When weighing up the pros and cons of investing in a security system, one of the significant considerations any property owner or manager has is cost. While a new security system can be costly – whether you’re upgrading existing systems or installing something for the first time – this is one area you don’t want to scrimp on.
What’s the true cost of not having a security system? Here are some of the pricey problems that not investing in high-quality security can lead to:
Potential Break-Ins And Property Damage
While break-ins aren’t a daily occurrence for the vast majority of properties, criminal damage and theft are still things that occur regularly. Not having a security system fitted can lead to an increase in costs for repair, maintenance, and immediate fixes. In the long term, it’s more affordable to invest in a quality security system than it is to repair and replace doors, fix windows or restore any other damage resulting from not having a proper security system in place.
Reduced Tenant Safety And Satisfaction
If your tenants don’t feel safe in their homes, they’re less likely to want to stay – and less likely to be satisfied with the property in general. Security is a consideration for just about any renter, and being able to provide the safety your tenants need is a must. While legally a great security system isn’t a must, morally you should want to keep your tenants safe – and happy – for however long they choose to stay,
Fewer Tenant Opportunities
If you’re struggling to get tenants into a vacant property, security may be part of the reason. An empty property certainly isn’t making you any money and could be costing hundreds each month. Properties with modern amenities – including state-of-the-art security systems – are far more likely to be snapped up by potential tenants.
Lack Of Evidence Or Reasonable Prevention
Should the worst occur, whether it’s a robbery, deliberate criminal damage, or even arson, your security system can be a way to back up your insurance claim, as well as file any reports with the police. While security systems are designed to prevent incidents, they’re also incredibly valuable if something does occur – both for legal purposes and for your insurance.
A property without proper security systems is a higher risk to your insurer – and as such, you’re far more likely to be paying a premium for that property. Installing a security system is one of the best things you can do to reduce those costs quickly and effectively, potentially saving plenty of cash in the long-term with just one up-front investment.
For both commercial and residential properties, having a proper security system in place shouldn’t be optional – it should be one of the first things you invest in. The true costs of not having security in place can be far higher than the system itself costs – so why not find out more about the security systems we offer at Sophia Consulting? Get in touch today to find out more.