RENT Magazine Q2 '21

replace existing locks because they mount in the same holes. That makes for quick and easy installation. In stark contrast to yesterday’s hard-wired security systems, upgrading your property to wireless access control has never been more affordable. And mobile credentials make it easy to address the emerging multi-family pain points of self-guided tours, short-term rentals and package delivery. They provide a solution that is simple, easy to manage, and cost-effective. Potential downsides of smart locks Although today’s smart access control costs run about 25% of the cost of a traditional hard-wired access control system, it still costs quite a bit more than a simple mechanical lock, so it deserves considerable research to make sure the product you choose delivers all the value you want and expect. Complicating the research, there are a lot of legacy and emerging brands with a wide variety of technology features to choose from, so the due diligence can be time consuming and one-to-one comparisons can be difficult. Once you make a commitment, you should expect some resistance

from a few tenants who are unfamiliar with mobile technology, so plan for some wiggle room in the adoption process. And because smart locks live on a digital platform, you will need to anticipate some glitches, either in the implementation process or as a result of scheduled software upgrades, so you should make sure your local dealer is committed to supporting you. On a very practical level, battery life is about 6-9 months on a high-use application smart lock. Smart locks are the new differentiator As noted above, smart locks aren’t just for risk mitigation anymore. They have become a preferred solution designed to solve multi- family pain points around access and experience. This is creating a new way to look at the ROI of smart locks and access control from both the perspective of the property owner and the tenant. They provide enhanced security while minimizing the time and precious resources spent coordinating resident, staff and vendor access. They also simplify tasks, reduce costs

and create more efficient processes.

Smart access control is a critical upgrade for any rental property who wants to thrive today and tomorrow.

Kim Wannamaker VP of Marketing (800)441-9692

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