Unlocking Convenience: The Pros and Cons of Lock Boxes
Lock boxes are one of those small tools that can make a big difference in property management. They’re simple, effective, and versatile—but they’re not without risks. As someone who’s managed for over 15 years, I’ve seen firsthand how lock boxes can streamline operations but create unexpected challenges.
The Benefits of Lock Boxes
Lock boxes are a game-changer when it comes to access control. Here are just a few ways they can simplify your life as a property manager or landlord:
Showings for Vacant Homes: Scheduling showings can be a headache, especially if you manage many properties. With a lock box, you can grant access to real estate agents or prospective tenants without meeting them in person. This allows you to show outside normal office hours, or save a lot of commute time.
Vendor Access: Whether sending a plumber to fix a leaky pipe or a cleaner prepping a unit for the next tenant, lock boxes give vendors access to the property without you playing the middleman. Provide them with the code, and they can get to work.
Preventing Tenant Lockouts: We’ve all had that call—a tenant is locked out of their unit after hours. Instead of running to the office for a spare key and then delivering it to the tenant, you can simply provide them the lock box code and they can let themselves in. Make sure they return the key and that you change the code to the lock box!
The Risks of Lock Boxes
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Of course, every convenience comes with risk. Lock boxes are not foolproof. Here are some of the common concerns:
Unauthorized Access: The biggest risk with lock boxes is that someone could steal the key and gain unauthorized entry. This could lead to squatters occupying the property or, worse, theft. It’s critical to choose a high-quality lock box with advanced security features and to change codes regularly.
Code Sharing: Even if you trust the person you’ve given the code to, there’s no guarantee they won’t share it with someone else. Limiting code distribution and tracking who has access can help mitigate this risk.
Physical Tampering: Not all lock boxes are created equal. Cheap or poorly designed models can be pried open, rendering them useless. Investing in a durable, tamper-resistant lock box protects your property.
Best Practices for Using Lock Boxes
To get the most out of lock boxes while minimizing risks, consider the following tips:
Choose a High-Quality Model: Look for lock boxes with reinforced materials, tamper-proof designs, and customizable codes.
Change Codes Regularly: Don’t let the same code sit on a lock box for months. Change it after each use or at least every few weeks.
Limit Access: Only share the code with trusted individuals and vendors. Keep a log of who has received it.
Remove the Box When Not in Use: If the property is no longer vacant or doesn’t need vendor access, remove the lock box to eliminate unnecessary risks.
Balancing Convenience and Security
Lock boxes can be a valuable tool in your arsenal . . . when used correctly. They offer unmatched convenience for showings, vendor access, and tenant emergencies but also require careful oversight to prevent misuse. By understanding the risks and following best practices, you can leverage lock boxes to save time and keep your properties secure.
American West Realty and Management prioritizes solutions to make property management more efficient without compromising safety. If you’re looking for ways to streamline your processes or want advice on securing your properties, give us a call. We’re here to help.
