Portico shares some of the top entry system features for multi-residential properties that could positively affect the return on investment (ROI) for investors.
When it comes to keeping multi-residential apartments secure, flexible entry systems and remote access control solutions are becoming supremely popular, and for good reason. Access control systems have evolved to become pivotal in optimising community complex access by enhancing security, accommodating management flexibility, and reducing the spread of disease through touchless technologies.
Not only can modern entry systems create these benefits, but they can also have a direct impact on your return on investment (ROI) as a HMO landlord or multi-residential complex owner. Below, we explore how.
Remote, mobile-based management
Many residential building entry systems still operate with encrypted key fob door lock systems. While they are admittedly more secure than traditional metal keys, they still require more management than the latest technologies now available.
Mobile-based entry systems now integrate with cloud-based software to enable authorised access via smartphone apps instead of the need for any physical credentials. As a result, smartphone access is not only more convenient for residents, but it’s also easier for owners and security personnel to manage.
With no physical credentials to order, disperse and keep track of, smart tech based access control systems require less physical management. Residents are also much less likely to misplace their smartphones or lend them to anyone unauthorised, further improving security.
Low contact solutions
Amenities play a key role in attracting and retaining tenants, and after the chaos of the pandemic, everyone's minds are firmly set on minimising contact to reduce disease transmission.
Keyless door entry systems that are activated via mobile credentials are the ultimate solution for touchless entry, especially when combined with automatic doors or gates. Some access control systems even offer advanced motion-detection technology to activate unlocking without even requiring the user to open up the mobile app on their phone.
These contactless, high-tech entry solutions not only offer practical and attractive hygiene solutions to tenants, but are also ultra-modern and progressive. These systems give tenants a feeling of exclusivity and security, which helps to attract and retain them, thus positively affecting ROI.
Video-enabled building entry systems
Tenants will pay more for an apartment complex that features superior security systems, such as those that are integrated with a video-enabled building entry system.
With video-enabled entry systems, tenants can grant their guests access to the complex from the comfort of their homes. Security is, of course, enhanced with technology that facilitates live video footage.
In addition, video-enabled entry systems do not require supervision by a third-party company. While many complexes integrate their video intercom systems with daytime concierge staffing to assist with guests' needs and deliveries, etc., this is not always necessary, depending on the size of the multi-family apartment building. Either way, saving money on paying for system supervisor costs can help towards further increasing ROI. Video-based intercom systems provide added security protections, and residents and staff can alert the authorities directly in the case of any potential incidents where help is needed.
Multi-factor authentication (MFA) should be enabled with access control systems for optimal protection. Using a contactless, mobile-enabled entry system with added authentication mitigates potential security threats. With two-factor authentication (2FA) built into smartphones, using mobile access control ensures the greatest level of entry security.
MFA should be utilised across the entire security system for optimal protection throughout the complex. So long as the technology you choose allows for a convenient, seamless, and ideally touchless experience for its users, residents will be attracted to the level of security and protection that the complex provides, and will be willing to pay a premium for it.
Premiums paid for superior home security
Everyone wants to feel supremely secure in their own homes, and most residents will gladly pay a premium for advanced technologies that better protect their safety and assets. This, in turn, boosts your ROI as a multi-resident complex owner.
Let's say that residents may be willing to pay 5% more to live in a complex that features a high-tech, mobile-managed, cloud-based security system that supports touchless tech and incorporates video-enabled entry. When you consider this percentage based on a monthly rental of £2,000, an additional £100 per month from each tenant would soon go beyond covering the cost of installing such a sophisticated system and start significantly increasing your ROI as a result.
In addition, the costs saved from flexible management options and minimising third-party security fees make installing a high-tech security entry system a no-brainer for increasing ROI.
*Portico is a residential estate agent offering flats, houses and other properties for sale and to rent in London.