Keys, Locks, and Locksmiths

RUNNING YOUR RENTAL BUSINESS

TRICKS OF THE TRADE

photography of keys on orange surface
Photo by Luka Siemionov on Pexels.com

When you first rent out your property, you’ll need to make sure that it’s rental-compliant.  A “key” part of this is making sure that locks and peepholes are up to code in your complex/city/state/country.   Your realtor should have the requirements; if not, your locksmith will (and then there’s the internet…).

A locksmith is an important part of your team.  Find a good one!

After you have your first renters moved in, however, you may be able to tackle a lot of locksmith duties yourself, and save a lot of money over the years.  Here’s how:

When a lock needs to be changed, replace it with one of the new re-keyable models.  Several brands now make these.  The brand that you choose will have a lot to do with the size and shape of the key that works in the other locks at your property.  Be sure to bring a current key with you to the hardware store, and don’t be afraid to ask for help.  Re-key this new lock to match the keys that go with the other locks.

Don’t forget to save the set of keys that came with the new lock — they can be used for new renters later on.

After that first renter leaves and you need to re-key, consider replacing all of your locks with the re-keyable kind.   The cost, per lock, is similar to the cost of having a lock re-keyed (the exception is the fancier front door lock, which will cost more than simply re-keying would).  And, in the future, re-keying will be free!  This cost savings can be significant over the years.

One quick word of caution: if you mess up while re-keying, you will need to either buy a new lock or contact a locksmith to fix the lock.  No pressure!  So don’t leave re-keying for the last minute, just in case something goes wrong.

TRICKS OF THE TRADE

One thought on “Keys, Locks, and Locksmiths

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s