreach will provide structure for this task, and insure follow up visits are scheduled.

The marketing plan is the road map tracking the variety of advertising efforts. Realizing an internet ad was not updated or the newspaper deadline was missed will probably affect the number of calls or visits, delaying the hoped for increase in occupancy.

As the marketing plan is updated for the next submission, add dates and items to the calendar. Keep a copy with the team schedule for the week. Its a valuable resource, put it to work!

Lori Hammond | Company Website | LinkedIn Connect |Lori has 30+ years’ experience in the Property Management Industry, working with both market rate and affordable housing.  Lori has been privileged to work with some tremendous industry leaders during employment tenures with Oxford Management, NHP Management, AIMCO, Alliance Residential, Boston Capital, The Sterling Group, P.K. Housing and currently Management Resources Development.

At some point, every landlord need to hire a contractor, so it’s important to be able to spot contractor warning signs to help determine who the best candidate is. Whether it’s a simple update or a whole remodel, you depend on outside service experts to help keep your rentals in top condition.

Deciding on which contractor to hire can be a stressful decision, so take the time to get familiar with several contractor warning signs so that you can sift through the bids and get the one who will really be worth it. There are too many bad contractors and contractor scams out there to risk your real estate investment to just anyone.

Good Contractors Are Critical To Success

When you find a good contractor, it’s amazing how smoothly things can go. If you are working with a contractor that isn’t so capable, you can lose time, money and even jeopardize your investment with safety issues.

Most landlords and property owners are familiar with the important steps of process of asking a potential contractor for a portfolio and a list of references. However, there are other factors you examine to determine if a potential contractor is one you should hire or one you should steer clear of.

Here are 6 contractor warning signs to look for when hiring someone to work on your rental property.

1. No license, registration or insurance

It may seem obvious to stick with someone who has all the proper credentials, but many people are tempted by the low rates of someone claiming to be an expert contractor who just “hasn’t gotten around to renewing their license.” Other scenarios that property owners might encounter often involve a friend or relative with experience who say they will do the job for a bargain price.

Never hire a contractor that doesn’t have proper certification. This enables you to stay on the right side of the law and to protect your investment financially.

2. Unusual payment arrangements

Most professional contractors have an outline for a payment plan, depending on the size of the project. For small to medium jobs, they need some form of payment up front to start purchasing materials and the balance is paid upon completion. For large jobs, contractors generally require a down payment and then set up regular progress payments or draws after that.

Beware of contractors who only want to be paid in cash or who ask for large payments up front, especially if it accompanies a lowball offer. Property owners all across the country tell too many horror stories of paying contractors up front only to see their money, and the contractor, disappear.

3. High pressure sales tactics

A good contractor should be content to be judged on past work and recommendations from previous customers without resorting to aggressive sales pitches or putting pressure on potential clients. While some people are just naturally assertive when it comes to sales, it could also signal desperation, such as the business is struggling and isn’t landing many clients. If you feel like a contractor is simply trying too hard to secure a job with you, follow your instincts and keep looking.

4. Mismatched skills

Don’t make the mistake of thinking that a good contractor in one area of specialization automatically makes him good for just any project. If a contractor has years of experience in kitchen remodeling and no real bathroom remodeling experience, you are taking a risk in trusting an extensive project with someone who may not be as familiar with the requirements and potential issues of a particular job.

Make sure the contractor you hire has experience in the exact project you want, along with plenty of satisfied customers. Do your research and ask for examples of work and references from past clients who had work done that is similar in scope and cost to what you want.

5. Sketchy paperwork

Contractors who are confident in their skills and abilities are not afraid to put things down on paper. If a contractor doesn’t have a basic written contract to start with, that’s a red flag. Reluctance to commit to a schedule in writing is another warning sign.

Failure to provide a list of materials and supplies should also raise concerns, because accurate records are extremely important in this line of work. You should be able to ask for examples of materials lists from previous jobs similar to yours, and if the contractor is reluctant to provide those, he may not be the best choice.

6. Communication barriers

A great contractor can still be hard to get along with, especially if your communication styles are not a match. Communicating with your contractor is a key part of ensuring that each project goes smoothly, so if there is a failure to communicate on the most basic level, chances are things won’t improve down the road. Observe whether the contractor does an equal amount of listening as he does sharing information and opinions with you.

Steer Clear of Shortcuts

Too many property owners become the victims of unethical or dishonest contractors, and still others succumb to the temptation of letting someone they know act as their contractor. Whether it’s to save money or save time, choosing a contractor that isn’t right for you can have long-term repercussions. If you don’t pay attention to the warning signs, you’ll always hire the wrong contractor for your project.

What methods do you use to screen and hire contractors for your rental properties? Are you aware of any other contractor warning signs? Please share this article and let us know your strategies in the comments below.

Stephen M. White | Company Website | LinkedIn Connect |Stephen Michael White is the founder and CEO of RentPrep, a tenant screening company that gives landlords the tools and resources to get better tenants. Stephen is a frequent speaker for real estate and landlord associations around the country, passing along the knowledge he’s gained working with thousands of landlords, investors and property managers since 2007.

Whether you own or serve as the property management company for a multi-unit housing complex, adding a security patrol to your agenda may be something to consider as an extra precaution or to add peace of mind value to your property.

One option to consider, if budget permits, is hiring off-duty police officers for 24-hour security; however, for this particular piece we will take a look at employing licensed and trained security personnel for evening or full-time patrols rather than formal police officers.

The Real Purpose of Residential Security Patrols

Whether considering a single night watchman or several patrol officers or stationary guards, the main emphasis should always be on establishing a perimeter of non-forceful deterrence. The goal is to make criminals think twice with the mere presence of security personnel, who should ultimately rely on municipal police for backup and action when and if it becomes necessary to protect the property.

You’ll only want to hire security when it’s called for. For example, if crime is higher on weekends or evenings, a force during those hours may be all that’s necessary. This is a consideration that may be taken to residents themselves through a survey, general meeting, and those with HOA boards already have a sounding board with the authority to approve such expenditures.

Determining the Functions of Your Security Force

While visibility of security is vital to its efficacy, so is the credibility that residents hold in your security personnel. This means that the security persons must be able to get police help promptly, must be adept at their job, and make those rounds so that they are clearly and regularly seen by both residents and mischievous eyes. Although the use of force must be minimal, these individuals must be able to exhibit the ability to defend themselves if and when necessary.

Security personnel can essentially perform three basic functions for your housing complex: patrolling, monitoring the electronic alarms and/or surveillance systems, and stationary guarding. Clearly patrolling may involve vertical patrols of interior hallways, lobbies, elevators, and the like while regular perimeter checks outdoors may also be necessary. Stationary guards may serve at the entrance of gated communities or serve dually as a monitor of any alarm systems and visual camera security. Determine how many patrollers you’ll need to handle your target tasks and budget appropriately.

Types of Security Services for Property Management Companies

Unless you’re considering police protection or thinking about establishing a resident patrol program, (an increasingly popular and rather effective option in resident owned complexes with HOAs) there are basically two options to consider: management controlled forces and contract guard services.

Management Controlled Security – Members of these forces are paid by the property management company who will retain the final say in supervising, hiring, and the firing of the security personnel.

Contract Guard Services – Unfortunately, these contracts are often purchased through agencies who retain hiring, firing, and supervising rights. These contracts will need to be cancelled if the services don’t live up to your standards and are less easily managed than controlled security forces.

You Can’t Go Wrong by Protecting Residents and the Property

Establishing set security personnel to keep an eye on things around the neighborhood can increase resident and owner confidence and dissuades potential criminal offenders from even making a move in your community. With this in mind, it could be time you consider 24-hour security, or evening patrols, to help keep your property and residents safe.

Appfolio | Company Website | LinkedIn Connect |AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money.  Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.