Budgeting for Video Surveillance

Budget season is the most important annual exercise for any multifamily property. It serves as the financial roadmap to every successful year. In our last article, we focused on why budgeting matters, why it can be stressful, and how to set up for success.

This article will take a deeper dive into supplier partners and the role they play in supporting the budgeting process. We will specifically break down budget needs related to video surveillance and how Watchtower Security has a solution that is designed with budgeting in mind.

Supplier Support During Budget Season

Management companies and ownership groups are tasked with the difficult job of creating an all-encompassing budget. What they shouldn’t have to do is guess what their supplier costs will be. Any supplier serving the multifamily industry should be able to provide clear and accurate information to help clients build an informed budget.

• Will there be pricing changes due to inflation or shifts in the market?
• Are there upcoming contract changes that could affect pricing?
• Are there changes in service frequency or service maintenance cost that will affect the budget line item?

Suppliers should be able to provide transparent answers to all these questions with accurate numbers.

Gathering Supplier Information

A key to a successful budget season is starting early. Management teams should contact suppliers at the beginning of the cycle. Gathering information is a key component. Management teams should expect the following from their supplier partners:

• Speed: Suppliers should be able to provide information quickly to avoid delays.
• Clarity: Information should be concise and easy to understand.
• Reliable pricing: Costs should be stable and free from surprise charges.
• Support with Documentation: A clear contract or proposal that lays out the pricing for the upcoming budget year is favorable. A reasonable margin for potential new or additional services helps avoid unplanned expenses.

Budgeting for Video Surveillance

Video surveillance is a significant and growing trend in the multifamily industry. It is a management tool that can benefit every property, and should absolutely be included in the budget. Whether a site has an existing system or is starting from scratch, a reliable supplier partner can help establish accurate budget numbers.

• Installing a New System: The cost of a system is just the beginning. A comprehensive plan of the coverage and what is included in the service should be provided. Are there upfront costs or out-of-pocket expenses a property needs to be aware of? Understanding every nuance in video surveillance cost is essential.
• Upgrade an Existing System: Will the current camera system last another year? Has the image quality deteriorated to the point of being ineffective? Just because a system is in place does not mean there isn’t the potential for a significant investment that impacts the budget.

• Additional Coverage: Are there areas of the property that have seen an increase in issues? Are there plans to add new amenities? A 2025 Multifamily Drive article highlights some amenity strategies and how they drive value. A supplier partner can provide the cost for expanding surveillance coverage to these new areas.

How Watchtower Helps

Watchtower Security exclusively provides video surveillance solutions to the multifamily industry. Because of this specialized approach, the pricing model is based on how properties budget. Watchtower makes it easy for a management team to know exactly how much it will spend on surveillance year in and year out.

There are no massive, upfront costs to the Watchtower system. This means there will never be a large down payment that can wreak havoc on a budget. Watchtower simplifies budgets by offering a set monthly rate. Each year, you will know exactly what the monthly expense will be.

All-inclusive pricing covers everything. Imagine a scenario where ten cameras are damaged and rendered useless. In most cases, the property would incur charges to install new cameras. This would result in an expense that was likely not accounted for in the budget. With Watchtower, all service and equipment costs are covered under the monthly rate.

Watchtower’s service also includes unlimited video reviews. Every time an event occurs on a property requiring a forensic review, it is included in the monthly rate. There is no charge per review, meaning a management team does not have to weigh whether a review is worth the cost. It is already included so the onsite team can use the system however it sees best to manage the property.

Watchtower also offers different packages. Depending on the activity of a property, the areas of concern, and the onsite team’s needs, Watchtower can provide different options to ensure the services that best fit the property are proposed.

If additional coverage is needed, Watchtower will provide a precise and accurate estimate of the new monthly rate. Watchtower can also present a thorough ROI report demonstrating how our services can save money. By offloading all aspects of a video surveillance system, the onsite team is able to focus on the many other tasks it takes to manage a successful property.

Contact Watchtower Security today to talk through all our offerings and how they can fit into your next budget. We will help ensure your video surveillance line item is accurate, predictable, and value-driven.