Master Key System Explained and its Benefits

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  Gone are the days when property managers hold a bunch of keys just to enter a specific unit or building. A much more efficient way to enter a place is new in – the master key system.   Table of Contents What is a master key system?Benefit #1: One key can open up multiple…

Master Key System and its Benefits

 

Gone are the days when property managers hold a bunch of keys just to enter a specific unit or building. A much more efficient way to enter a place is new in – the master key system.

 

What is a master key system?

 

The master key system allows us, property managers to use one key to open multiple doors. Does it have benefits? Yes, they do! Below we are sharing a few benefits of having one.

 

Benefit #1: One key can open up multiple doors

 

The tenants only get a key specific to their unit and their door. It can work on the front and back if the tenants want it to be. Our landlords won’t have to worry about being stuck with a different key for every unit that they own. Each landlord, as they buy more properties or have one, will have a master key. That key will open every single door of their unit.

 

We usually name each one depending on the code. The code is usually given beforehand. It is a six-digit code that ends with a letter. Home Depot usually won’t copy what we have, which is called the best key.

 

To avoid us having to go to the locksmith and spend time copying keys, we purchased our own key copying machine. By purchasing that, we can type in the code and stamp it. It is different from a normal key cutting machine, which we will cover in a different session.

 

Benefit #2: Keys won’t worn down and work well

 

The fact that we’re cutting based on a code rather than copying another key, you don’t have to worry about keys getting damaged.

 

Benefit #3: Easy and convenient for lock replacement

 

Cylinder locks are much like your other locks that go into your door. We’ll have a control key, turn it, and a little section allows us to go in and put the core into the actual cylinder. You can get the core from Home Depot for over $10-$20 dollars. 

 

In order to save money, we’re going to save these cores . These cores have codes. All we have to do is mark exactly the name of the code, keep it in our records and use the core from other locks. Each year it can be changed from unit to unit, building to building.

 

Master key systems allows us to have the control of having one key, rather than thousands. It allows the landlord to have one key in your pocket, instead of all these different keys for all your units. Thus, it will save you money in the long term. You can do it yourself or hire a locksmith.

 

Hiring one costs $100-$125 per hour. The materials that locksmiths have wouldn’t use those materials from Home Depot because they’d have to drive over and get them. The locksmith and the type of materials that we use are a little bit higher of a grade. You’re going to have it in stock, and they’re going to make the cores that we actually will put into the locks and create those codes.

 

Now, those are one time expenses, the actual cylinder itself might be $30-$40. Cores might be $15-$20 dollars. You’re going to have this one time expense. Our upfront about $200 per door, but with that will allow you to save that labor. With that control key, you can just turn and change that lock yourself. If you wanted to have those different lots and cylinders, that’s fine. We facilitate that it’s really important for us to have safety for our tenants. Upon turnover you’re going to say well, how do you change it. You’re going to give the tenants that are coming in the old key and the new key. Remember we can always copy a key in advance. We know the code, give them both the old and the new key. When we switch over the actual new poor, we’re going to tell them in advance. Making sure keyboard on you that way when the cord gets changed you’re going to have the new keys to get into your house and you can draw that. That’s a real benefit for us, as well as for your vendors.

 

For emergencies you’ve got to think in the sense of urgency, the vendors aren’t going to have the chance to come to the property. You don’t want to kick down doors. We prefer to give our trusted vendors a copy of the key that they can use to all our buildings. They can go from unit to unit without worrying or wasting time or saving you money. They’re charging for those travels and we want to minimize your expenses whenever we can. The other benefit of it is to be able to have one key in a lockbox. Imagine having to fit twenty keys in the lock boxes. It just won’t happen. We’re able to put one key in all our property managers, have it view the owner of it, and have our vendors have it, which will save you time and money.

 

If you or anyone else, you know is looking for a property manager that has this type of skills and ability to have forward thinking and save you money in the long term as well as for the safety of your tenants, please feel free to reach out to the Green Ocean Property Management. You get more than a property manager, you get peace of mind.

 

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