The multifamily market has significantly expanded in the past decade. According to reports, the market for multifamily real estate was larger than the market for commercial real estate in 2021.

As more and more American renters and investors display interest in shared housing units, multiple dwelling units (MDUs) have become a common sight. MDUs are residential structures comprising two or more residential units. They’re usually used to provide separate residential units to different families living on the same property.

Multiple dwelling units take various forms. From apartment buildings, condominiums, and multiplexes to mobile home parks and trailer courts, there are various options for homeowners, renters, and investors to choose from. However, most MDUs strive to have one thing in common: offering enhanced security to the occupants via smart locks.

Smart Locks for Multiple Dwelling Units

Thanks to the technological innovations made in the last few years, smart locks have become highly prevalent in residential and commercial structures. Previously, smart locks were almost exclusively used for office buildings and commercial properties. However, smart technology has now made its way into residential buildings as well, particularly shared housing units.

A smart lock uses an electronic mechanism, allowing users to access their doors through Wi-Fi or Bluetooth. It replaces the traditional locks that operate via keys. Instead of using conventional methods to lock and unlock doors, users can utilize smart technology that connects their doors to smart devices such as smartphones. The locks are usually operated through an app that can be set up on a range of smart devices. This makes accessing an MDU much easier and resolves the issue of misplaced keys and being locked out of a housing unit.

Here’s why smart locks are suitable for multiple dwelling units.

They Help Property Managers Streamline Operations

Keeping track of physical keysets is taxing and time-consuming, especially for multiple dwelling units accommodating several families. There’s a greater chance of keys getting lost, stolen, or duplicated. Moreover, tracking keys also takes up valuable time.

Smart locks eliminate the need to re-key the locks if the keys are copied or misplaced or when a tenant moves out. Instead, property managers can simply restrict their access using the online application. Thus, there’s a lower chance of a security breach at the residential unit.

Moreover, smart locks provide property managers with remote access to properties. They don’t need to be physically present at a particular house to generate credentials or set up the smart lock system. Instead, they can streamline operations by granting access to authorized individuals remotely. In case a tenant is locked out, or the property manager needs to access a property, they can use the online app to get remote access. This is especially useful if you live in a different part of town, frequently travel, own multiple properties, or need access at an unusual hour.

Modern smart locks and access control systems grant property managers greater control. They can easily monitor and access their property whenever and from wherever they want. The smart technology also provides prompt alerts to immediately inform them if there’s been an unauthorized attempt to access their multiple dwelling unit, allowing them to take the required action ASAP. Similarly, it allows property managers to respond to emergencies as swiftly as possible, irrespective of whether or not they’re physically present at the site.

They Make Property Viewings Easier

If you have vacancies at your property and want a tenant to occupy the space at the earliest, you need to actively conduct property viewings. Smart lock technology can make this task easier for property managers. Since the technology allows remote access, they don’t have to show up at every viewing, which would take up a lot of time. Instead, they can schedule property viewings at the prospective tenant’s convenience, allowing them access to the vacant property during a specified period.

Smart technology enables self-service viewings that are mutually beneficial to property owners and prospective clients. Visitors can drop by to inspect an MDU at their preferred time and use their smart device to access the house at the scheduled time. Property managers can ensure they accommodate maximum potential clients without being physically present by using smart technology to their advantage. They can track movement during the specified timings to ensure security, allowing visitors to view the property comfortably.

They Attract More Tenants

If you’re looking to attract new residents to your multiple dwelling unit, implementing smart technology can help. Research shows that tenants actively seek properties that provide greater security. According to one survey, residents are willing to pay more for housing units with smart locks than those with traditional locks. This means that incorporating smart technology in your multiple dwelling unit can help your property stand out and become more appealing to potential buyers. It can also help you get better offers and make greater profits.

Smart locks add significant value to renters’ and homeowners’ lives. Adding modern electronic locks and access control systems at your MDU is a great way to get tenants and fill vacancies.

Advanced Security Solutions for Property Owners

Max Video & Security provides comprehensive residential video surveillance tools, access control systems, and security solutions to help property owners secure their multiple dwelling units. From installing smart locks and security cameras at your premises to integrating them with smart video and home automation systems, we do it all. Our smart security solutions are a great way to provide a safer environment to your tenants while streamlining property management.

Get in touch with us today to learn more about our smart locks and access control systems for multifamily housing units.