Save Money, Improve Security, and Reduce Liability with Intelligent Key Management Tools

Property managers wear multiple professional hats each day. You hire staff, attract new tenants, manage projects, settle tenant disputes, and juggle a variety of other tasks to keep your properties running efficiently. Data suggests that 45% of property managers would like to accomplish these occupant and administrative tasks more efficiently. Intelligent key and asset management solutions can help you make this goal a reality.

Save money and time

Maintenance and repairs including rekeying can account for up to 80% of a property’s annual costs. Effective key management systems reduce these costs by tracking keys at all times. If a key is not returned following a shift or workday, or if a maintenance associate is unable to locate a key, you simply look in the system to identify the person who had the key last and contact them to retrieve it. You can configure your system to send an alert when a key is not returned within defined time parameters. Your employees will understand how the system tracks keys to individuals, and, as a result, they will take greater care to return keys and assets on time. Property managers who use Traka ASSA ABLOY key management solutions report a significant decrease in the time they spend searching for unreturned keys. Utilizing these systems not only saves money and time; it also makes employees more accountable.

Additionally, locker systems as part of key management can reduce on-site theft cost by tracking who last accessed maintenance equipment, how long they had it, and when it was returned. It can also report on faulty equipment – which adds another layer of preventable liability costs, and enhances the safety of the users. Furthermore, a locker system can charge equipment and utilize a “first in – first out” process to ensure only the most readied equipment is used for a job.

Replace Fewer Keys

While the day-to-day productivity you will gain from reliable key management systems is valuable, the greatest benefit comes from the reduction of permanently lost keys. Replacing a single lock – or many, in the case of a lost master key – can wreak havoc on your property. Lockouts slow repair work, frustrate tenants, and fracture relationships between management and employees. These challenges may entice you to opt out of replacing a lock that you believe corresponds to an unmarked key. However, maintenance workers frequently identify unmarked keys with masking tape or erasable markers so failure to replace the lock can create security vulnerabilities and serious problems. Products like the Traka HC Series include iFob, a key identifier that allows you to identify keys quickly, easily, securely, and remotely.

Reduce Liability

Intelligent key management solutions reduce liability by providing a complete chain of custody for all property keys. Property managers who use intelligent key management systems know the location of each key, the time each key was last accessed, and the person who last accessed it. This knowledge allows you to confidently and accurately respond to a variety of common key-related property issues. For example, property managers frequently hear from tenants who believe something was stolen from their unit, yet there is no sign of forced entry. In these situations, tenants often accuse the maintenance staff of stealing and want to hold the property accountable for losses. Maintenance professionals are rarely the culprit, but without solid proof, a stressful battle can occur. Property managers who use key management solutions can quickly generate a report to resolve accusations, maintain tenant trust, protect employees, and avoid costly legal fees.

Peace of Mind for Property Managers, Employees, and Tenants

Working efficiently and preserving the integrity of tenant keys and locks go hand-in-hand. Intelligent key solutions benefit property managers, employees, and tenants alike by improving security, increasing accountability, and reducing unnecessary costs. These outcomes make properties that use intelligent key management solutions highly desirable in today’s competitive market.