5 Advantages of Smart Locks for Multi-Family Buildings

Property managers who are responsible for multi-family buildings or apartment complexes are increasingly recognizing the value of implementing smart locks as part of their access control systems. Smart locks offer a number of advantages over more traditional key-based entry systems, which can make life easier for both residents and management alike. 

Property Manager

Smart locks mean no need to rekey locks and less work for property managers.

Tracking and managing physical keys take up valuable management time. 

Keys can be lost, stolen, and duplicated by others without managers being aware, so you never have a true picture of exactly who has access to resident units and your property in general. 

Many property managers and owners resort to rekeying to gain peace of mind around security. Re-keying can cost between $30 – $60 per lock, which does not include a locksmith or professional installer labor cost.

With Smart Locks, there is no need to re-key locks when residents move out. Property managers can simply remove access from their online access dashboard or mobile app in a few seconds thus saving time and money. 

Also, there is less likelihood that residents will lock themselves out with smart locks, eliminating the need for them to contact property management to regain access. And, if an access issue does arise, such as a lost or dead smartphone, property managers can unlock remotely or issue one-time access codes as needed, all from anywhere at any time. It’s a huge convenience and time-saver, particularly outside of normal working hours.

Today’s residents see smart locks as a must-have, not a luxury.

Attracting new residents to a building is a key challenge for property managers. Vacant apartments cut into profits the longer they are left unfilled, so it’s crucial to ensure that both individual residences and the building as a whole are as attractive as possible to potential residents. Smart locks are increasingly important to today’s renters, especially among millennials and Gen Z.

As a group, these prospective residents favor using their smartphones to manage every aspect of their daily life, from banking to shopping, to work. And they feel the same about access to their homes. Research indicates that more than 8 in 10 millennials, for example, would pay more to live somewhere with smart locks installed—valuing the added security and convenience that they offer.  

Smart locks let residents grant temporary access to their property.

One of the most useful features of smart locks is the ability for residents to allow keyless access to others on a temporary basis. Selected contacts can be granted a variety of virtual keys / e-badges. These can range from one-time access, single-use codes that only work during predetermined hours and days, to full access granted to trusted users. For example, residents can allow their dog walker or cleaner to access their property during their specific working hours, or grant one-off access to a delivery company to drop off a new sofa. 

If you’re a property manager dealing with short-term lets or vacation rentals, this feature makes managing the arrival and departure process much more convenient, as there’s no need to be physically present to hand over or collect keys, or issue unsecured lockbox combinations. You can simply assign the access permissions and guests will have access during the period of their stay, allowing for self-service check-in and check-out. Owners and managers also have access to real-time logs to view who is coming and going on what days and at what times.

Smart locks make it easier to arrange viewings of vacant units.

For property managers of multi-family buildings with vacant properties, arranging viewings for prospective residents can take up a significant amount of their time. Managers with already busy schedules can find it challenging to schedule visits at a mutually convenient time during the working day, which can mean working in the evenings or on the weekend to fit in the required number of viewings. 

With a smart access system with smart locks, however, property managers no longer have to be physically present to allow prospective residents to access a property. They can arrange temporary access for a specific time and date, and enable self-service viewings. Visitors simply use their smartphones to gain access at the scheduled time, and their movements throughout the property are centrally logged, adding an extra layer of security.  

Smart locking systems give property managers more control.

Modern access systems with smart locks can be networked together and managed from a single pane of glass view web portal on a PC, laptop, or smartphone, which means property managers can monitor and secure their property even from anywhere at anytime. The best solutions allow remote operation of smart locks, and live communication via two-way talk and video, as well as push notifications to alert you to unauthorized access attempts, unusual user behavior, and more.   

Activity across the system is logged and backed-up off-site for maximum security, allowing managers to review detailed reporting on activity across every lock in the network.

Getting started

Vision Duo 698D MB

In photo: Lockly Vision Duo Smart Lock + Video Doorbell Interconnected Edition

If you’re looking to get started with implementing smart access control system with commercial grade smart locks at your property, LocklyPro offers a total access control with its vertically integrated hardware and software solutions for multi-dwelling units (MDUs), multifamily & commercial properties. 

Our hardware features Lockly Guard smart locks, based on the patented PIN Genie® technology, featuring the world’s first peek-proof and highly secure digital touchpad and 3D biometric fingerprint access capabilities.

The Lockly\OS is an all-in-one dashboard that allows property managers to view and control where, when, and by whom any Lockly smart locks are being used from anywhere in the world. 

Lockly Pro also offers a first-ever Air Transfer™ feature, that seamlessly transfers fingerprint profiles from one lock to another in just a couple of clicks making it easy to program and manage multiple locks in commercial properties.

Find out more about how our smart locks with integrated software management can provide you with better control of your property.

Talk to one of our property access control & management experts here.

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