Systems – The Keys to a Successful Property Management Business

Here are a couple systems that will help you keep your life while owning a property management company or while operating as a landlord.

Rental Unit Key Management In profession of property management managing house keys can be very confusing if a good system isn’t used. Below are the two types of key management.

  1. In office key management
  2. In field key management

In office key management Purchase a lockable key cabinet to store keys in your office. Keep at least three sets of keys. One set needs to stay in your office for the use of you and your employees/vendors. The other two sets can be given to the tenants. Make sure the property owner keeps a set as well. In office keys should always be kept in a locked cabinet. When writing the address on the key tags never write the entire address on the tag. Should the key get lost or stolen, you won’t need to worry about uninvited guests entering the unit. For example, the address 1234 Fake St. Apt A should be written on the tag as either 1234 A or Fake St A. This will ensure that no the property will be recognizable to someone not associated with your office.

As your property management business grows larger and employs more office staff you will want to incorporate a key checkout system. Sell my Florida property management business Have one employee (perhaps the receptionist) be responsible for the checking out of keys. The checkout person will write the employee’s name and the date/time they took the key. This system will ensure that keys that go missing will be easily traced back to the last person who had the key.

Field key management Keys outside the office are best controlled by the use of contractor key boxes. These key boxes have a combination lock and a shackle so the lock can be hung from a doorknob or locked onto something like a metal post. For the sake of convenience set up an easy to follow key box combination system so everyone in the office knows the combination to each lock. You can set all the combination numbers to the last four digits of your company phone number or set the combination to be the first four numbers in the property’s address.