Maximizing Efficiency: The Impact of Smart Locks on Your Rental Property

Locks are something that people don’t pay much attention to. You simply lock the door and move on with whatever you are doing. For MTRs and STRs, locks are a big deal. Locks can make the difference between a passive investment and one that takes up all your time. In this post, I am going to cover why you should think more about changing out your property’s locks and which ones do the best job.

To begin, I’d like to cover the why. When you have a MTR or STR you are constantly having new tenants coming in and out of the home. If you had a traditional lock that comes with most houses, you’d have to meet the tenant at the home every time they check in. For an STR this can be multiple times in a week. To save yourself tons of time, it would be wise to change out the lock for a smart lock that can be opened with a passcode. This passcode will be unique for each guest to ensure safety while they are on the property.

Having a smart lock that connects to wifi allows you to change the passcode from wherever you are. This saves time and makes it easier for the guests to just get right into the property when they arrive. An easy code to make for the door is the guest’s last 4 digits of their phone number. This makes it easy on your part to come up with a unique code and it is easy for the guest to remember.

Having a smart lock also makes it easy for contractors, plumbers, or other people working on the property to gain access to the home. Each of these people can have their own passcode and can enter without you needing to be there. This is yet another time saver for you, creating a much more passive investment.

Locks I am currently considering for my own MTR

U-Bolt Pro Wifi

https://u-tec.com/products/ultraloq-u-bolt-pro-series?variant=43330938732785#BuyOptions

This lock can be controlled from your phone via wifi, has a fingerprint ID, and comes in at a price of $199. Something that I do not like about this lock is that it takes away the ability to have a physical key.

Having a smart lock with a traditional key is not a deal breaker but is something I want on my property. This physical key will be a backup way into the property if the passcode fails. This key would be placed in a lockbox outside and in the case of an emergency could be used if the smart lock fails.

Kwikset Halo Wifi Smart Lock

After research, this lock is my current favorite. It is a little more expensive at $250 but has everything I want out of a lock. It can be controlled on my phone via wifi, has the ability to have 250 unique codes, has a traditional key lock + punch code, and you can view the lock’s event history. This lock is also from a great brand that I know I can trust.

Hope this post inspires you to look more into locks for your property. This simple device will save you a huge amount of time, making your life as an investor much better.