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Drawbacks and Benefits of Keyless Entry for Rental Properties

Drawbacks and Benefits of Keyless Entry for Rental Properties

 

Technology has helped so many aspects of the rental industry. One of those strides has been in keyless entry systems. So, with so many different options to choose from, how does a landlord know what is best? Balancing technology with ease of use and cost can be a process. Continue reading as we examine the benefits of keyless entry plus some potential cons to consider.

What are Keypad Locks?

A popular landlord option these days are keypad locks. These use a numbered keypad code to gain entry and secure the door. Easily set and reset codes, plus in some cases, you can also use a key in instances of malfunction. Let’s take a look at the benefits and disadvantages of this type of entry.

Advantages of Keyless Entry Locks

  1. Improve Security: Standard door locks contain pins, which are susceptible to being picked or broken into. Keyless entry does not have a keyhole in most cases and, therefore, cannot be broken into as easily. Codes can easily be rest faster than a traditional lock change, saving you time and money between tenants.
  2. Eliminates Lockouts: Lost keys happen, tenants get locked out, and you get bothered with the phone calls. However, keyless entry removes the need for the middle of the night lockout calls. This creates peace of mind that tenants can easily access the property without the need to fuss with keys.
  3. Bonus Amenity: Added technology is a bonus when it comes to marketing your property. This is viewed as an upgrade by renters and provides a desirable amenity thanks to the added convenience and security.
  4. Access Control: Depending on the lock you choose, codes are easily reset online or at the keypad. Additionally, programmable time limits can also restrict entry to a property further. This gives property managers a great deal of convenient control they would not otherwise have with traditional keys. Keyless entry is also more suitable for maintenance needs as vendors don’t need to arrange to pick up or keep track of keys.
  5. Easy Installation: Changing traditional locks requires experience either by a maintenance technician or a trained locksmith. This can be costly and not always the most convenient. Keyless entry locks are easy to install without requiring any special tools or skills. Additionally, there is no need to alter the door or the doorframe, and they can be placed just like a standard lock.

Drawbacks of Keyless Entry Systems in Rental Homes

Keyless entry systems are beneficial in many ways, but they are not without a few drawbacks. Before investing in this type of technology, consider these points below.

  1. Keyless systems cost more: A standard lock will cost around $50, while keyless entry can set you back a few hundred. If the keyless entry is part of a more extensive security system, the bill can be even higher. That said, added security is a bonus to potential renters, and keypad locks do not require replacement after each tenant.
  2. They are not without accessories: Depending on the lock you choose, items can be lost just like keys. Some keyless locks come with a remote that unlocks the door. Unfortunately, tenants can lose this in the same way that keys can. Missing remotes also pose a security risk, so one way to avoid this is to withhold the remote from the tenant and rely solely on the keypad.
  3. They are not maintenance free: While it adds security, changing codes frequently does have some disadvantages. Keypads will eventually show wear, making numbers hard to read and patterns evident to burglars. Tracking and securing codes also adds an extra organizational task to a property manager’s day.

 

Protecting your investment property and the tenants who reside there should be a top priority. Many factors play into how much you are willing to put into your rental property’s security, and installing a keyless entry system may or may not fall within that budget. Ultimately, the amount of investment you choose is up to you and your goals, but it is worth looking into the benefits of keyless entry. Looking for peace of mind regarding your investment properties? Contact us today!