Top 5 Reasons Multi-Family Properties are Moving Away from Physical Keys

Been there, done that. Whether you are a property manager who's had more middle of the night, "resident locked out phone calls" than you care to count or you're a resident who seemingly always forgets your keys, moving away from physical keys has never been easier. And modern access experiences and conveniences are what today's renters want and expect. Here are just 5 reasons why multi-family properties are finding it easy to ditch physical keys.

1. Emergency Locksmith Calls are expensive! An urgent service call can cost between $150-250, according to price estimates on Thumbtack.com

2. "Do not duplicate" Isn't legally binding. A Key stamped with Do Not Duplicate "is not effective security and... the use of such words is deceptive because it provides false security"

3. Constant rekeying adds up. The average cost to rekey locks ranges from $40 to $100 per trip, plus $5 to $45 for each lock cylinder. If a master key is lost, multiply this cost by the number of locks in your building.

4. There are over 20.8 Million Units Rented. Plus, the apartment construction market is growing with close to 23% of those units built since 2000. Imagine how many keys!

5. Yale makes ditching keys, easy. Offering a more flexible solution that combines hardware, software, and a range of access methods (cards, fobs, PIN codes, and mobile credentials) properties can more efficiently and securely manage access for one or more properties.