When you make a significant investment into a commercial property, it’s only natural to want to protect it at all costs. The last thing any investor wants to do is spend more money on their commercial building after tenants or burglars decide to cause damage.
There is no sure-fire way to stop property damage or theft from occurring, but any of the measures below might be how you mitigate the risk.
When you purchase commercial real estate and decide to welcome new tenants, don’t be afraid to run a commercial tenant background check. You can do this yourself to learn more about their past agreements and payment history, or you can hire a property manager to run these checks for you.
Property managers can even help you narrow down your tenant options and take over the care of your building to make sure it’s well looked after. This one simple action may be the difference between tenants you can trust and tenants you can’t.
If you have multiple tenants in a commercial building you own, consider installing cameras and alarm systems. While your tenants likely have their own CCTV cameras for data collection and security, there’s no harm in installing them in shared spaces and outside the building. These can be a form of protection for both your commercial building and your tenants.
Depending on the type of commercial business you own, installing access control systems may be something you consider for security reasons. For example, if you own an office block, you might decide to install key cards or fobs for people to access specific areas. Pin codes for common areas, parking garages, and cleaning closets may also add a layer of protection for your assets.
Access control systems are also something your tenants might decide to install for themselves, especially if they’re a retail business or company deciding to lease out your entire building.
Every year, billions of dollars are spent cleaning up graffiti on public and private property. While exterior lighting around your commercial property may not entirely remove the risk of such damage, it undoubtedly makes your property less desirable to vandals.
The more visible all entry points and windows are to people walking by, the easier it is for someone to get caught causing damage or breaking in. Consider installing exterior lighting inside parking lots and removing any bushes or shrubs that may provide would-be criminals with somewhere to hide.
Check Your Property Regularly
Crime is bad for business, so the more proactive you are at preventing it, the more you and your tenants will benefit. Make time for yourself or your property manager to visit your commercial building often and check that the security measures you have in place are working as they should.
Fix any broken windows and doors, test your security systems, and check in with tenants to ensure they feel safe. You may even like to make connections with your local police force to learn about crime rates and extra steps you can take. These small measures may be all it takes to keep your building and its occupants safe.
The last thing any commercial property owner wants is their building to be at risk of damage or theft that costs them and their tenants’ money. Always screen tenants, be proactive with security measures and hire property experts to keep your investment as safe as possible.