Lock boxes sound easy enough, it’s a box that keeps a key locked securely inside. They’re used nationwide by realtors, contractors, vendors, asset management companies, etc.
What most people don’t realize is the level of safety from one box to the next. With most of these boxes, once you set the combination, it stays the same until it’s manually changed again. There is also no way to track who used the box and when. Once you give a combination to anyone, you’re trusting that person is going to keep the combination safe and to themselves. If they write it down and someone else sees it, you don’t know. If they happen to leave the box closed but set to the combination it’s really unlocked.
When 3 people get the combination, and something is broken inside the home, or a door is left unlocked, who is to blame? There is no way to prove or hold anyone accountable. If you are a licensee with E&O insurance, using a lock box that doesn’t track access to a home is considered negligence in many states and they will not cover a claim.
Our lock boxes are much more expensive. They are top of the line and track access better than anything else out there. We know who went into the home, and when. We can also provide short term codes assigned to an individual should the person not have access through a realtor key. These codes expire after 60 minutes.
Having great lock boxes eliminates many problems. It minimizes the chances of theft of either your property or a current tenant’s property.
We do not let unlicensed people into a home to see the home for themselves. In our honest opinion it’s lazy for property managers to do that and just puts a lot of risk on homeowners and tenants.