|Door-To-Door Guide For Apartment Operators
In order for property managers and operators to keep up with all the competition in the rental market, they need to understand what multi-family residents look for in a rental place. Renters these days expect their desired rental facility to feature the most up-to-date technology and amenities. Until recently, many buildings didn’t have electronic locks, but now many places are offering them as an added feature. Before high installation and implementation costs would have turned operators away, but now, the biggest question is where they should be used and the answer is at the front door!
The cost for installing electronic locks has decreased significantly thanks to new technology and the use have become more mainstream as more and more multi-family communities have them. And the upgrade in technology is a huge selling point and factor for potential renters looking for rental apartments. It’s the first thing that they’ll see upon touring the apartment, leaving a good impression on them and increasing the chances that they’ll choose your rental over the competition.
And installing them is easier than ever! Sure, it was hard when they first came out, but the trouble has been mitigated and these locks provide an added sense of security for both renters and property managers, making them a huge benefit to have. And if anything ever happens, property mangers will also have a log as to who comes and goes into the facility, allowing for even more security.
According to a study done by Wakefield research, 61% of millennials said they were more willing to rent a unit if it had high-tech access control and an electronic lock is just that. And 55% said they’d pay more for this bonus convenience. Other new technologies that they’d pay more for included automated thermostats and lightening controls, meaning they are all worth the investment!
So even though the upfront cost might seem a bit high, it will be worth it in the long run. Not only can you charge more for rent, but you’ll also get more renters interested in your vacant apartments and will save time and money from having staff need to rekey locks when people move out or lose them!