Whether you manage a single rental property or thousands, you should have a plan in place to throw away the keys and implement a keyless entry system and smart lock. For anybody doing the math, the return on investment is abundantly clear, and the experience for residents if far better.
Many property technologies and services generate little tangible value to low scale property managers and rental owners. Without large sample sizes and geographic diversity, the return on investment simply isn't there, which has led many owners and managers to eschew technological solutions in favor of traditional, often manual, approaches. However, keyless entry is the one major exception to this rule. For anybody doing the math, the return on investment is abundantly clear. Whether you manage a single rental property or thousands, you should have a plan in place to throw away the keys and implement a keyless entry system and smart lock.
Sure, no keyless entry system can work without smart locks, but a smart lock on its own is not the same as a keyless entry system. A keyless entry system needs to:
While a smart lock connected to Wifi can accomplish a small of these requirements, no existing smart lock will itself cover all of our needs. We don't need a smart lock, we need a true keyless management system.
Smart entry systems offer a number of benefits to owners, managers, and residents and easily justify an initial capital investment, even at a scale of just one or two properties.
While the space is evolving quickly, there are three primary leaders you should evaluate, all of which support multiple device types: Pointcentral, Rently, and SmartRent. All three of these solutions can generally solve for keyless entry, with Rently and Smart Rent specializing specifically in keyless entry management.
Given the positive reviews and pace of innovation, our current preference is Rently, as they offer the best combination of price and functionality for an all-in-one platform. That said, any one of these three solutions will offer an immediate upgrade and a tangible return on investment for owners and property managers at just about any scale.
Elara is a full-service, technology-powered property management solution that handles acquisitions, renovations, ongoing management, and strategic disposition of residential rentals. With a combination of data-driven decision-making and world-class operating experience, we deliver efficiency and quality at scale to help you get more out of every home. Schedule a meeting with our team.