- Fire protection systems should be installed in each apartment and public area to protect against fires.
- Installing security cameras can help deter crime and provide evidence if necessary.
- Investing in weather-proofing features can help protect your building from extreme weather conditions.
- Ensuring there are multiple exits with appropriate lighting is essential to ensure tenants can escape safely in an emergency.
This is a contributed post and do not necessarily reflect the opinions of Meet The Harris Family.
As a property investor or landlord, it is your responsibility to keep your building and tenants safe. To ensure you’re on the right track, investing in the ideal upgrades can save you time and money. Here are the four most essential investments that property owners should consider when upgrading their apartment buildings.
Fire Protection Systems
According to the National Fire Protection Association, an average of 26 percent of house fires were reported from 2015-2019. That means being proactive in protecting your property against fires is essential.
Investing in an effective fire protection system will give you peace of mind that your tenants are safe and protect your investment in a fire emergency. Depending on the size of your building and its current fire safety measures, there are different options available:
Smoke Detectors
Smoke is the primary indicator of a fire, and smoke detectors are one of the least expensive but critical items for any property. Installing smoke detectors in each apartment and public area is the cheapest and easiest way to protect your building from fire.
Fire Extinguishers
In addition to smoke detectors, fire extinguishers should also be installed on each floor of your property. These can help quickly and efficiently deal with small fires to prevent them from growing, and they are relatively inexpensive to install.
Sprinkler Systems
A sprinkler system on your property is an excellent investment for any property owner. It detects heat and smoke, automatically dousing the fire with water and giving tenants more time to escape from the building.
Security Cameras
Installing security cameras around your apartment complex is a great way to deter crime and increase tenant safety. Security cameras also provide evidence if something does occur, allowing you to take action quickly if necessary.
It is important to note that state laws vary when recording tenants without their knowledge or consent, so check local laws before installing security cameras at your property. Additionally, ensure that you install the cameras with discretion; this will help ensure tenants feel safe while providing adequate security measures.
Weather-proofing
Especially in areas experiencing extreme weather conditions, it’s essential to invest in weather-proofing your property. A few critical investments can help protect your building from the elements and prevent costly damage, such as the following:
Submersible Pump
Flooding can cause significant property damage, so having a watertight basement with a submersible pump is essential. An electrical submersible pump (ESP) will automatically kick on when water levels reach a certain level, preventing flooding. To make it more efficient, your ESP should come with a variable-speed drive, which helps control the amount of water that’s being pumped. This will allow you to be more in control of the situation if flooding does occur.
Surge Protectors
Lightning strikes can cause significant damage to your building’s electrical systems, so installing surge protectors can help reduce this risk. Surge protectors act as a buffer between your building and the electrical systems when lightning strikes, protecting your property and electrical systems from potential damage.
Roofing
The roof of your property is one of the most vulnerable areas to extreme weather conditions. Investing in a quality roof materials can help protect your building and its interior from water damage, hail damage, and other weather-related issues. So, make sure to inspect your roof regularly and have it repaired or replaced if necessary.
Emergency Exits
Finally, it is crucial to make sure that there are multiple exits available for tenants in an emergency. Make sure all exits are marked with signs indicating exit routes and have appropriate lighting so tenants can easily find their way out in the dark if necessary. Additionally, ensure all exits remain clear at all times, so you can easily access them without obstacles blocking the way out. This way, your tenants can escape safely in case of an emergency.
These four investments are essential for any property owner, as they can help protect your building and tenants from potential disaster. Investing in these upgrades can be a great way to keep everyone safe and increase your property’s value. So, consider these four investments before making any other upgrades or renovations. It’s the best way to ensure your property is secure and ready for anything.
