For many apartment communities, rekeying is simply part of turnover. But between move-outs, lost keys, vendor access, and staff changes, physical keys create an ongoing cost that quietly eats into your NOI.
What rekeying really costs
A typical rekey runs $85 to $150 per unit, and more in some markets. Now multiply that across:
- Resident turnover
- Maintenance vendors
- Lost master keys
- Amenity access changes
- Student housing turnovers
A quick example
A 200-unit community that turns over 80 units in a year spends between $6,800 and $12,000 on move-out rekeys alone, before a single lost master key or vendor change.
The bigger issue: keys leave you blind
A physical key gives you no visibility at all. With keys, your team has:
- No audit trail
- No entry logs
- No real-time view of who has access
- No way to cancel a key instantly
If an incident happens, there’s often no reliable way to know who entered a building or unit.
Electronic access control turns every door into a record: who has access, when they used it, and a way to remove it in seconds.
How electronic access control helps
No more rekeying
Digital credentials are added or removed instantly, without replacing a single lock.
Simpler maintenance
Technicians and vendors get temporary mobile credentials instead of physical keys.
Better security and accountability
Every entry is logged with a time stamp, so you have reporting when you need it.
Self-guided tours
Offer controlled apartment tours without staff on site.
New revenue
The same system can manage paid amenities and controlled spaces:
- Premium parking
- Storage units
- Fitness centers
- Coworking spaces
- Package rooms
Residents expect smart access
Today’s renters expect convenience, flexibility, and security. Mobile credentials, smart locks, and contactless entry are quickly becoming standard, especially for younger and tech-savvy residents. Being able to unlock a door from a phone, give a guest temporary access, and never deal with a lockout is part of what makes a community feel professionally run.
Properties that still rely on physical keys can struggle to compete with communities that offer this.
Ready to stop paying for rekeys?
A modern access control system helps your team:
- Eliminate costly rekeys
- Streamline maintenance and vendor access
- Strengthen building security
- Modernize the resident experience
Schedule a free property assessment and we’ll show you what switching would look like for your community.
