With the growing popularity of internet-connected devices, collectively called the Internet of Things (IoT), more renters are looking for homes that reflect their connected lifestyles. Over half (54%) of renters expect properties to include smart locks and other smart technology. In fact, one study showed that 52% are willing to pay at least $20 more a month for smart home amenities.
With these figures in mind, you might be considering trading in your property's traditional locks for smart locks. Before implementing such a system, however, weigh the benefits against the following factors.
Like other IoT devices, smart locks can be vulnerable to security breaches since they're connected to the internet. Security researchers have found that design flaws in mobile apps or unencrypted Bluetooth communication can allow attackers to capture data and gain unauthorized access. These vulnerabilities not only put residents at risk but increase your property’s liability.
While keyless entry systems might make it easier to offer property tours, help residents who are locked out, or grant access to vendors, there are some drawbacks. For example, they come with the administrative burden of programming fobs, cards, access codes, or biometric fingerprints.
The locks need to be reprogrammed not only when a resident moves in or out, but also if the locks have been compromised in some way, such as by hacking or a resident losing a fob. If your property uses a keypad system, access codes must be changed regularly — regardless of whether or not a breach has been reported — to make it harder for a potential intruder to figure out someone's code. Depending on the size of the property, managing access rights could be a full-time job.
You might think implementing a keyless entry system eliminates the need for key control, but that's not necessarily the case. Here are a few reasons why:
Although some smart locks operate without traditional keys, many still have key slots that allow you to use backup keys in case the smart lock malfunctions — and having this option is critical. Why? According to a locksmith specializing in both mechanical and smart locks, firmware errors, misconfigured settings, or software glitches can cause smart locks to malfunction. Some users have reported that certain models of smart locks show the lock is unlocked when it's not or simply won't open.
Even after installing a smart lock system, you could still have some traditional locks on your property, such as on common area doors, patio doors, or outdoor storage closets.
Some smart lock systems use access credentials such as cards or fobs. It’s important to treat these credentials with the same level of security as physical keys. Tracking access to cards or fobs is critical if they’re programmed to open all units, which is in effect like using master keys. Unless your property is truly 100% digital, you’ll still need a key control policy to manage traditional keys or physical access credentials.
Renters might be willing to pay more for keyless entry, but consider if it's worth the added administrative burden, security risks, and effect on the resident experience.
This post was originally published in 2017 and updated in 2025.