Insecurity has become a significant concern not just for homeowners but in rental property investment as well. A crime data report reveals that the crime rate in short-term rentals rose to 55% by 2020.
Protecting the property and tenants is a priority when you invest in vacation rental property. This is vital, especially in high-traffic areas that are at risk of petty crimes. Thus, landlords are in the spotlight to boost their short-term rental security measures.
Consequently, as a short-term rental owner, there are things you need to consider to keep your guests and yourself as a host safe. It’s crucial that you prioritize these important steps to ensure the long-term safety and security of your short-term rental investment.
Now, let’s get into the tips on how to ensure that your short-term rental property is safe and secure. Let’s indulge!
- Install Security Cameras
A reliable STR strategy guarantees $250K annual wealth created per property. When you invest in vacation rental property, you can expect steady annual ROI and cash flow. This means you’ll earn passive income from rental property if you have other things going on. Who would want to risk all that?
Visible security cameras can deter burglaries or other criminal activity. Besides, no thief will target a property under watch. The security camera footage also acts as evidence if a crime occurs in the short-term rental. This makes it easy for the law-enforcers to help identify and arrest the perpetrator.
Moreover, cameras can allow you to monitor the property remotely. Most people who buy a vacation rental property live far away. So, installing security cameras will ensure that guests follow house rules without causing any damage.
Finally, security cameras can provide peace of mind for you and your guests. Everybody will sleep at night, with the surety of their security and comfort.
Nonetheless, it’s crucial to note that installing cameras in your short-term rental is not just something you do out of the blue. There are relevant laws and regulations regarding the use of cameras in rental property investment. Also, it helps to inform your guests of the presence of cameras on the property.
- Use Smart Locks
Smart locks provide security and convenience for you and your guests at your short-term rental property. It allows guests to access the property without needing a physical key exchange. Plus, this is more convenient and secure than traditional locks.
You can also control intelligent locks remotely. It’s straightforward to grant or revoke access to the property from anywhere with an internet connection. This is especially useful if you can’t meet guests to hand over keys in person.
Additionally, smart locks have advanced security features, like encrypted codes and biometric authentication. Hence, you can easily prevent unauthorized access to your short-term rental.
Smart locks are easy to use and do not require guests to carry around a physical key. Gone are the days when people would carry keys everywhere, risking loss or stealing of the keys. With smart locks in your short-term rental investment, setting specific access periods for guests is easy. This is vital if multiple guests stay in the property at different times.
- Have a Plan for Emergencies
Emergencies are inevitable!
An emergency plan outlines the necessary steps to take during a fire or natural disaster. This means that you and your guests will know what to do in an emergency. Thus, you get to reduce panic and ensure that everyone remains safe.
An excellent short-term rental strategy includes contact information for emergency services. It can be the fire department, police, property management company, or insurance provider that comes quickly in an emergency.
Among the buying rental property tips, there should be an emergency plan that outlines evacuation routes and procedures for the property. This helps everyone to know where to go and how to exit the property safely in case an emergency occurs.
Furthermore, your emergency plan should include information about available emergency supplies. These include first aid kits, fire extinguishers, flashlights, water, and healthy snacks. You can be locked up for an extended period, and you definitely need to feed.
Lastly, it’s essential that every guest remains aware of the emergency plan and what to do. Therefore, it would help to have training or information sessions together with detailed handouts to ensure that guests are prepared. This is also a must especially if your property is located near bodies of water, cliffs, or fault lines, etc.
- Consider Purchasing Insurance
Are rental properties a good investment? Absolutely! Well, as long as they’re insured. Insurance can help protect your property against damages or losses from a guest’s stay. This includes accidental damage to the property or theft of personal belongings.
Insurance can also provide liability coverage if a guest is injured while staying at the property. This protects the landlord from financial responsibility in an accident or injury. Having insurance also provides peace of mind for you and your guests. It gives everyone a sense of security and protection during an unforeseen event.
In addition, having your rental property insured also protects you from financial responsibility against acts of God such as earthquakes, tsunamis, tornadoes, and more.
It’s important to note that insurance policies offer different levels of coverage. You should carefully review the terms of your policy and choose one that meets your specific needs. You see, insurance can be very reliable.
- Check References
An excellent rental properties investment strategy includes vetting guests to identify untrustworthiness. This helps to make informed decisions about who you want to stay with at your short-term rental.
Depending on your particular needs and concerns, background checks on potential guests would be ideal. This can help you identify any potential red flags or issues that may affect the safety and security of your property.
Online platforms like review sites or social media can help you know the potential visitor’s reputation and reliability. Reading reviews from other hosts or landlords gives an insight into what to expect from a client.
Also, it’s a good idea to communicate with potential customers before they book your property. This way, you can get a sense of their personality and intentions. Thus it’s easy to decide whether or not you want to host them.
- Perform Regular Maintenance
Ensuring all appliances and equipment are in good condition can help prevent accidents or injuries to visitors. Testing smoke detectors, for instance, ensures proper functioning to protect against fires.
Regular maintenance is also an effective way of preventing theft or other security issues. When investing in short-term rentals, you should have a maintenance crew that ensures all doors and windows are correctly locked. It helps to prevent unauthorized entry with or without guests inside.
Moreover, regular maintenance improves the value of your property by keeping it in good condition. This is vital if you want to continue your STR strategy for an extended period.
Finally, regular maintenance ensures guests have a positive experience while staying at your property. This ensures that there are no broken cupboard hinges, all lightbulbs are functioning and many more. A well-maintained short-term rental makes guests leave positive reviews and they’re more likely to book a stay again.
Like every significant business venture, rental property investment is not without its risks. Before opening your doors to short-stay guests, you should take diligent measures to ensure safety and security. This includes prevention against property loss, damage, and injuries to visitors.
Reducing the risks to your guests and properties costs time, money, and energy. But, extreme safety and security will allow you to focus on your short-term rental investment efforts. Most importantly, guests will value their stay at your property because of assured safety and security!