Security needs of Rental management companies

Rental management companies have a special interest in the features and benefits of access control, and are strong candidates for managed access control services. The clients rely on their rental management companies to oversee the operation of a variety of multi-tenant commercial properties that include the following:

• Malls of all sizes
• Multi store retail facilities
• Professional office buildings
• Commercial suites

On the residential side, building owners or owner associationsrely on property managers to care for properties that include:

• Apartment buildings
• Multi-family housing
• Condominiums

For both commercial and residential facilities, the rental management companies take care of all tenant and building services. Rental management companies are responsible to manage leasing and rent collection, advertising and marketing, facility maintenance and grounds keeping, utilities and all other aspects of day-to-day operations. For the security dealer, the rental property manager is also responsible for the security of the general facility and common areas as well as for each tenant’s space.

The security steps taken by rental management companies are as follows:

• Tenant Screening: The full and proper screening or testing of an applicant’s credit, criminal history, rental history and ability to pay. The tenant’s screening is the first step for the security of the owner’s assets. They check all previous records of applicant and then proceed further to the next step.

• Lease monitoring and enforcement: Second security step for rental management companies is lease monitoring and enforcement. Lease contraction or accepting rent using legal documents approved for the area in which the property is located. Land leasing and monitoring includes transaction costs of enforcing labor effort legally with a proof.
• Install a security system: The rental management companies give firs preference to install a security system especially in residential areas. The rental management companies insist residential owners to install a security system to secure their assets. The benefits for the property owner live on after owner leave, enticing security-conscious prospective residents who are looking for an alarm system as desirable amenity.

• Mechanical Locks v/s Electronic Access: Building owners rely on their rental management companies to free them from day-to-day responsibilities. In a rented space, occupant turnover is a way of life. There is a constant stream of tenants coming and going which creates a special physical security problem. Each time a tenant leaves, the rental property manager collects the keys and to ensure security and safety of new tenant, the rental property managers will change the locks very often. There are many issues of replacing locks that simply wear out or malfunction, especially in residential area properties, evictions are common. Electronic access control systems using electromagnetic locks offer the advantage of outlasting their mechanical counterparts because there are no moving parts to wear out.

Author’s Bio:

Patrick, head of an asset management company, is highly experienced in this field since many years. He regularly deals with Rental Property Management Companies and likes to share some useful points of his extensive experience.

 

Tags: Business, Leasehold estate, property management, Property manager, Real estate, rent, Rental Property Management Companies, Tenant screening

Category: Business