A $7500 claim costs $75 to file. Subscribe to email newsletters from the Union-Tribune about news, sports, business, opinion and more. OT: most beautiful music video I've ever seen. and charge for extra key was $15.00, but you can charge what you want. Most locks these days can be rekeyed without removing them, I did this myself to a lock I had to repace in under 30 seconds and I'm no Houdini. One of the rotation sets, we needed an extra deadbolt for another house that was keyed differently. The Do not duplicate keys are a joke,, any hardware store will copy they don't mean much. Let us know what happens. If you signed up for BiggerPockets via Facebook, you can log in with just one click! I would go ahead and buy the locks that can be rekeyed by inserting a tool and a new key. So far, they work well for me. Ultimately, re-keyable locks and keypad systems help prevent lost-key syndrome, which means more peace of mind for you and your tenants in the long run. Kathy is an award-winning investigative journalist, not to mention a writer, brand blogger, decor/DIY expert, renter, commercial landlord. If they are moving, do you change the locks between tenants? Just make sure your matching local cost to replace an average lock by a locksmith and the judge will support the charges in our experience. That said, there is a security and liability issue that has been codified, that would indicate that a landlord should do that as standard operating procedure. Cloudflare Ray ID: 5f7837830c9b0609 They could charge a rekey fee of what it costs to have a locksmith do the job. Check your lease to make sure you’re allowed to copy your key. Swapping out the locks is inexpensive but it buys a lot of goodwill . ALWAYS have keys stamped "Do Not Duplicate" (you keep the master, unstamped version). Actually, I should of have been more clear on the situation. The contract should also state whether the tenant is allowed to make key copies. Free online rent collection, tenant screening and credit reports, Written on September 26, 2018 by Kathy Adams. Most locksmiths we have used, are always $200+ for some reason; new lock, lock picking, or both combined... Our handyman keeps our old locks, you will start to have a collection of locks the more units you have. You might also like: Make some standard fees that you would apply to anyone, not just one person, and tell the tenant that's what they owe you for fixing the issue. This week, Kellman emphasizes the importance of returning keys after moving out of a rental. That means you will have to pay for the costs of rekeying the existing locks.". Earlier this month, Pfizer and Moderna separately announced each of their COVID-19 vaccines had proven at least 90 percent effective in clinical trials. Send it to rgriswold@retodayradio.com. The lawyer guy says "Since you have a copy of the key, the landlord should have to actually change the locks to protect against liability in case of a future unauthorized entry by a key. Back when I was a renter, my landlord allowed me to choose an access code for the entry door keypad. Area suggestion and is it a good time to buy? By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions. Having a spare will help if you... Return All of The Keys. Using a phrase of random words (like: By signing up, you indicate that you agree to the, 3 Steps to Choosing Quality Tenants for Your Rentals. 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Every time a tenant makes a key copy or loses one of their keys, there’s a chance a nonresident has easy access to that rental unit. -The $200 cost is about right for re-key depending on the situation (even if the charge is bs). Your email address will not be published. Also sign up for our community newspaper newsletters, and CaregiverSD. If the landlord has landlord locks that easily rekey they can choose a rekey fee close to $50 – $100 for their time. “At the commencement of a tenancy agreement, a photo showing all keys to the property should be taken, copied and signed by the tenant,” Nancy said. Locks and keys are important considerations for both the landlord and the tenant in any rental agreement, so both parties must be aware of their responsibilities as stated in the lease agreement to prevent any disputes. I guess I need to add a line to my budget now. Brought the whole bundle down there (it was a Lowe's brand - Gatehouse), and they said it was store policy that they would not re-key without a receipt. Locksmiths are not cheap. Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood. I was expecting an $10 charge since a new tenant is taking over, the place has to be rekeyed anyhow. If they feel unsafe because of the lost key, then I would charge them for changing out the lockset. I misplaced the key n had no time to duplicate another one at home depot for two dollars. Understanding we need to … If they didn't feel good about that then I'd probably just go over and swap the locksets out as we keep spares for when people move. Related: Lock Lock, Who’s There? If your lease does not cover what happens with locks, that's okay, because if the tenant did not live there, they would not have broken, damaged, or lost the key, it's covered under normal wear and tear laws.. Normal wear and tear does not mean breaking, damaging, destroying, warn down fastern than a normal lifespan due to abusing habits, like not cleaning drip pans on the stove till they are black and can't be cleaned, that's not normal. Just want to scratch everyone's brain a little to see how you had deal with this in the past. When I managed property the Lost Key fee was $15. Single lockset runs in the $30 range, while a double set runs $50's, plus install cost. Lease Purchase, Lease Options, Short-Term and Vacation Rental Discussion, Tax Liens, Notes, Paper, & Cash Flows Discussion, Mobile Homes & Mobile Home Park Investing, Multi-Family and Apartment Investing Forums, General Foreclosure & Pre-Foreclosure Forums, Get Foreclosure Help - Stop Foreclosure Forum, Real Estate Investor Marketing Help & Advice, Real Estate Technology, Social Media & Blogging, Property Insurance Questions & Discussions, Tax, Legal Issues, Contracts, Self-Directed IRA, Private Lending & Conventional Mortgage Advice, BiggerPockets Real Estate Investing Summit, Housing News & Real Estate Market Discussions, Team, Maintenance, and Taxes & Accounting. Return every one of your apartment keys to the property manager or landlord on move-out day. Why are my rental applications always rejected? Can't speak for HD. At least their letting you know, If it was me I have a copy of the key for the lock on the unit, so I would remove the lock take it to Big Box or Hardware store ask them to re-key the lock and give you 5 new keys.. cost is simple, or use it as a swap lock and put on new lock for now,, If you have matching locks take them both off and in for re-key,, the down side is tenant has to be home while your out doing the locks. I think the charge was 75 bucks and covered three exterior doors. If you have lost three keys, then the lock needs to be replaced.
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