Besides online rent payments, I think Kwikset’s SmartKey technology is one of the best inventions in property management in the last 10 years.
When a tenant loses a key, these special deadbolts and door handles allow a landlord to easily re-key the locks within seconds.
Each of the Kwikset SmartKey locks cost about the same as traditional locks, and they will pay for themselves in one visit from a locksmith.
How it Works
My Lesson Learned
Just recently, a tenant returned four keys to me when he moved out. My curiosity was piqued, because I had originally given him only two keys. Obviously, he made some copies even though he was specifically instructed not to.
He said that he only made two copies, but I have no way of knowing for sure. A month later, a back door was found unlocked that the tenants claimed they had locked, and there was no sign of forced entry.
After a few days of anxiety, I decided to hire a locksmith to re-key all the locks to the apartment, which cost me $180. By that time, I had already returned the deposit, and wouldn’t be able to ask the former tenant to pay for it.
If I had used SmartKey locks, I could have re-keyed the unit myself and taken my wife to Ruth’s Chris Steak House instead of paying a locksmith.