The key to successfully building wealth is choosing the right investments. For most people, finding investment opportunities that provide consistent returns is a top concern. Real estate is one of the most lucrative and stable investments available to modern consumers. Rental properties can be exceptionally lucrative if they are properly managed.
Over 43 million Americans currently rent the homes and apartments they live in. If you want to reduce tenant turnover rates, you have to go out of your way to make your renters feel safe and secure. Making your rental properties more secure is easy if you follow the helpful tips below.
Upgrade the Locks On Your Rental Properties
Choosing the right security upgrades for your rental properties isn’t easy. There are tons of products designed to make residential properties safer. One of the most effective ways to effectively improve rental property security is by replacing your current locks. Relying solely on mechanical locks is a bad decision that can come back to haunt you.
Modernizing your security solutions will be much easier when investing in Bluetooth locks. The electronic locks are extremely difficult to breach and can be opened with either a key, a code or with the help of a Bluetooth-enabled device. You also need to think about adding more security to the sliding glass doors installed on your rental properties.
These doors are notoriously easy to breach, which is why installing better locks on them is crucial. With the help of Lock Connection, you can find the quality sliding glass door locks you need for a reasonable price.
Invest in Better Exterior Lighting
Leaving the outside of your rental properties with inadequate lighting is dangerous. Dimly-lit places are very attractive to criminals attempting to rob someone. Taking the time to tour your rental properties after dark can help you assess how well-lit they are. If you notice that one or more of your rental units have little to no light around them, it is time to make some changes.
Investing in landscape lighting and new fixtures around the doors of your rental properties is a fantastic idea. With the help of an experienced electrician, you can get these new fixtures installed and functional in a hurry.
Screening All Tenants is Important
Renting your properties to reliable and trustworthy tenants should be something you are passionate about. Before offering a potential tenant a rental agreement, you need to find out more about their criminal history. The last thing you want to do is move a hardened criminal into one of your properties. Not only can this be dangerous for you, it can also put your other tenants in a compromised position.
This is why you need to insist on running a background check on potential tenants. With the information from these background checks, you can make an educated decision on whether to offer a particular person a rental agreement.
While securing your rental properties will be costly, it is definitely a worthy investment.