Anybody have any suggestions as to how to keep all the keys to my properties organized? Right now they are on a big 'ol ring, but there has to be a better way. :help
I want to know the same thing, I wonder how much time I waste on the trial and error method
Kwikset makes a new lock called the Smart Key, it costs $39.99 at Homedepot. Once you have them installed you never have to take anything out again to change the locks. You insert a special rod while the old key is in the lock then you insert the new key and the locks are chaged. I have them in my duplex and they work great. I have Four seperate properties with four seperate keys, so the next property I will use the same key as property one and keep it going like that. I will only have to carry four keys for the rest of my life.
Of course it wouldn’t work for an apartment building, but for sfh it’s great.
Take a look at Real Estate property management offices–they manage lots of keys.
To manage 45 rental bunches of keys we:
Had owned units Master-keyed, 1 for me, 1 for maintenance
Built a key-cupboard with a lock
Screwed in lots of cup-hooks to hang keys on
Devised a coding system and placed label over each hook
Put tags on the keys with our address and name of unit (not address)
The most important improvement was the logical coding of the key cupboard. Before we were spending lots of time just searching for keys.
Success is in the details.
There is no perfect solution to the problem of keys.
You can use a master key system of locks, which is nice because you only have to carry one key. The downside is that the locks are more expensive and if you lose your key, all of your rentals are compromised (which is very risky).
On the other hand, you can carry around a bunch of different keys, which is more hassle and someone could still steal all the keys.
Here’s what I do. I use the cheapest locks I can find at Lowes. I keep one copy of each key at home and carry the rest in my truck in a large, relatively flat tupperware container that will slide under my truck seat. That leaves me vulnerable to someone stealing all my keys by breaking into my truck. To fix that issue, I have all the keys tagged with coded key tags. Since my properties are divided into several different companies, I assign a number to each company. For example, let’s say that I assign the number 8 to one of the companies. Therefore, if I have a property at 123 Main Street, the key tag would say something like 8123 or 1238. If some loser steals my keys, they won’t know what each key means. There are no street names and what is 8123? Nothing. You get the idea. If my tupperware tub was stolen, I would probably still change locks around, but it would certainly make things more difficult for a criminal.
I’m not saying that this is the best way, just my way.
Mike
And since the locks are cheap ones from Lowes, you can easily replace them if you had to. Do you do that when a tenant moves out? And what do you do with laundry room keys? Do the tenants have their own? What do you do when one moves out?
I change the locks when a tenant moves out. You don’t know what copies of keys are out there. It would be a big liability issue if you didn’t change the locks and someone that had the key entered the unit with a new tenant in there. I can buy a new deadbolt and doorknob lockset that costs about $13. Well worth the money.
I just buy a few extra sets and keep them on-hand. When a tenant moves out, I change the lock. That lock goes to the spares…how would anyone know that a lock was moved across town?
Keith
I just buy a few extra sets and keep them on-hand. When a tenant moves out, I change the lock. That lock goes to the spares...how would anyone know that a lock was moved across town?
Me too. I change the locks as soon as the tenant moves out, so that they (or any of their friends) can’t get back in.
In addition, in practical terms, there are only so many keys anyway. I’ve found through experience, that I have a key in my tupperware box that will open just about every house in town.
Mike
Want to see something scary, google “Bump keys”
I got a set off ebay a few years ago for 5 bucks. Still takes me about 5 minutes but it beats kicking in the door when they change the locks on me.
I also use landlordlocks.com
You can get a master key and also a key that changes out the cylinder. When a tenant moves out, insert the cylinder key just like any other key and pull out the cylinder. Now just put in another cylinder that accepts a different key. Takes about 20 seconds.
Then reuse the first cylinder on another rental when the time comes.
If you call them I’m sure they can explain better but it is a great system.