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Apartment Security: A Note on Gated Access and Rental Rates

Author

Listed:
  • William G. Hardin III

    () (Mississippi State University, Mississippi State, MS 39762-9580)

  • Ping Cheng

    () (Salisbury State University, Salisbury, MD 21801)

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.

Suggested Citation

  • William G. Hardin III & Ping Cheng, 2003. "Apartment Security: A Note on Gated Access and Rental Rates," Journal of Real Estate Research, American Real Estate Society, vol. 25(2), pages 145-158.
  • Handle: RePEc:jre:issued:v:25:n:2:2003:p:145-158
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    References listed on IDEAS

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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