Creating a risk management checklist for your self-storage business can be a challenge, and this series of articles offers suggestions for various categories and items that you may want to include in your checklist. The focus this quarter is crime prevention.
The following questions may be useful as part of your company-wide risk management checklist.
Crime Prevention Checklist
- Are bank deposits made daily?
- Are checks stamped “FOR DEPOSIT ONLY” with the company name and account number?
- Does the manager utilize a check log or photocopy checks?
- Is a check-verification service used?
- Is video surveillance used in the office area?
- Is a photocopy of the tenant’s driver’s license made at the time of the initial unit rental?
- Do managers verify the address on each rental agreement?
- Do managers use a special pen to identify counterfeit currency?
- Are accounting audits completed on a regular basis?
- Is a secondary contact obtained from each tenant?
- Have internal money controls been evaluated by a loss-prevention specialist?
- Are written procedures in place for accepting credit-card payments?
- Are all accounting discrepancies documented with supported data?
- Has each employee been instructed on how to respond in the event of a robbery?
- Does the facility obtain a fingerprint from each tenant?
- Are visitors required to sign in/out?
- Does the facility utilize security stickers on locks?
- Is the facility lighting inspected on a regular basis?
- Is the trash picked up on a daily basis?
- Do site inspections include walking the perimeter to observe any fence damage?
- Are video surveillance recordings reviewed on a daily basis?
- Is there a policy in place to retain surveillance recordings in cases where the manager has observed questionable activity?
This brief article is not intended to provide specific legal analysis or advice, and should not be construed to apply to every potential situation involving insurance coverages and losses. For specific information and questions concerning this article and the information contained therein, please consult your insurance agent and/or your attorney.