Managing a rental property business is a good way to start building your wealth and achieve financial freedom. It will serve as an additional source of income if you have a day job or other businesses. While this type of venture looks very lucrative, it comes with a huge responsibility and requires a lot of work and investment.
For one, building or buying a rental property costs a lot of money, not to mention the facilities and utilities you need to provide. You should also invest in regular maintenance for the structure and the amenities. Another concern is the safety of the units and the people who live there.
Below are some of the best things you can do to ensure that your occupants are always safe in your premises.
Install a fence and a gate
Perhaps the worst security problem in rental properties is burglary. This issue occurs when there is no solid security system or feature in the rental property. To prevent unauthorized access to your compound and potential break-ins, you should install a fence and add a gate. This way, there will be just one point of entry to your rental property. Outsiders won’t be able to get in easily and cause trouble in your premises.
A gate adds a layer of protection, especially during nighttime when almost everybody is sleeping. Potential intruders won’t be able to get in easily if the gate is locked. Your tenants will also appreciate the presence of a gate because it gives them peace of mind. It makes them feel more secure and gives them privacy. If you want extra protection, you may hire a security guard to watch over your property.
Secure the units
Whether you are just building your rental property or renovating recently vacated units, it’s best to ensure that the units are secure. Make sure the entryways and windows are sturdy and impenetrable. It starts with using high-quality building materials to ensure the strength and durability of the structure.
Invest in euro cylinder locks and other additional security features to increase safety in your rental units. You can also install grills on your windows and doors, as well as install fire safety systems inside the units.
Install a security system
Having a functional and modern security system is one of the best ways to keep your rental units and tenants safe. CCTV cameras and motion sensor lights, for example, can help deter intruders. With a modern system, you can even monitor the situation at your premises even when you’re away using your smartphone, laptop, or tablet. To stay compliant with local building codes and fire safety regulations, you should install a sprinkler system and a smoke detector and alarm in every room.
Because you are letting people live in your property, you are responsible for providing a safe environment for them. They should also be comfortable in your rental units, which is why you need to keep up with their maintenance schedule. Consider these suggestions to make sure your tenants will remain happy and satisfied.