As the US’ largest city, New York’s population grows at a rate of around 0.71% every year, which is no real surprise given the Big Apple’s incredible diversity, unrivaled job opportunities and truly world-class infrastructure. But, in such a bustling metropolis, and with the average three-bedroom home standing at just $258,734 across the whole state, the difference between a quality home and an average piece of real estate can be huge. So, what are the top considerations when purchasing your next condo in NYC?
Whether you’re looking into purchasing a new condo for yourself, or looking to improve your rental property business amongst New York’s growing rental market, security and safety should always rank highly amongst your considerations.
Though as a whole NYC is considered fairly safe for its size, any city with a population of over 8 million will be somewhat susceptible to burglaries and petty crime, with these risks being slightly elevated in multi-person housing units like condos. Having said this, all it takes is a little investment in the right modern security measures to ensure that your new condo will be protected for the long-haul.
Video security systems
One of the simplest yet most effective ways to bar unauthorized persons from your condo is through a trusted video security network, specifically one integrated with your building’s access control system. Installing a selection of cameras facing any and all communal entrances means, no matter the time of day, you and your building’s security team will have a visual confirmation of all comings and goings.
Modern security cameras can be designed to only activate when movement is detected, and be programmed to send instant alerts to chosen admins should any suspicious activity occur. Of particular importance is that these systems can be calibrated to grant access only to recognized individuals, completely locking would-be intruders out of your access control system and its locking mechanisms.
Leveraging this tech alongside a cloud-based operating system can make for an even more streamlined operation, making sure that no matter whether you’re inside the property or not, you’ll always have access to a live camera feed. With cloud-based functionality, editing authorizations, reviewing recorded footage and manually operating your locking mechanisms can all be done remotely via a linked smart-device.
Touchless door access control
Touchless access control devices come in many different forms, from key fob systems and card-based hardware, to those that make use of biometric readers and facial recognition software. But, no matter which style your building is fitted with, the benefits of these systems are simply too plentiful to ignore.
Primarily, touchless access control systems remove some of the safety issues posed by traditional keys, as they’re much harder to copy and can be remotely deactivated should any fobs or cards be misplaced. Alongside improved security, touchless door locks are also incredibly hygienic, greatly reducing the risk of viral transmission which can be elevated in multi-tenant buildings such as condos.
As an extra bonus, touchless access control systems can also be managed remotely, affording building owners the freedom to edit permissions, modify authorizations and set customized automations remotely as and when they choose. This is ideal for landlords with multiple units as you’ll no longer need to pay a physical visit to each site every time a tenant needs their permissions altered.
In terms of physical infrastructure, a convenient and seamless visitor check-in will go a long way to protecting your building from unwanted guests. Whilst security cameras have been shown to deter up to 83% of intruders from attempting a residential break-in, ensuring you have a well-kept visitor log will help to increase the accountability of tenants should any security breaches or other concerns occur.
Look for a condo with a single, easily accessed front desk, as with only one main entry point it will be much more difficult for visitors to avoid checking in. Some visitor check-ins nowadays feature QR codes that offer guests access to a virtual log book without actually needing to speak to a receptionist. Needless to say, this can be incredibly useful during busy periods or at times when the front desk is unoccupied.
Additionally, access to the main building should always be locked behind the checking-in process itself, whether that be through a one-time code or a digital key sent to the visitor’s smart-device. This way your building management team can always be sure of exactly who is on the premises at any given time.
Single access credential
Whilst it may seem more secure, when restricting access to multiple areas of a condo complex, to do so using several different passwords, fobs and key cards, in reality remembering which credentials match which locks can be surprisingly difficult. Especially if this is required on a daily basis, or if tenants are frequently needing to travel through restricted areas in order to reach their own units throughout the day.
A much more streamlined approach lies in compiling these credentials into one platform, for example through the use of a single sign-on function. This process allows users to access multiple applications from within one system, without needing to re-authenticate their information with each individual use.
Storing your personalized passcodes on one device in this way means your smart-phone, key card or fob can act as a singular access credential to be used across each and every restricted access point, and if the device becomes lost or stolen, your credentials can be deactivated and replaced with ease remotely.
Next to the location of the property, the inclusion of any on-site amenities and, of course, your individual unit’s listed price, the quality of your security measures and how user-friendly the building’s access systems are must rank high on your list of considerations when purchasing your next condo in NYC.
By ensuring that your new condo is well-protected, fully secure and easily monitored at all times, both you and your tenants can be free to truly enjoy the unmatched highs of one of the greatest cities in the world.
We hope you found this blog post on Considerations When Purchasing Your Next Condo in NYC useful. Be sure to check out our post on Apartment Vs Condominium: What Is The Difference? for more great tips!
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