Rental Property Lockboxes

Use Rental Property Lockboxes Always

Question: How much is your time worth?

I can answer that pretty quick. It's worth a whole lot more than this eight hour lockbox. So as a property management company, we put lock boxes on all of our rentals. If you just own one rental property, you should as well. You should not be driving to and from the property every time a contractor needs to access the property to do a big repair, to do a little repair; it just doesn't add up. It doesn't make sense. And it's hard on the contractor as well, trying to line up his time or her time with your time. That makes zero sense. Spend $8 on an inexpensive, but functional lockbox. Make sure you don't get something that you're going to have to replace every two years. This one works well with the spin dials. I've never really seen them fail. Very simple, very easy.

I've heard folks complain that they're concerned that people are going to break into the lockbox. Breaking into the lockbox, the effort would be way more than an effort of breaking a window or breaking a door. As a real estate broker here in Philadelphia that's very active in the property management community, I've not once ever heard of anyone ever breaking into a lockbox. Get over that fear, put lock boxes on all your rentals so you're just saving that massive time. Your best return on investment is your time. So, lockbox your property so you won't have drive to and from each and every time the light bulb needs to be fixed in a property. Good luck!!!


Joe White

Joe White is a Philadelphia Property Manager and Real Estate Broker. He is the owner of Grow Property Management and has been involved in the management, sales and purchases of Philadelphia area rental investment properties since 2008. He is an author and works as a real estate investment consultant and construction manager.

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