Deposits on locks

LADYLIFT1

What's your thought on charging a dep on locks. if they return locks and keys give dep back,  Or just sell the locks and keys.  Do you think there is a liability  issue?

themage

We just sell the lock and keys. We refuse to keep a copy of the key for liability reasons.

We have had locks returned to us, but we use them for other things and don't re-issue them to tenants

LADYLIFT1

do you have a master key   incase you need to get in 

MamaDuke7

LADYLIFT1 said:

do you have a master key   incase you need to get in 

Nope!  That's what lock cuts are for.  

There is HUGE liability in keeping keys!

rmason

We sell the lock (circular) and keys to the customer . . . theirs to keep.  If they return the lock and at least two keys we keep them and recirculate them when possible.

Nazpastortony

We give a new cylinder lock with 3 keys at move in as part of the deposit.  Upon move out if the required 2 week notice was given, unit is in good condition and empty and swept out AND lock with 3 keys are returned, we return the security deposit.  This is explained very clearly during the move in lease signing process.  That is the only way we reuse the locks.  I keep the single and double key locks for misc. uses (someone left their unit unsecured...I'll lock it with one of my locks and get a hold of them so that they can get their lock back in, I'll swap it out but just wanted their unit secured in the meantime, or if they lost it, I'll put a new one in with 3 keys and charge them).  We also do not keep any keys.

teesee150

You may want to take a look at Davinci Locks.