There is nothing worse than getting a call from one of your tenants saying that they have locked themselves out of their house and they don’t have their key. Actually the only thing worse than getting that call is when you also can’t find a spare key to the property. That is why it is so important to organize your keys for your rental properties.
When we started investing in rental properties several years ago, it was pretty easy to manage the property keys. Since that time we have re-keyed and purchased several more properties and it has become more difficult to keep everything organized. We decided it was past time to find a way to organize the keys for our rental properties.
CREATE A KEY ORGANIZATION SYSTEM
The good news is that setting up a key organization system does not have to be difficult. The more important part is making sure you stick to your system. Each time you re-key a property (which you should do after each tenant) you need to make sure to update your system. The same goes for every time you purchase a new property. Below are the steps that we follow to keep our rental property keys organized.
Step 1: Keep your original key that comes with your lock
Step 2: Make up to 10 copies of the original key
When you re-key a property make sure to keep the original key that comes with the lock. The next step you will need to do is take your original key to your local hardware store and make up to 10 copies. You will want this many copies so that you can give 2-3 to your tenant and have a few extras on hand.
Step 3: Use a metal stamp to label each key or put all keys on the same keyring
Once you have made 10 copies of your key, you can use a metal stamp/punch set to label each key with a letter or number so that you know which keys belong to which lock and property. You can get a steel punch set for pretty cheap at many home improvement stores. I also like to put all of the same keys on a keyring to keep them together.
Step 4: Create a key identification document
On a separate document take note of which keys belong to which property. Example.. Key A1 belongs to 123 Main Street property. Always keep this document updated and in a safe location separate from where you keep your keys. This way if someone finds your keys they still won’t know which properties they belong to.
Step 5: Put all the keys in a safe, secure location
Finally once all of your keys are labeled and organized you can store them in a safe location. I like the key organizations devices shown below. They keep all of the keys together and you can lock them in a safe space also.
OPTIONAL KEY ORGANIZATION DEVICES
File-A-Key is a handy filing device that can store up to 14 keys. I like this product because you can store it with your other important documents and keep it under lock and key.
Locking Key Organizer is another option for keeping your keys organized. It can hold up to 28 keys and locks with a 3-digit code. It also comes with blank key tags.
KEYLESS LOCK OPTIONS
I think it is worth mentioning that keyless lock options are becoming more and more popular. Many property managers use them for short term rentals like Airbnb. The keyless access makes it super convenient for exchanging ‘key’ information for short term renters. The keys or codes can then be deleted and changed out after each renter.
IN CONCLUSION
I hope this gave you some new ideas and systems for ways to get and stay organized when it comes to managing your rental property keys. Until next time, happy managing!
P.S. – For more property management tips check out our post on Easy Painting Tips for Rental Properties
DISCLOSURE: THIS POST MAY CONTAIN AFFILIATE LINKS, MEANING I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU.
