Apartment Security: A Note on Gated Access and Rental Rates

William G. Hardin () and Ping Cheng ()
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William G. Hardin: Mississippi State University, Mississippi State, MS 39762-9580
Ping Cheng: Salisbury State University, Salisbury, MD 21801

Journal of Real Estate Research, 2003, vol. 25, issue 2, pages 145-158

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.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2003

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