As an Oak Creek rental property owner, you will consistently seek ways to reduce property maintenance costs. Though there are a few things that are safe to skip, re-keying your rental property’s locks is not one of them. You should remember to have your property’s locks re-keyed between tenants, even if your last tenant left on good terms with you. There are a lot of reasons for this, the most essential being the security of your property, the safety of future tenants, and helping boost your rental’s appeal to new tenants.
Secure Your Property
Security should be a primary concern for landlords, whether your property is currently filled up or not. Even non-permanent vacant properties can become targets for criminal activity and burglary. If your previous tenants copied their key and gave it to someone who was not on the lease, this is more likely to happen. So that your property remains secure and will not have any criminal activity, you need to control who has access to the property and when. This is achieved by re-keying your property’s exterior doors as soon as a tenant moves out.
Unreturned keys become even more problematic for your future tenants. To feel secure in their rental homes, that’s what tenants want to feel. But if your last tenants still have a key to the house, that sense of safety may not hold true. If a previous tenant or a person they gave a key to does a break-in, you may be liable for any damage or injury that occurs. On top of that, you will lose the trust of your current tenant, which may lead to canceled leases and costly turnover. To achieve reliable tenant safety, it’s vital to re-key the locks.
While the expense of re-keying the locks between tenants may make you hesitate, you can always use it as a selling point for your property. If a potential tenant is concerned about safety, you can put those fears to rest by guaranteeing that their locks have been re-keyed; and they may decide to get your property over other rentals in the area. If you can build the demand for your property this way, you may even be able to price your rent more and quickly recover the amount you paid from having the locks re-keyed.
Alternatives to Re-Keying
Current landlords are seeking other options to help ensure the safety of their property and tenant. For example, rather than re-keying the locks each time a tenant moves out, some landlords find it more cost-effective to install an electronic keypad or smart key product instead. While such alternatives do cost more upfront, the benefit is that you can quickly change the key code or smart key tool yourself. Perhaps the toughest part of these alternatives is remembering to do it as part of the move-out process.
DIY or Hire a Pro?
If you can, you may be able to re-key the locks of your rental property yourself. While it is not a complex task to do, it does take a bit of know-how. To ensure the task is done right, you may instead choose to hire a professional to come in and do it for you. It may be less costly than replacing the entire lock, knob, or deadbolt. The most crucial thing to note is that it is done accurately and that you have a brand new set of keys to give to your new tenant.
Tenant move-out, for property owners, can be a busy time. How about letting the professionals at Real Property Management Greater Milwaukee do it for you? Our Oak Creek property managers can manage all aspects of the move-out process requires and find you an awesome new tenant! To learn more, contact us online or call us at 262-309-6961.
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