An increasing number of building managers and owners are installing proptech devices like cameras, security systems, and smart electronic locks in their properties. Why?

  • Because prospective renters demand it: A survey showed that “a significant majority of renters, 82%, want at least one smart device or system in their homes.”
  • Because property managers and owners need it: Proptech can be a competitive differentiator, allowing for more efficient property management and higher rental fees.

Smart locks are high on renters’ wish list of proptech devices. Here are five reasons that smart locks can play a central role in every proptech package:

1. Securing Customers

Smart locks are great at securing a property and the people who live there—a major concern of both homeowners and renters. With keyless entry and other features, today’s smart locks are, in many cases, more secure than traditional locks.

2. Simplifying Property Management

Smart locks make it easy to manage properties across several states. With smart lock user codes, managers can grant contractors access to any unit at any time. And the information trail provided by connected smart locks tells managers exactly when a tenant moves out, when workers have performed their turnover services, and when a new tenant has taken occupancy.

3. Facilitating Property Tours

With self-guided touring, prospective renters can locate and “check into” a property using their phone, tablet, or laptop. Once approved, the prospect will receive a one-time entry code for a smart lock that gives them access to the property. Property managers no longer need to spend hours responding to leasing inquiries or being present at showings.

4. Eliminating the Key

Because smart locks can be unlocked and locked via simple user codes, or remotely through any Web-enabled device, keys can be eliminated, so managers don’t have to physically meet with the renter to hand them a key. There’s also no need to change or rekey the locks when units turn over, which can become an expensive proposition. And apartment dwellers love the convenience of keyless entry.

5. Remote Controllers

Working through a central hub and a home automation protocol like Z-Wave, smart locks can wirelessly communicate with everything from thermostats to lighting to other security devices. And the renter is granted the same power. Also, in the above scenario, renters can set up customized “scenes” that will take effect upon entering the apartment.

Kwikset has addressed the rise of proptech in the multifamily sector—and the growing popularity of smart locks among renters—by introducing UNITE, the company’s first electronic access control solution for multifamily properties. Consisting of newly designed smart locks and an advanced web interface, UNITE offers an effective way of managing properties while increasing profitability for owners. And it gives renters the convenience, increased security, and technology they crave. It’s a solution that dovetails perfectly with the oncoming proptech tidal wave.

Learn more about what technology Kwikset can offer your home.