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Updated almost 3 years ago on . Most recent reply

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Michael Colello
  • Investor
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Votes |
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Should I cover the cost of security cameras for my tenants?

Michael Colello
  • Investor
Posted

Hi BP, in one of my rentals in Indianapolis, I have an amazing tenant who always pay on time, really takes care of the property, and seems to be really making this a long term home.  Unfortunately they have had their car broken into twice now and asked if they can install security cameras.  They weren't asking me to pay for it but I'm wondering if it might be a good investment for me to do so.  I did just bump of their rent a little bit but since they just signed a new lease, I couldn't increase any further until next Jan.  

I saw SimpliSafe outdoor cameras were only $170 each and the tenant could install it themselves.  I personally think it could be worth it to buy 1 or 2 to make the tenant feel safe in the house and further incentive them to stay long-term but I'm not sure if this makes the most business sense.  

Has anyone seen a big difference in rent or value in the house if they have security cameras?  Is SimpliSafe the way to go?  I plan on running this by my PM as well but any input here would be greatly appreciated thanks everyone!

Most Popular Reply

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Greg Scott
#3 General Real Estate Investing Contributor
  • Rental Property Investor
  • SE Michigan
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Greg Scott
#3 General Real Estate Investing Contributor
  • Rental Property Investor
  • SE Michigan
Replied

As a landlord you add liability if you have a promise, overt or implied, that you are offering safety.   Security cameras imply you are providing safety.  We only install surveillance cameras because we use them to observe our property.

Cameras can be a bit of a mixed bag.   First, they send a message, good or bad to prospective residents.  Second, our experience is that they are hit or miss on effectiveness.  We can sometimes identify individuals from the camera recordings.  Once we caught someone on camera stealing rent checks at 2AM.  We could make out their face and have them on audio but the 4K camera feed was not good enough to read their license plate number.  So, in the end, it wasn't terribly helpful.

Personally, I like having cameras, which we have placed around our clubhouse.  I can look at them and see if the staff is there or if the snowstorm hit, and generally see the condition of the property any time I want. We use the reolink system which was super easy to set up and viewable from a smartphone, laptop, or on a fixed monitor.   You can customize the alarms and recordings to a great degree. We've had such a good experience, we bought another system for our maintenance shop so we can keep an eye on that too.

*Added photo

  • Greg Scott
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