The Operational Benefits of Smart Access Control

One of the quickest ways to upgrade your property and see immediate benefits is by implementing or upgrading a smart access control system. Not only is access control highly desired by renters (54% of renters already expect your property to have smart locks), but it’s also a huge NOI driver. 

In this blog, we’ll dive into how smart access control systems can reduce overhead, increase operational efficiency, and increase security and visibility across a community or portfolio.

What Is Access Control for Rental Properties?

Access control for rental properties is exactly what it sounds like—any method used to provide, control, and monitor people’s access to the property. Smart locks, credential readers, access panels, and even simple, traditional locks and keys count as access control. 

An access control system refers to both the integrated devices and software platform used to regulate who can enter specific areas. For multifamily and build-to-rent communities, this means the devices at community entrances, amenities, and individual units, along with the software connecting and controlling them. 

These systems are designed to grant or deny access based on factors like identity, time and date, and individual access rights. Modern systems replace traditional keys or mechanical locks with digital or electronic solutions that can be easily managed, monitored, and customized.

Examples of common access control devices for rental properties:

• • • Lockbox: the most basic and oldest method for providing self-access to properties. They are essentially small, secured boxes that hold a physical key, usually with a shackle to attach it to a door handle and with buttons or a combination lock on the face. Can be used on any door, from a home to a leasing office or front gate. 
    • Smart Lock: an electromechanical door lock that can be opened via pin code, app, or sometimes fob. These can be keyed or keyless, often using Wi-Fi and/or Bluetooth connection. They are a step up from lockboxes, offering more advanced features. Ideal for individual homes or units.
    • Access Panel/Reader: similar to a smart lock, but designed for high-traffic community or building entrances. Intended for community or common area access, including front gates, gyms, pools, package rooms, and more.

Security

The main purpose of access control is to provide a secure environment. Access control systems regulate who can enter particular areas, buildings, or common areas. But it’s not just about keeping unauthorized people out; it’s also about managing and monitoring the flow of people and assets within these areas.

Modern security systems are also highly desired by renters—41% of renters cite feeling safer at home as their primary reason for wanting smart technology, surpassing motivations like energy savings or convenience. Traditional keys can be easily copied, lost, or stolen, leaving properties vulnerable to unauthorized entry. In contrast, modern tech offers multiple layers of protection:

• • • Real-Time Monitoring: Property managers can track who enters and exits in real time, with logs that can be easily reviewed if an incident occurs. They can also set alerts to notify them of suspicious activities.
    • Remote Access Control: Property managers can remotely manage access for both tenants and visitors, adjusting permissions and granting temporary access when needed. This is especially useful for managing move-ins, maintenance, or emergency situations.
    • Keyless Entry: With mobile apps, access codes, keycards, or Bluetooth-enabled devices, tenants can access their homes or units with a simple tap of their phone or a wave of a card. For property managers, this eliminates the hassle of key management and enables contactless turnover.

Renter Management

Implementing smart access control also has operational and cost-saving benefits. No more keys means no paying for locksmiths, no resident complaints, and fewer on-site visits, freeing your staff to handle more important matters. Legacy Signature Rentals reported a 100% decrease in lockout work orders after deploying the Rently Smart Bolt Elite, saving an estimated $25k and 150 hours each year. Eliminating the hassle of key management also enables contactless turnover—Dunbar Real Estate Investment Management previously spent 1-2 hours per unit turnover, but after deploying Rently’s access control system, move-ins/move-outs happen remotely within minutes.

Some access control systems, including Rently’s, allow custom schedules and amenity reservations. This means the entry can be automatically locked or remain unlocked on a schedule, or that the entry will only allow users with certain permissions to enter at a given time. 

Property managers can also use smart access control methods to gather resident data. With a complete activity log, they can identify the amenities or areas that guests use most frequently, at what hours of the day or week. This offers the potential of monetizing amenities for additional revenue, if desired.

On the prospective renter side, smart access control enables self-guided tours (SGTs). With a compatible platform, one-time codes automatically generate for SGTs, and they expire after the tour is complete. This is much more secure than using physical keys, which can be copied and stolen. If you are using keys, a smart lockbox is still more secure than a traditional one, because it connects to a larger system the same way a smart lock or access panel does, allowing managers to reset and generate new codes remotely.

Enabling SGTs increases overall lead capture, allowing you to safely expand your showing schedule past usual business hours. 42% of renters prefer a self-guided tour as their first step, more than any other tour format, and many working professionals can’t schedule tours during usual times.

Maintenance and Vendors

Letting in maintenance workers is easy with remote access control. Integrate maintenance with your access control system to automatically provide temporary codes for maintenance workers the moment they arrive. This is more straightforward and secure than generating a new code and texting or otherwise sharing it with your vendors, and having to remember to revoke access later. 

You can also use on-demand property inspection apps like iVueit to visually confirm the completion of maintenance tasks or vacant unit readiness without dispatching on-site staff. Rently’s partnership with iVueit means that all access codes stay within the system, and are only provided to the Vuers upon arrival, just like with an integrated work order system.

Overall, scheduling and monitoring work orders and other vendors becomes more efficient and secure with smart access control.

Reducing Hardware Costs

Deploying new tech across a community or portfolio can be prohibitively expensive, even considering quick ROI. But with modern solutions, there are a few ways to upgrade and scale efficiently, with lower upfront costs.

For a multifamily community, intercom systems are a given. However, traditional intercoms can be limiting. They lack visual verification, so are less secure, and they don’t integrate with smart access control systems or other property management software. They can also be difficult to deploy in existing communities, requiring hardware in every unit.

The solution is virtual intercom systems. The key difference is that the virtual intercom’s cloud-based platform allows users to activate the intercom function via their smartphones, rather than a fixed piece of hardware. This means residents can receive an intercom call and grant access at any time, even when they aren’t home. Leasing staff can even answer intercom calls and grant access from off site, saving time and resources.

Virtual intercoms offer several cost advantages. For starters, there’s no need to install hardware in every unit. You only need one device per entrance/amenity, reducing installation cost and time. This allows virtual intercoms to scale with your business—operators can add or remove units with the click of a button. Read our other blog to learn more about choosing the right intercom system for your community’s needs.

For individual units or single family homes, choosing a smart lock also affects cost and scalability. Some smart lock solutions force operators to either sacrifice future scalability or commit to an entire IoT platform, depending on connectivity. If you start with a Bluetooth-only lock, then five years later you want to upgrade to a full smart home system, your locks might not be able to connect to it. This means you and your residents have to manage them separately from their other smart devices (and pay for two platforms), or replace them entirely. On the other hand, choosing a lock that does integrate with a smart home system usually means you’ll have to buy hubs as well, which is a much bigger upfront investment.

But some smart locks, such as the Rently Smart Bolt Elite, combine Bluetooth and Wi-Fi so that operators don’t have to worry about locking themselves out of future upgrades. The Smart Bolt Elite can function without a hub, connect to a smart home system, and enable self-guided touring, all at the operators’ discretion. Start out with just the lock for resident convenience and streamlined operations, and grow at your own pace.

Conclusion

Expanding the scope of your access control system drastically improves your bottom line and operational oversight. Deciding where to start can be challenging, but there are ways to reduce costs and scale over time. 

To learn more about Rently’s access control solutions, book a demo.