Thought Leader Presented by Brivo
Property owners with secure buildings see increased leasing velocity and improving tenant attrition.
Americans are growing increasingly worried about crime. A recent Gallup poll found that 80% of Americans worry about crime, the highest in nearly a decade, and it is highlighting the need for home security systems to give people a sense of safety at home.
And while security concerns may not be a top concern for property owners, multifamily residents have shown their preference for peace-of-mind amenities like cameras, smart locks and front door security personnel, notes Mary Clark, chief marketing officer at Brivo, a cloud-based access control company.
Property owners with these types of security systems report increased leasing velocity and improved tenant attrition. This is especially true for millennials, as Brivo finds that 61% of millennials are more likely to rent a property with electronic access and 63% of millennials would move out of a building due to a lack of security.
Security is clearly top of mind for the tech-native cohort, and Clark notes that a modern security system that embraces current cloud-based technology can simplify the building’s management and provide an easy way to futureproof it.
The Benefits of Cloud-Based Security
Smart building technology is delivering a high-level of security to residents with little modification to current systems or physical spaces. Through access systems, property owners can control all of the doors in the property, making it easier to manage and track master keys, vendor keys and resident keys, and they can authorize or revoke site access as needed.
This gives owners a lot of power over building security without having a dedicated person onsite. “Technology is making it easier to manage multifamily properties with many of these features and functions,” says Clark.
Cloud-based systems are the best type of technology infrastructure for owners to provide security and monitor a property from a distance. Cloud technology is accessible from any site, and it can be easily updated and upgraded to future-proof the property for ongoing use as technology advances. Clark notes that cloud-based systems can accommodate tasks like after-hours tours and vendor access.
Easy First Steps
As with all new technologies, property owners are often in the dark about where to begin and how to integrate a security system into the property. Clark recommends beginning with smart locks and a credentials system on centralized database. “They are manufacturing smart locks for every budget type so it’s easier than ever to make the upgrade,” he says.
Another cost-effective solution is to have a camera system at entry doors and common areas to monitor high-traffic areas. “Being able to manage those access points without tracking down physical keys is a no-brainer for most properties,” Clark adds. Because of the cloud-based nature of these systems, they can grow as technology advances or as a property owner’s budget allows.
As Clark sees it, it’s a necessity for a stable building and a thriving community. “Residents nowadays need that sense of security,” says Clark. “In order for a community to keep the right residents, security has to be at the forefront.”
