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5 Things You Should Know About Smart Locks For YOur Properties

5 Things You Should Know About Smart Locks For YOur Properties

Considering installing smart locks for your Long Island, New Jersey, or Manhattan MDU or office space? You’re not alone. In fact, smart locks have become so popular that the global smart lock market size was valued at USD 1.38 billion in 2020. The demand was recorded at 8.9 million units and is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2021 to 2028. (Grand View Research.) Why is there such a large growth rate for smart locks? 

5 Things You Should Know About Smart Locks:

  1. How Does It Work?

Smart locks, a keyless door lock which allows residents to open their room without having a physical key, connects to a Wifi network which enables a passcode to unlock the door. Yet, there are other ways to open your door, depending on the smart lock brand. A few examples include: using an apple watch, smart phone, key card, or passcode. 

  1. What Brands Of Smart Locks Are Available on Long Island?
  • Latch 
  • Schlage 
  • Kwikset
  1. What Are The Benefits For A Property Manager?

There is plenty of value in smart locks for Property Managers in Long Island’s tri-state area, especially lower operating costs and security

Smart door locks provide maintenance staff and contractors access to units remotely, removing the need for accompanying staff (Parks Associates.) Accordingly, they grant access to units remotely for unaccompanied viewings, package delivery, or third-party services, monitoring labor time for contractors in each unit, and minimizing key replacement costs.

As for security, smart door locks can track who enters and leaves the property using temporary, unique access codes as well as bar access to evicted residents.

  1. What Are The Benefits For Residents?
  • Access lock from smartphone devices
  • No key required. Forget the hideaway key!
  • Stylish design
  • Easy to use
  1. What Is The Cost Of Smart Locks?

Smart locks are known to be highly cost-effective for Property Managers, leading to a strong ROI. Interested in a quote for your next property? Meet with one of Powers ioT’s Long Island-based Account Representatives today and we will walk you through the details of adding smart locks to your apartment, office, or other MDU.


Use our form to estimate the initial cost of renovation or installation.

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