Apartment Security: A Note on Gated Access and Rental Rates

14 Pages Posted: 7 Jan 2007

See all articles by William G. Hardin

William G. Hardin

Florida International University (FIU) - College of Business Administration

Ping Cheng

Florida Atlantic University - Finance

Abstract

The effect of gated access restrictions on garden apartment rents is empirically evaluated. Garden apartment rents are positively related to the presence of gated access constraints, although the combination of in-unit alarms with gated access is rent neutral. One-bedroom and two-bedroom units garner higher rents with the presence of gated access constraints. The research extends prior research on high-rise units indicating that 24-hour security positively impacts occupancy and gross rental income. Given that the study uses data from only one market, additional research for other cities and regions is warranted.

Keywords: apartment, garden, rent, gated, security

JEL Classification: R10-15, R19, R21, R31

Suggested Citation

Hardin, William G. and Cheng, Ping, Apartment Security: A Note on Gated Access and Rental Rates. Journal of Real Estate Research Vol. 25, No. 2, 2003, Available at SSRN: https://ssrn.com/abstract=955294

William G. Hardin (Contact Author)

Florida International University (FIU) - College of Business Administration ( email )

Miami, FL 33199
United States

Ping Cheng

Florida Atlantic University - Finance ( email )

777 Glades Rd
Boca Raton, FL 33431
United States
561-297-3456 (Phone)
561-297-3686 (Fax)

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