SUMMARY: Protect your property with security measures. Carry out a commercial tenant background check, install exterior lighting, and more.
Security Measures That Will Protect Your Commercial Property
Investing in a commercial property helps you generate significant rental income. But before you start taking in commercial tenants, you need to think of ways to protect your investment. As a property owner, you want to eliminate risks as much as possible. Here are some security measures you should put in place.
Perform Background Checks
Carrying out a commercial tenant background check is a must for every application. It might be tempting to skip the entire process so that you can get a tenant right away. However, rushing through this step can backfire on you later. If you skip the background check, you could miss information that’s relevant to your decision. You might also miss key details or data that indicate the suitability of a tenant. By doing a background check, you’re in a better position to determine the best tenants for your rental units.
Invest in Good Software
Not just any tenant screening solution will do, though. You need to find one that gets you the information you need. For instance, some screening programs only provide you with a credit report. Not all of them offer an eviction history, which is also information you need to look into before you accept a tenant. Be sure to browse through your options carefully. Consider their features before you choose a tenant screening system.
Install Cameras and Alarm Systems
Filtering solutions are preventive measures. But you also need to put security systems at your commercial property. Camera and alarm systems protect your investment from burglars and thieves. There’s also no harm in installing these security measures in shared areas in and outside of the building. This will provide potential tenants with peace of mind, knowing that there’s a CCTV system around the property. If there are any crimes or criminal elements that attempt to break into one of the units, the CCTV system can capture images that could lead to a timely arrest. This also protects your unit. In case a tenant deals damage to any part of the property, whether intentionally or through an accident, the CCTV system is there to back you up. If you file a case, the images will help you receive fair compensation.
Look into Access Control Systems
You might also want to think about improving security by installing access control systems. That will make it difficult for anyone else to get into the building. You can want to give key cards or fobs a try. That way, only people with key cards can access those areas. You can keep out unwanted unauthorized entries that could pose a security risk for your tenants and property. However, if you lease out the entire building, your tenants might think about installing this on their own.
Add Exterior Lighting
Be proactive about preventing potential burglaries and theft. Install adequate exterior lighting to prevent criminal elements from taking advantage of the cover of darkness. Be sure to fix any broken windows, fences, or gates, too. That will eliminate potential security risks, as well.
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