Renters Are Being Left To Fend For Themselves

Published: Tue, 07 Apr 2015

enters just don't get any love from the home security industry. The reason - they move too much! Most firms such as ADT home security require some kind of multi-year commitment, at prices that can easily exceed $30/month. These security providers usually offer steep discounts on installation pricing (or even give it away for free). They need their customers to stick around for a long time to make up for the equipment and installation charges incurred when the system is installed. A typical monitored security cash flow model looks like this:

Too many renters move prior to the expiration of the contract, which means renters are money losing propositions for traditional providers such as ADT home security.  In fact, many of these providers exclude renters from their promotions (see our post on March 19th).  Here's the result - renters are much less likely to have a home security system:

So is this really a problem, do renters need a home security system? The answer is yes, and here are some numbers to prove it.

Renters are more likely to report serious crime and to have general concerns about their neighborhood.  So we clearly have a problem - in many ways renters have more of a need for security, and yet they are much less likely to purchase it.

At Korner, we concluded that the industry wasn't providing the right solution.  Renters need something that is inexpensive, easy to setup, and portable, with no long term contracts.  And we set out to build exactly that.  Here's why we are the best home security system for renters:

  Inexpensive - $59 up front and $39/year (and no contracts!).   Easy Setup - Install in minutes, just stick our one-piece Tags on doors and windows.   Portable - Fits in the palm of your hand, and Tags use reusable adhesive.   Doesn't Deface Property - Our one-piece Tags stick easily on doors and windows, and can be removed just as easily when a renter moves out.

In addition, the Korner App offers each user a personal Security Circle comprised of family, friends, neighbors.  Not only can they assist in the case of an emergency, but over time we see this feature evolving into a form of Neighborhood Watch, providing a catalyst for community improvement.

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