IREM survey shows that tenants don't want to pay for security.

Property owners are challenged to meet tenant demands for new security measures because many tenants don't want to pay for them. The often negative impact security measures have on Net Operating Income (NOI) magnifies the challenge.

These are among the findings of an online survey conducted by the Institute of Real Estate Management (IREM). IREM members who have earned the organization's Certified Property Manager designation and who manage all types of real estate property participated in the survey.

According to the survey, a near majority (46%) of respondents say that tenants requesting more security expect the building owners to absorb the cost. By comparison, 35% reported that tenants expect added security costs to be passed along to them while 15% say that tenants willingly will foot the bill.

As for the impact of security measures in place on NOI, 51% of those surveyed say they have had no effect while 33% say they have decreased NPO. Only 10% report that security measure have increased NOI. Most of the survey respondents (85%) say tenants do not complain about being inconvenienced by security measures, which is a clear sign that they are valued. Among the remaining respondents, 14% say that tenants complain somewhat and 1% say they complain a lot about being inconvenienced.

When asked to characterize property owners' security concerns over the past 12 to 18 months, 60% of respondents say they have stated the same while 37% report an increase in such concerns. Only 3% of respondents say that owners have become less worried about security issues during the last 12 to 18 months.