What to do with all these keys?
How do you guys keep all your keys organized? I don't have that many units yet, but already all these keys are a hassle. On a similar topic, what do you do about changing locks? Is there a good landlord lockset that is easy to change out and keep the keys manageable? Thanks in advance.
Its been a while since I've had a bunch of them, but back in the day I had some house key rings made with my logo and one of those really big rings I'd keep them on. It was kinda fun to see them all, prob about 60-70 on that ring. Funny to think back on, I thought I was big timing it. I kept them on me, I got locked out of my own house a couple of times and it drove me crazy. Most of my stuff was fairly high touch, though. I was rehabbing to L/O mostly so just liked having them all on me just in case. Also had a key to each taped in the file.
I keep boxes on all my rehabs, very first thing I do. I've got 2 rentals now, I had one tenant request the lockbox get removed so I did, the other I left on there, its kinda convenient if I need to send my guy out there. Those are about $35 at Home Depot.
I've looked at the master key locks, they've probably changed a lot since I was doing rentals 10 years ago. Didnt seem worth the effort to me, I just got the Defiant Keyed alike numbered ones from Home Depot and switch the locks with another house when someone moved out.
The owner I worked for had several properties in several different towns. When a tenant moved out of a unit in one property, he'd remove the locks and put them in a box. Then when a lock needed to be changed out at a different property, he'd use the locks from the first property. He just switched them from one property to another.
We also changed out all of the locks so tenants only had deadbolts that had to be locked from outside to avoid tenant lock-outs. As a resident manager, it's harder to ignore them when they come banging on your door.
The funny thing was that I'd still get tenants who would lock themselves out - they'd lock their keys in their cars LOL. If I wasn't around, they just had to deal with it. But, that happened much more rarely than other random lock-outs.
The owner I worked for only had a master key to the storage closets - not to any of the units. I used a jailer's ring and had tags on the keys. They were kept in my apartment, and we had another key lock box in the utility room/work room that the owner also had access to, so he could also get keys when necessary without having to go into my apartment.
I have changed to master key lock system. I have one key...Previously I used a business card holder...Little, small, and can fit in my glovebox...I put the address on a piece of paper and the key behind it. Zips shut and keeps everything organized. Just thought I would throw that out there.
I don't try to keep up with all the keys, I just install new locks on the front door at a cost of about $20.
I have been using kwickset smart locks. can be rekeyed in a flash. when tenant move out. I rekey to my "work key and put a lock box on it" then before I rent it after contractors are done. I rekey to a new set. I have a couple dozen sets. No house is ever the same that way. I keep a copy in their file in my office. should I need to get in. I plan on going to a master key in the future.
@Jason Mak - great point! I'd also suggest any serious landlord with a good number of units have a key duplicator, you can pick them up used on eBay for $100 and instead of paying $2 -$3 a copy and spending time at a hardware store you can just make copies yourself as needed.
This is one of the most informative threads I've seen on BP in a while. Anyone who has been in RE for a while knows how much of a pain keys are!
I went and bought key holder for each rental ,I mark on the key chain what property it is.I put all the keys in a good location of my center console with average amount of tools can handle lots of service calls .
Originally posted by @Bryan H.:Google search Master Key Lock System. You only have to carry 1 key. There are also lock system to swap out the core easily.
Though I would advise having one master per property and not a master across properties - that way if you sell a property, you avoid rekeying.
... or , move to electronic locks and starting handing out pin codes rather than keys.
I love the suggestions. I currently go to home-depot and pay about $10 every time I want to re-key a door, when a tenant turns-over. But it seems like there are better ways (and cheaper ways) of re-keying doors.
We put Kwikset Smartkey locks on all our properties and then can rekey in seconds on tenant move out to any other key on hand. I don't believe in using a master key - I feel it is too much liability if someone ever gets their hands on it. I would also strongly recommend not keeping keys in your car that have an address associated with them in any way. One car break in and you have to contact all tenants to let them know and then go out immediately to all properties to rekey. If that happens how do you think your tenants are going to feel about their safety and their trust in you going forward? If you do keep keys in your car, or anywhere for that matter, code them and keep the key code log on your phone or somewhere separate. Store all keys in off-site locked key boxes and keep them coded. There's not many other more convenient options In my opinion that protect your tenants if a key is stolen. Your tenant's safety should always be a top priority even if it comes at an inconvenience to you.
Kwikset/Wiesser smartkey is not a viable option for those with large properties.
Master keys, if managed properly should never be cross site and, should probably not leave the on-site keypress.
I would never use a master key, way too much liability. It's too easy for someone to leave their keys behind.
I rented commercial office space years ago, and one of the long term tenants found a set of keys in the parking lot one day way back when - just happened to be a maintenance set of keys that had the master. He kept it made a copies for other people in his office - and would always open the janitors closets for supplies, the roof door a few levels up for a breeze, etc. Management company had no clue this tenant held a master for 10+ years. It was always unsettling knowing that if he really wanted to he could get into our office space.
Labeling / storing keys: If you are a small landlord, I'd suggest keeping a few sets of keys for each unit, keep your original in a keybox at home, labeled with the address. Then have a copy of each one that is labeled an abbreviation - never carry all keys together. For abbrivations, if the address was "1293 George Bush Jr. Lane" - label the keys you take with you as "GB-93" - to you it's obvious to you it's your "George Bush Jr. Lane" property, and then the address of the unit is the one ending in 93. If you drop it in the grocery store parking lot, whoever picks it up will be clueless as to what it's for.
Originally posted by @Roy N.:
Kwikset/Wiesser smartkey is not a viable option for those with large properties.
Master keys, if managed properly should never be cross site and, should probably not leave the on-site keypress.
I should have prefaced that with the properties that we own and manage are mostly single family, duplexes through 16-unit spread all over the city. Larger apartment communities can be a different animal in regards to keys as they are generally stored on-site, though one lost, stolen or copied master key at an apartment community can still cause loads of problems. Regarding Kwikset Smartkey not viable for large properties, is it just the cost of initial changing them all out or another reason? They have dropped in cost and the Smartkey feature seems to come standard with most Kwikset locks now.
Originally posted by @Chris Herbert:
We put Kwikset Smartkey locks on all our properties and then can rekey in seconds on tenant move out to any other key on hand. I don't believe in using a master key - I feel it is too much liability if someone ever gets their hands on it. I would also strongly recommend not keeping keys in your car that have an address associated with them in any way. One car break in and you have to contact all tenants to let them know and then go out immediately to all properties to rekey. If that happens how do you think your tenants are going to feel about their safety and their trust in you going forward? If you do keep keys in your car, or anywhere for that matter, code them and keep the key code log on your phone or somewhere separate. Store all keys in off-site locked key boxes and keep them coded. There's not many other more convenient options In my opinion that protect your tenants if a key is stolen. Your tenant's safety should always be a top priority even if it comes at an inconvenience to you.
it is so easy to rekey no master keys
Originally posted by @Chris Herbert:
Originally posted by @Roy N.:Kwikset/Wiesser smartkey is not a viable option for those with large properties.
Master keys, if managed properly should never be cross site and, should probably not leave the on-site keypress.
...
Regarding Kwikset Smartkey not viable for large properties, is it just the cost of initial changing them all out or another reason? They have dropped in cost and the Smartkey feature seems to come standard with most Kwikset locks now.
The cost and the necessity ... Smartly does not play nice with others, nor in a Master-key tree.
Yes, there is always the risk of a key being lost or copied ... like all risks in business, you put measures in-place to mitigate them.
We've been slowly, but steadily, moving to electronic locks which we can manage remotely and if necessary, audit the access history.
Originally posted by @Roy N.:
Originally posted by @Chris Herbert:We've been slowly, but steadily, moving to electronic locks which we can manage remotely and if necessary, audit the access history.
Which electronic locks are you using and how have they worked for you so far?
Completely off topic: I saw the post title, What to do with these keys?
I know you are referring too keeping your rental keys organized but on a side note; seeing as Valentine's Day is around the corner (assuming your significant other is into RE investing), you can make a "Collage" of keys of all the projects you have done (or properties you have closed on/rented) for that year. Something like the image below (pulled off of google...obviously the keys would be more modern keys). Write the year on it as well and do one every year to see how you progress!
Just throwing it out there for all those still thinking of gift ideas. I've been wanting to do this for a while, to stick it in my office, however never got around to it...yet.
You're welcome ladies and gentlemen!
Originally posted by @Chris Herbert:Originally posted by @Roy N.:
Originally posted by @Chris Herbert:We've been slowly, but steadily, moving to electronic locks which we can manage remotely and if necessary, audit the access history.
Which electronic locks are you using and how have they worked for you so far?
We use a selection of Zigbee/ZWave aware locks, but predominately Schlage - the generation that did not try to power the deadbolt (powered deadbolts have shorter battery life and problems in older wooden buildings which shift in winter).
@Colleen F. I am currently doing the same thing, colored tags however, now with 3 rentals, shed, gate keys, etc. I need something more simple.
@Bill S., I like your idea!
Prior to reading many posts on BP I was looking at a lockbox-type organizer. Silly me. :)
Is anyone using the keypad system? If so, what is that like? Who changes the batteries?, etc.
Originally posted by @Rob Donovan:How do you guys keep all your keys organized?
Really big keyring. Or two. That's the day to day landlord keys.
But spares are kept in a box, some cheap plastic labels and mark up the property.
On a side note, there is a reason to have a really big keyring and lots of keys.
My wife was showing a contractor an empty place, she wanted an AC system or windows or something. I wasn't around that day.
She turned up in our white work truck, F250 with long bed etc, introduces herself, and proceeds to get out this huge keyring with 40 odd keys.
The contractor looked at her between the eyes and without prompting said "this will be contractor pricing then".
Never underestimate the power of things like the work truck or the big keyring to be taken seriously.