I do the same process that @Steve Babiak and @Bryan A. do. I use the Defiant locks from Home Depot. They are $30 for a set of two knoblocks and two deadbolts and also come with four keys. The have them for $24 if you buy at least four packs of them. I change the outside only as the others have mentioned and it is a fast process. I then use the old locks on a different house.
(I know that Defiant is not the best in home security, but if someone wants in, the brand of lock is not going to stop them.)
I also give them copies of keys instead of the originals. It's often that they lose a key before the lease is up. As far as copies go, I used to have them made until some high school dropout at the hardware store screwed up the copy and sent my into a fury. I bought a key machine off CL for $50. I buy key blanks online for 17 cents each. I can make keys in my garage as fast as the clowns at the store make copies and it's cheap. I can make as many as I want and if the tenants lose them, oh well. I will deduct $2 from their security deposit and make $1.83.
I looked into having locks rekeyed in the past and it wasn't worth it financially. I know landlords who spend a lot of money on master key systems, but a tenant who knows about locks can take it apart and make his own master key. I don't want to take that risk.
I always change locks when a tenant moves out. If the house sits for a while and workers or agents are going in and out, I change them again when a new tenant moves in. Better safe than sorry.