KeyTrak® Report Finds Smart Locks Are Popular, But 53% of Multifamily Professionals Still Use Metal Keys

Nearly half (47%) of multifamily professionals use smart locks at their apartment communities in some capacity, but 53% still use traditional metal keys exclusively, according to a new report by KeyTrak, Inc., the leading provider of key and asset management systems.

Titled “Smart Locks vs. Metal Keys: How are multifamily communities managing access control in 2022 and beyond?,” the report examines how U.S. multifamily property management professionals use and feel about smart locks (also known as electronic locks or keyless entry) and traditional metal keys.

“Everyone is talking about smart locks, especially in the multifamily industry, which is a significant part of our customer base,” said KeyTrak Director Andy Wright. “We wanted to know how property management professionals use them in their communities and how they feel about them. Less than 30% feel smart locks are safer than traditional metal keys. Metal keys aren’t going anywhere.

“Still, we do see that smart locks are becoming more popular,” Wright added. “So, how do keys fit into that? Really, how you unlock doors isn’t as important as securing anything that controls the locks — whether it’s keys, fobs, or access cards – and holding employees accountable for their access. The goal is to balance security and convenience for both residents and on-site staff.” 

Core Findings

• 47% of respondents use smart locks in some capacity.
• 75% of respondents who use smart locks also use traditional keys.
• 53% of respondents only use traditional keys.
• 67% of those who use traditional keys have no plans to implement smart locks.
• Ages 18-34 prefer smart locks, whereas ages 45 and above prefer traditional metal keys.
• Only 28% of respondents believe smart locks are safer than traditional locks.

Read the full report here.

Methodology

KeyTrak’s market research team surveyed 202 multifamily customers, using a combination of online and phone interviews, throughout November and December 2021. Respondents primarily included property managers, other types of managers or supervisors, leasing agents, and maintenance professionals.

About KeyTrak, Inc.

Since 1987, KeyTrak's electronic key and asset management systems have helped businesses worldwide enhance their operations' security while improving productivity and reducing costs. KeyTrak believes the difference is in the details, which is why the key management provider takes single-source responsibility for all its products. To meet customers’ needs, the KeyTrak team performs all research and development, programming, manufacturing, and support in-house at the company’s headquarters in College Station, Texas.