Changing the Locks on your Investment Property

Being a landlord comes with a host of responsibilities and the first thing that every landlord has to do for new tenants is to change out the old locks with new locks. This is true for new properties that you have just acquired, true when you have a new tenant, and of course, when you buy a new home to live in you need new locks as well.

There are a variety of ways to change locks for new resident tenants--such has having a series of locks that are rotated out from property to property, hire a locksmith to change the locks or you can do what I do--reset the locks to new keys yourself. No special training required and all three doors on your rental property can be reset in a matter of minutes to one new key. The only special equipment required is the lock itself. 

There are a couple of lock manufacturers these days who manufacture self "re-keying" technology that turn your inventory of different keys into an inventory of locks. Here is how it works:

• You install new locks with this re-keying feature on your investment property doors. Front, back and interior garage/utility doors. 
• Next, you select a key from one of the locks that you want to use with your next tenant. Label it A or 1A for easy reference.
• Label or number all your new keys that are different from key 1A and store them for future use. 
• Next you are going to follow the simple directions that come with the locks to re-key the locks. The procedures include inserting a smart tool into the lock face along with the original key that opens the lock. Once the lock recognizes the original key, you can insert a new key into the lock to change the lock to the new key. 
• Repeat the re-keying procedure with each of the locks, drink a glass of cold tea and you are finished. No need for a lock smith. No need to replace or rotate locks out on the doors with each new tenant. No problems. 

One manufacturer of this kind of locking system is Kwikset--a name well know in the lock manufacturing market place. Head down to your local hardware store and check it out. Just another little thing that you can do on your own to save time and money in managing your own rental property.

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