The Real Cost of Not Having Security: Memphis Stories
Security feels like an expense until you don't have it and something happens. I've seen this play out enough times in Memphis that I want to put some real numbers on what the "we'll take our chances" decision actually costs when the chance doesn't go your way.
These scenarios are based on real situations we've encountered, with identifying details changed. They're not rare. They represent the kinds of incidents that happen regularly to properties without consistent security coverage.
Scenario 1: The Midtown Retail Strip
A small retail strip on Union Ave had four tenants, all paying reasonable rent, and a property manager who decided security coverage wasn't worth the monthly cost. Over fourteen months, the property experienced three break-ins (two after hours, one during a Sunday when the strip was quiet), two incidents of graffiti requiring professional remediation, and one vehicle theft from the shared parking lot.
The total direct losses and remediation costs came to approximately $24,000. The security coverage they opted out of would have cost around $1,400 per month. Over fourteen months, that's $19,600 spent on security versus $24,000 in losses, not counting the time spent dealing with police reports, insurance claims, and tenant communications. And the less quantifiable cost: two of the four tenants cited security concerns when their leases came up and they didn't renew.
Scenario 2: The Whitehaven Distribution Point
A small distribution facility in the Whitehaven area was operating without overnight coverage. They had cameras. In a single incident, an organized group defeated the perimeter, disabled a loading dock camera, and removed inventory worth approximately $31,000 in a 45-minute window. The cameras caught the event but didn't stop it. Insurance covered most of it after a significant deductible. The premium went up at renewal. And the operational disruption during the following week cost additional money in delayed shipments and customer communication.
Scenario 3: The East Memphis Office Park
A four-building office park in East Memphis decided to reduce their security contract to save money during a slow leasing period. The overnight patrol they'd been paying for got cut. Within eight weeks, they had two incidents of copper theft from HVAC units on the rooftops of two buildings. Copper theft is expensive in ways that extend well beyond the copper itself: the HVAC units were damaged, one building lost climate control during August, and tenant complaints were significant. Total remediation costs exceeded $18,000.
The Math Matters
Security coverage isn't a guarantee that nothing will happen. But it changes the probability meaningfully. These three properties had incidents that would likely have been deterred by a consistent security presence. The savings on security, added up across all three, were less than the losses they sustained.
We don't say this to pressure anyone. We say it because the math is real and most property owners haven't done it. Our commercial patrol services and security officer coverage are priced to be viable for properties that are thinking carefully about what risk actually costs. Call (202) 222-2225 or contact us to talk through what coverage makes sense for your specific property.