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2020 Vision for Multifamily Property Physical Security

Five Statistics to Focus Your Energy This Year

Transform Physical Security and the Value of Your Multifamily Portfolio

Property owners and managers like you are expected to answer some big questions as you create short and long-term strategies for your properties. To better understand the market need, Brivo and Security Management Magazine recently surveyed more than 500 security professionals on their vision to improve physical security practices and make better security decisions. This report shares the goals, challenges and positive impacts revealed in the survey.

Your Multifamily Technology Opportunities

Focus on Initiatives That Deliver the Greatest Impact

Transforming a multifamily property is about attracting more residents, meeting evolving resident requests, and combating flat or declining rental rates. One of the factors in achieving success in these areas is your access to a unified security and cross-functional platform that helps you gather actionable insights.

What is your organization’s
top physical security goal for 2020?

Your main focus should be to bring it all together. From your physical security platform to your visitor management system and smart apartment offerings, your multifamily property runs better when it all works together. Bringing these capabilities together also means you can adjust rental rates to reflect the benefits that residents use every day. Your goal, therefore, is to partner with a cloud-based security provider that also helps grow your technology ecosystem.

Integrate More to Secure More

In particular, multifamily properties are looking to integrate systems and connect automation throughout the building to create the best living experience. These integrations will also make daily management responsibilities much easier, and improve access to data that tells a complete story of the property.

When you integrate physical security and access control with systems like visitor entry, you ensure only current residents can let visitors into the building. And, you can make it more convenient by allowing residents to use their phones to grant visitor access. An integrated technology platform also allows you to track data to prevent unsecure visitor habits.

Which system is your top priority to integrate
with your physical access control solution?

Challenges to Reach Those Goals

Overcome Barriers That Stand in Your Way

While multifamily properties have this vision of a cloud-based, integrated, data-rich multifamily platform, there are barriers to overcome. Any new technology requires a budget. Change also means you need alignment throughout your organization and executive/investor buy-in. Finally, it is important to prove that a new investment will drive positive ROI and create unique property appeal for your market.

What is the major barrier to the adoption of
new physical security technology?

Multifamily Table 2

As you evaluate physical security providers, ask about their pricing and subscription model options. Do they offer financing for customers? Create a case for how that new platform will deliver increasing ROI over time. Beyond the numbers, evaluate provider demos to see how the platform will extend to benefit the whole property management team and ultimately future-proof your property.

The Potential to Differentiate Your Property

Elevate Resident Attraction and Retention

 

At the end of the day, you want to motivate more people to come and more people to stay in your properties. The ability to improve your residents’ experience and increase retention has never been greater. If you implement cloud-based security technology, you can deliver resident satisfaction such as one app that gives them access throughout the building and allows them to control in-apartment features like thermostats and lighting. And, most importantly, residents will feel safe and secure in your building – and their home.

The right balance of security and convenience makes residents feel like they belong at your property and never want to leave.

Do you think having cloud-based access control   

will improve your resident attraction and retention?

Improve Security While Delivering Convenience

 

In addition to resident benefits, your property management staff will also benefit from remote management and a centralized platform that simplifies their job. With cloud-based technology, they can manage the property from any mobile device, easily assign mobile credentials and create access schedules. They can also extend those benefits to systems like visitor entry solutions to ensure the property stays secure.

Which cloud-based access control features

would be most important to your property security?

With the right physical security provider, you can deliver the transformational features and conveniences that your staff and residents expect.

Read this Multifamily Guide to learn how better physical security with Brivo and broader PropTech solutions increases the value of your property.