Managing building keys efficiently is one of the biggest challenges in property management. Whether you're overseeing a single apartment complex, multiple rental units, or commercial properties, losing track of keys can lead to security risks, tenant frustration, and costly lock replacements. Traditional key management methods, like manual logs or simple key hooks, may not be enough to handle multiple properties effectively.

Property managers must implement modern, reliable strategies to ensure keys are always accounted for while maintaining security. Poor key tracking can lead to unauthorized access, theft, or even liability issues. Imagine a scenario where a key goes missing, and you have no system in place to track who last used it—this could be a disaster. Without proper organization, property managers may struggle with delays when tenants or maintenance teams need access. Worse, a lost key to a high-security property may require an expensive rekeying process. Having a structured approach to key tracking can prevent these issues, saving both time and money.

The right system also helps property managers quickly retrieve keys when needed, preventing unnecessary stress. A strong key tracking method enhances security while ensuring smooth daily operations. Investing in a proper key management system doesn't just protect the building—it also helps maintain tenant satisfaction. Efficient key tracking improves access control, making it easier to handle emergency maintenance requests. Whether you're using a digital system or a traditional lockbox, having a clear process is essential. By implementing the right tracking methods, you can reduce risks and improve efficiency in your property management business.

1. Build Key Ownership By Writing Down Specific Office Key-Handling Rules

It’s all good once your staff knows who’s responsible for the key and what kind of rules and fines are connected with handling keys. Every new employee needs to be educated on what should happen with the keys when they take them out from the key cabinet, and what’s the fine in case keys get lost. Who pays for the key replacement or changing locks? Agents need to know that they would be held accountable in case anything happened.

2. Use Online Key-Tracking System

A system that quickly tells you where the key is and when it’s due to be returned, can be a real life-changing factor for an agency. An app like KeyNest PRO scans and locates keys with just a tap of the fob on the mobile phone. It also gives information on any contractor holding a key and even sends automated SMS telling the key holder to return it. Find out more about KeyNest PRO.

3. Attach A GPS Tracker To Each Key Set

Location trackers are becoming more and more common and are now small enough to attach to a key. They would be helpful in case the key is not placed on a hook in the key cabinet but is misplaced somewhere in the office. The loud alarm activated through an app would help you locate them in no time.

However, usually, GPS trackers work only up to the range of 100-200 feet. So if the key is outside the office, it’s best to still rely on an automated system like KeyNest PRO, which saves the last known key exchange location and adds a GPS stamp to it.

What you should never do while working on improving key tracking in your real estate agency?

Never stamp keys with an address - in case they get lost or stolen, it’s way too easy for a thief to enter
Never let a GPS tag better run out of power - they generally last quite long, but keep an eye on the power level from time to time, just to be safe
Don’t keep keys on a simple hook with no other safety system. It’s easy for the cabinet to fall, or for a couple of keys to fall on the floor - which could lead to issues with keys identification or even locating them in case they fell under a table or furniture piece
Don’t pass keys to contractors or cleaners while out of the office, with no official receipt or signature on key collection. The moment when keys are moved from hand to hand, and a person who doesn’t work full-time in your agency gets the keys is the most problematic time - there’s no accountability and the chance for the keys to getting lost is high. Always make a formal note in your system about the key's location.

Final Thoughts

Tracking building keys effectively is crucial for maintaining security, efficiency, and tenant satisfaction in property management. Without a structured key management system, property managers risk misplaced keys, unauthorized access, and expensive lock replacements. Implementing a digital key management system streamlines key tracking and improves accountability, while a structured key checkout process ensures every key exchange is properly documented. Secure lockboxes provide a reliable storage solution, making key retrieval easier while preventing unauthorized access. A clear key replacement policy reinforces responsibility among tenants and staff, reducing the frequency of lost keys. Regular key audits help property managers maintain control over key inventory, ensuring security protocols are always up to date.

One of the most efficient solutions for key tracking is KeyNest Points, which offer a seamless way to manage key exchanges without relying on traditional handovers. By using KeyNest’s secure drop-off and collection system, property managers can eliminate the risks of lost keys, provide 24/7 key access for tenants and maintenance teams, and reduce the hassle of manual tracking. KeyNest Points integrate with digital systems, making it easier to track keys in real time and enhance operational efficiency.

For property managers looking to improve security while simplifying key handovers, KeyNest provides a smart, scalable solution that ensures keys are always accounted for. Investing in the right key tracking methods—especially with services like KeyNest—can help property managers save time, reduce stress, and enhance building security.

About Us

KeyNest offers you a convenient service for storing and exchanging your property keys. You can drop off a key at any of the 7,000+ locations in our network, so there’s one such Point located next to your property.

Guests, cleaners or contractors can then collect the key securely from a KeyNest Point or KeyNest Locker which is usually open 24/7. You'll be notified each time the key is picked up or returned, and you can even customize check-in and check-out times. By leveraging technology and a global network of locations, KeyNest continues to redefine property management, offering solutions tailored to meet the evolving needs of the rental market..

KeyNest has an ever-expanding global network of locations located just minutes from your property. To find out more you can contact us.

Neil Beltran 25 February 2025

3 Tips To Track Building Keys In Property Management