Security
A multifamily owner has an affirmative obligation “…to provide a safe and habitable rental property and is responsible for ensuring that basic safety standards are put in place on the premises and their upkeep. This includes changing locks, installing locks on windows and doors, and emergency exits. The owner has a legal obligation to maintain common areas of multi-occupancy dwelling spaces and warn tenants of past criminal activity.” – Adams Law Firm
Beyond the preceding, owners are responsible for making sure common areas are well lit and that the lighting remains fully functional at all times (i.e. make sure to replace bulbs and any non-functioning fixtures). Cameras can be added for common areas as well but they too must be fully operational 24/7 for the owner to avoid potential liability should a criminal event occur. Two articles below address security issues at apartment properties and are definitely worth your time in reviewing and understanding. More importantly is to be sure on-site management and maintenance teams at your properties are aware of the critical importance in proactively maintaining all elements of security at the properties.
Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management and the entire scope of a multifamily investment. Specific diligence is on property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets (10-to-60-unit properties) and provides a full range of brokerage services for property listing and sale.
Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides.
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