The Balance between a Building’s Safety and Its Revenue: What Every Harlem Condo Board Should Examine - article banner

Keeping your building safe is rather non-negotiable. But, how do you know that it’s really safe and how much should you budget to ensure that safety? Once a condo board knows that the building is functionally sound, decisions have to be made about how much extra money to invest in additional safety, which is in high demand from owners and buyers in today’s market.

There are a lot of ways to approach your building’s security. If your condo board is not already working with a Harlem property management company, now is a good time to start. You’ll find guidance, support, and most importantly – resources.

To Doorman or Not to Doorman

A building that employs a 24/7 doorman is going to be highly desirable. Homeowners love this service, and they’re often willing to pay more for a home in a building that offers this type of security.

However, they’re not cheap. Your condo board may now be trying to decide whether or not to employ a doorman around the clock and if so, how to pay for it. If you’re crunched for cash but you recognize the value that a doorman can provide, talk to a property manager. You may be able to fund this initiative in ways you haven’t yet considered. Or, you could stagger the shifts to have the building covered during high traffic times.

Investing in Security Technology

Good technology doesn’t always replace the security and the convenience that many people enjoy living in a building with a doorman, but there’s a lot more tech available now than there was even five or ten years ago. Smart cameras, smart doorbells, virtual doorman services, and increased building surveillance are available to make your community and even your entire neighborhood a bit safer.

You can leverage the technology you currently have and analyze the additional options that may be out there. Again, an investment will be required if you decide to beef up what you already use, but it will be worth it and a great selling point in attracting new buyers.

Harlem Property Managers and Options

Part of keeping your condo building safe and secure but still accessible to your homeowners and their guests is understanding the neighborhood. Harlem has undergone what some would call a revitalization over the last decade. Others would call it gentrification. Some love it and some are not thrilled with it.

Wherever you come down on where the neighborhood has gone and what the community has become, keeping it safe is still a priority for everyone. Work with property managers who know the area. It’s not always easy to satisfy everyone when you’re managing an entire building. In fact, it’s impossible. But, with the same common goal, a good property manager can use their local expertise to help you look at the options available and decide on what will be most effective and affordable for your building and your residents.

There’s no one-size-fits-all plan when it comes to security and safety. Your property manager will understand that and help you make better decisions. You can expect a board presentation that’s based on experience and data as well as a deep cost/benefit analysis.

This is what we do for condo boards like yours. If you have any questions, please contact us at Harlem Property Management.

meeting Harlem Property Management is the authority on co-op and condo building management in Upper Manhattan and a member of the Real Estate Board of New York. We specialize in managing condos, co-ops, and multi-family buildings up to 99 units.