The survey by the Institute of Real Estate Management (IREM) indicates that 46 percent of respondents say tenants requesting more security expect building owners to absorb the cost. By comparison, 35 percent report that tenants expect added security costs to be passed along to them while 15 percent say that tenants willingly will foot the bill.
The top five security problems reported were: car crime, vandalism, controlling access to buildings, theft and robbery, and burglary/break-ins/trespassing. The top five security measures most often requested by tenants were: implementing or improving security officer service/escorting; closed circuit television; access control; more police patrolling/police contact; and improved mailroom/parking security.
The survey of IREM members was completed by 486 respondents. The median size of the properties reported on is 227,948 sq. ft. for commercial. The property managers surveyed were IREM members who have earned the organization’s Certified Property Manager (CPM) designation and who manage all types of real estate property.
According to the survey, 51 percent of respondents said that security measures have had no effect on net operating income (NOI), while 33 percent say they have decreased NOI. Only 10 percent report that security measures have increased NOI.
In addition, 85 percent of those surveyed said tenants do not complain about being inconvenienced by security measures, and among the remaining respondents, 14 percent said that tenants complain somewhat and 1 percent said they complain a lot about being inconvenienced.
When asked to characterize property owners’ security concerns over the past 12 to 18 months, 60 percent of respondents said they have stayed the same while 37 percent reported an increase in such concerns. Only 3 percent of respondents said that owners have become less worried about security issues during the last 12 to 18 months.
