Joe Curd is the Director of Multifamily National Accounts at Stealth Monitoring. Stealth protects assets for businesses with high quality video monitoring and surveillance.
In multifamily, there is a significant worry about security. One of the top reasons a resident does not renew their lease is that they feel unsafe and uncomfortable on a property.
We want residents to feel safe while on the property. Current systems are mostly used after a problem has occurred. Being able to tell residents “we caught it on camera and sent the footage to the police” is not comforting because the crime still happened.
Stealth Monitoring fixes this by using speakers to alert the problem-causer that they’re on camera, scaring them off before there is any real problem.
Also by using 24/7 eyewitness surveillance, self-guided tours become less risky since any damage would be caught on camera. Any attempt at theft would be stopped in its tracks. Many of the reasons that make collecting drivers licenses before touring necessary would be reduced.
In this episode, we covered:
- Why the current security systems on place in multifamily properties (such as closed circuit TV and patrols) are ineffective
- How a reputation for safety issues scares off ideal prospects, particularly for two or three bedroom apartment units
- What additional expenses occur in multifamily as a result of higher crime and safety issues
- What top multifamily investors are preparing for by putting a bigger focus on safety
- Why resident retention and amenity criteria surveys are inaccurate, and what to look for that doesn’t make those lists
- Where self-guided tours are going to be in 10 years
- How a proactive surveillance system fills the holes that a standard reactive system has
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