With regards to home security systems and your Palatine rental property, there are more choices than ever before. You may be speculating if this is the appropriate time to place a home security system in your rental properties.
There are some valid reasons to do so, but, remember there are equally critical elements to think about before going forward with executing the installation. From tenant privacy to costing and various things in between, the more you understand of home security systems for rentals, the more worry-free and easier it can be to make the right move for your properties.
Installing a home security system may seem like a great idea. In any case, what tenant wouldn’t ever like feeling more secure in their rental home? Though as the Palatine property owner, it is essential to take into consideration every aspect of your case or situation when determining if a security system is a right thing for your rental property.
One very important element to take account of is costing. Numerous security companies will offer low-cost installation, but then charge a monthly monitoring fee or other expenses. If you install a security system in your Palatine rental property, you indeed must first come up with a decision whether or not it is reasonable to do so and who may be responsible for paying any related fees. In localities where high crime rates are a concern, a security system should be necessary to keep your property and your tenants out of trouble.
But a security system can also send the wrong message, primarily if your upcoming tenants may already have preconceived issues regarding the neighborhood. Then there are the costs. If you are paying for the security system yourself, make certain to factor that into your monthly cash flows. If you count on your tenant to 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 tenant may not require a security system for various reasons. For example, they may perceive that the neighborhood is safe, thus a security system is unnecessary. Or, they may be trying so hard to learn how to use 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.
It is also very likely that your tenant will not want at all the security system or security company that you chose and would prefer to set up their own security measures. Lots of tenants like the control and real ease of having a home security system linked to their smartphone, so they may favor to set it up themselves.
See to it to take into consideration the issues of privacy. These days, lots of security systems already have integrated cameras. Even if, such systems cost reasonably cheap, it is vital to not forget that it is illegal to take photos or videos in any area where your tenant would have a reasonable expectation of privacy.
In a rental house, that is it for the inside of the house. If you wish to set up security cameras surrounding the exterior of the home, be certain that they do not capture any parts of the property or a neighbor’s property that they shouldn’t. 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.
Conclusively, determining to install a home security system in your rental property should be a choice based on your situation and the likes of your tenants. But truth be told, with the necessary info and careful deliberation, you can make the decision that will serve efficiently for each of your investment properties. Contact us online or call 847-892-4040 to speak with one of our Palatine 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.