Home Security for Rental ??

[Ceasar Blackman]

Hey everyone, 

I wanted to know if any landlords see value in having a home security system on a rental property? Obviously the renter would have their own codes and etc, but owner holding the master codes and paying the monthly bill. Could it bring a added level of security that could raise the rent 10-20 bucks a month? I have also heard it can reduce home owners insurance by 10-20% if thats true i could pay for itself and just increase ever so slightly the cash flow. Has anyone had any experience this being the case lowering rates? The main expense would being the install which could be a couple hundred bucks and monthly ranges like 30-50 per month. Any feedback would be great. 

Thanks !! 

Calling Orlando, Florida, Winter Park, Kissimmee, Clermont, Lake Mary, central florida area

[Jeff Rabinowitz]

    Be very cautious about this. Speak to a lawyer before proceeding. If you select and pay for the security system you may be held responsible if it fails. What if someone breaks in and the alarm is never triggered or it is triggered and the security company never calls the cops? What if the cops don't respond? What if your tenant is beaten or worse? Your system failed. Did you promote the security system as a feature? You may be sued and be held responsible. We live in a litigious society. I considered this at one point but my lawyer urged me not to pay for a system.

    My solution was to let my tenant choose the provider, install a system,and pay for it themselves. The security companies are not supposed to allow tenants to order the service but I only had one company refuse to provide the service without my permission. Once I gave permission as the owner they did the installation in my tenant's name

     I used to give all my tenants a fire extinguisher when they moved in. I got a great response to this. I got to show my tenants how much I cared for them. I stopped doing that for the same reason. If the tenant should reach for the fire extinguisher I gave them and it failed to operate for any reason I could be held liable for their losses or injuries. What a Country.