Leasing Security Cameras Without Touching the Condo Reserve Fund

Replacing a condo's camera system is a capital expense. That means it either comes out of the reserve fund, which was studied and funded for other things, or it becomes a special assessment, which owners hate and boards avoid. So old, failing camera systems stay in place for years past the point they should have been replaced, because the money is hard to move.

Leasing changes the category. A leased Verkada system is a fixed monthly payment that sits in the operating budget beside the guard contract and the elevator maintenance. There's no capital purchase, no reserve fund draw, and no assessment. The board approves a monthly figure, and the building gets a new system.

Why condos are stuck with old cameras

Most condo camera systems were installed when the building was built and haven't been touched since. They're analog or early IP cameras feeding a recorder in a closet that nobody checks. The picture is poor, the retention is short, and pulling footage means finding the one contractor who still knows the password. When a camera fails, it's replaced with whatever's cheapest, and the system slowly turns into a patchwork.

Replacing it properly costs real money, and that money has to be planned years ahead in a reserve fund study. Boards that want to act sooner run into the accounting. Leasing is the way around it.

How the lease works

A KingsGuard lease covers everything for a fixed term of 12, 24, 36 months:

1. Site assessment and design. We walk the building, map every camera position, and show the board the coverage on a plan.
2. Hardware, licences, and installation. Current-generation Verkada cameras, access control if wanted, and hard-wired PoE installation by our technicians. No recorder closet.
3. Maintenance for the whole term. Cameras that fail are replaced. Licences are included and renewed. The system stays under our care.
4. One monthly invoice. Starting from $50 per camera per month, with live monitoring available from $250 per site per month.
5. End of term. Upgrade to newer hardware, renew, buy out the equipment, or return it.

The board's obligation is a monthly operating expense that fits into the annual budget like any other contract. If the corporation's finances are audited, the lease is reported as what it is: a service agreement, not an asset purchase.

What the board gets that it didn't have

Video the board can actually use. Verkada stores footage on each camera for 30 to 365 days depending on the model, and it's searchable: find a person or vehicle across every camera in seconds rather than scrubbing through hours of recording. When a resident reports a garage break-in, the property manager can find it and share it with police by link the same day.

No recorder to fail. There's no server or NVR. Firmware updates itself. If the internet drops, cameras keep recording to onboard storage and sync when it returns.

Access control on the same platform. Fob readers, door sensors, and intercoms run in the same Verkada Command app as the cameras, so a door held open at 2 a.m. shows up as an alert with video attached.

Someone responsible. For the length of the lease, KingsGuard is on the hook for keeping the system working. That's a phone number the property manager can call, not a contractor who may or may not still be in business.

An easy path to live monitoring. Once the cameras are in, the board can add live monitoring and reduce overnight guard hours, which is often where the lease pays for itself.

Questions boards ask

Does the corporation own anything at the end? That depends on the option chosen at end of term; a buyout is available.

What if the board wants to add cameras later? They can be added mid-term and rolled into the same monthly payment.

Is this compliant with condo procurement rules? The lease is a service contract like any other; your property manager and legal counsel can confirm the approval process for your corporation. We're a registered vendor with several major management companies.

What areas do you cover? All of Ontario, with technicians based in Kitchener-Waterloo and the GTA.

Want a number for your building? Ask about leasing Verkada and we'll do the site assessment at no charge and come back with a monthly figure the board can take to its next meeting.