As a Norman rental property owner, you’re trying to consider various processes to reduce property maintenance costs. Even though you can do several things to save money, re-keying your rental property’s locks is not one of them. Doesn’t matter how amicably your last renter left, you should, every time, have your property’s locks re-keyed between renters. There are various reasons for this, the most vital being the security of your property, the safety of future renters, and helping boost your rental’s appeal to new renters.
Property Security
Security should be of the greatest concern for Norman property managers, whether or not your property is currently occupied. Even temporarily vacant properties can come to be targeted for criminal mischief and burglary. This is only made less difficult if your previous renters copied their key and gave it to someone that wasn’t on the lease. To keep your property secure and to prohibit criminal activity, you need to be able to control who has access to the property and when. You can accomplish this more straightforwardly by re-keying your property’s exterior doors every time a renter moves out.
Renter Safety
Unreturned keys are a crucial issue for your future renters. Renters have to feel safe in their rental homes. But if your past renters still have a key to the house, that feeling of safety may be an unsafe illusion. If a previous occupant or someone they gave a key to does break in, you may find yourself liable for any damage or injury that results. You will specifically lose the trust of your renter, which may produce canceled leases and very expensive turnover. To make renter safety a reality, it’s pertinent to re-key the locks.
Increased Appeal
While it is true that the cost of re-keying the locks between renters may make you hesitate, you can draw on it as a selling point for your property. If a prospective renter is worried regarding safety, you can very simply allay those fears by guaranteeing that their locks have been re-keyed; and they may decide on your property over similar rentals in the area. If you can increase demand for your property, you can charge a bit more for rent and very rapidly recover anything paid to have the locks re-keyed.
DIY or Hire a Pro?
If you are certainly handy, you can re-key the locks of your rental property yourself. Conceding that it is easy to fulfill, it does take a bit of learning and skill. And re-keying the locks can be a bit more budget-friendly than replacing the entire lock, knob, or deadbolt.
But take note, to completely make sure the job is enacted thoroughly, you may need to hire a professional to come in and do it for you. A professional locksmith will be able to implement the job more efficiently and confer you higher confidence that the re-key was done more than adequately. Either way, the most principal thing is that it is executed excellently, and you have an entirely new set of keys to give to your new renter.
Alternatives to Re-Keying
Today’s landlords continue to seek other solutions to help make certain of their property’s and renter’s safety. As an illustration, instead of re-keying the locks if and when a renter moves out, countless landlords find it more cost-effective to install an electronic keypad or smart key product. For example, installing a keyless entry system that is based on a code instead of a physical key could keep away from the need for re-keying your property altogether. More technically advanced keyless entry systems, moreover, need a smartphone app to unlock. Even if such options cost more upfront, the advantage is that you can, without much effort, change the key code or smart key tool. As time goes by, a keyless entry system could add up to huge savings.
Renter move-out can be a chaotic time for property owners. Why not let the professionals at Real Property Management Elevate do it for you? Our Norman property managers are knowledgeable and experienced at working with everything the move-out process entails and can find you a worthwhile new renter! To learn more, contact us online or call us at 405-876-7611.
Originally Published on July 2, 2021
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
