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Protecting Your Real Estate Investment in 2019

Written by Posted On Wednesday, 13 February 2019 07:51
Protecting Your Real Estate Investment in 2019 Pexels

According to a Forbes column on real estate investment, there’s a palpable anxiety for real estate this 2019. People may be hesitant to invest in real estate this 2019. As Winzer noted, this is because the possibility of a slower economy will decrease the demand for housing or even because the price tag for the investment is rather high. On another hand, this could be a warning for real estate investors who have already joined the bandwagon - how can they protect their hard-earned property from dangers that can cost them more money in the future? In order to safeguard your investment, what are the necessary steps that you should do to make sure all of it doesn’t go to waste?

Addressing The Common Problems of Real Estate Owners

If you’re a homeowner or a real estate investor, it’s hard to keep tabs of everything at once. You can’t simply monitor your home or your vacant property all the time. Not only that, it’s difficult to determine who comes in and out of your property --- you can’t just stand there all day to protect your investment! The list goes on and on, but it all boils down to these common problems:

 

- Anything broken that needs to be repaired or replaced

- Unwanted guests or people coming in or out of the property

- Unwanted guests coming in or out of off-limits areas within the property

- Monitoring tenant safety and security

 

Prevention is better than spending thousands of dollars; to prevent these mishaps, an all-in-one solution can save you from different headaches!

Wireless Alarm Systems: White Knight of the Real Estate Industry

Back in the days, alarm systems are manually set up to catch burglars --- you’ll often see comical adaptations of someone tripping an alarm, catching them red-handed. This 2019, there are fantastic innovations on alarm systems that doesn’t only catch burglars, but can keep track of a lot of things in your properties, too.

Let’s revisit the list above and discuss what wireless alarm systems can do to save your real estate investment from distress.

Anything broken that needs to be repaired or replaced. Freezing pipes. Bursting pipes. Leaks. Anything broken in your property’s system can now be monitored through a wireless alarm system. That’s right; no more guessing if your pipes are too cold or not --- you can even access the temperature control remotely to control the settings! No need to drive to your property every now and then to check for problems! In addition to that, leaks are probably the worst problem that you can encounter. On an average, a slab leak will cost you $2,000 to $6,000 in total for a repair. Depending on the type and severity of the leak, the costs can get more costly! However, installing a wireless alarm system can help you detect even the slightest of leaks in your own property, preventing possible expenses and more.

Unwanted guests or people coming in or out of the property. Do you have a vacant property, but is still hesitant to install an alarm monitoring system? In Joplin, MO, a vacant house was set ablaze by squatters seeking warmth in a cold night. While they did not mean to burn the house down, this could have been prevented if the house has an alarm system that can warn trespassers from infiltrating a property. A similar incident even happened in Dayton, OH! Aside from squatters, vacant, unguarded properties should be wary of copper thieves. An Albuquerque shopping center lost power for 36 hours because of copper thieves --- business owners lost thousands of dollars in sale during the outage. If it can happen to businesses, it can happen to homes you own and invest in, too. If you’re strict with unwanted guests in the property, the alarm system can help you regulate people coming in or out of the property. You can limit the people coming in your property with PINs or passes. With that being said...

Unwanted guests coming in or out of off-limits areas within the property. You can even regulate people within your property! You can set a specific pass for people doing maintenance work for certain areas without worrying if they’ll be wandering around the premises. Guests can also have limited access --- you can bar them from accessing certain floors or buildings or doors. The possibilities of regulation and control is limitless.

Monitoring tenant safety and security. This is the primary concern of all rental property owners, or even homeowners themselves. Aside from keeping your tenants or your family safe and secured, it also adds more value to your property as home security can even help in reducing premiums for home insurance by even up to 20%.

It All Begins With Acknowledging The Problem (or Problems)

Acknowledging that you may encounter problems with your investment is the first step in securing it. Typically, people invest in real estate thinking that it’s a solid purchase --- no need to take it to the mechanic for periodic maintenance or you don’t have to rent a locker to keep it in place. What they do not know that there are many underlying problems that can degrade the property’s value, which will not be beneficial for the owner in the long run. Recognizing potential hazards or dangers in, on, and around your property can help you build a checklist of things you need to secure; it’s not all about burglars! It’s either you spend thousands of dollars in repair or replacement for something that could have been prevented, or you may even lose your investment in just a matter of minutes!

 

With the soaring cost of real estate investments and the threat of a slower economy to come, there’s no doubt that we need to protect what we have already worked hard for. Even if we do not see the immediate need to protect our assets, it’s a good thing to keep in mind that acquiring one property after the other isn’t easy to do. A wireless alarm monitoring system is a good investment to ward off these threats and it can add value to your properties in the long run.

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Emily Harper

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