If I am not mistaken, it is general practice to change the locks when a tenant moves out. I understand why that is and I do the same. What I don't understand is why do you charge a tenant for not returning the keys and/or for damaging the locks if you are going to change the locks anyway?

Some LLs like myself use a master key system which doesn't require us to change the actual knob. Instead, we just swap out the key cylinders.

I use a master key system, and I move the locks from house to house. I don't buy brand new every time I change tenants.

I use Landlord locks with the iCore series that can be quickly changed out. In addition to the "master" key that fits all my locks, I also have a "control" key that allows me to pull the core and insert a new core in about 10 seconds. Voila...done! So rekeying for me is a breeze, and one would think that means I should charge for non-returned key. I just have one extra set of cores, and each time I swap out an old core with the spare core, the old core become the new spare to go on the next vacancy.

But.....

The keys we use are commercial grade and cannot be duplicated by anyone except a professional locksmith. So if I have 3 "tenant" keys to a property (2 for the tenants, 1 for me as a backup) and the tenant fails to return 1 or 2 keys, then I have to take my backup key to the locksmith and have them create 1 or 2 new keys so I once again have 3 "tenant" keys. This takes about 45 minutes of my time, which I value highly, and there's also the actual cost of $5 per key. So I charge $45 for 1 key or $50 for 2 keys. My trip charge is $40 of that total + $5 per key. I didn't go into business to work for free, and that 45 minutes is time I don't get to spend doing something else I'd rather do, like going kayaking with my kids or enjoying a beer down at the local brewery with some friends.

Now... in your situation when you're moving locksets around. Each lockset is analogous to my lock cores. They have to be changed, but you should be using that same lockset somewhere else. So if not all keys are returned, you still have to drive somewhere (maybe Wally World?) and get them to create one or more keys so you have enough spares to give out to tenants and keep a backup for yourself. If you value your time, you will charge for that. The tenant had the key; they failed to return it. Bill 'em.

At the end of the day, I'm a pretty nice guy when it comes to this situation. If the tenant had to call a locksmith out to create another key, there's a bare minimum $60 trip charge, plus $5 per key. Again, I only charge $45-$50, so I'm saving THEM money for solving their problem.

You're welcome, Mr./Mrs. Tenant.

I keep a spare set of deadbolts that I put on a vacant house while I run the existing set to the hardware store. The hardware store keeps a card on file with the combinations used at my properties. Once the deadbolts are rekeyed, I put them back on the property.

A tenant was having trouble with an ex, and he damaged the lock trying to get in. Tenant texted that she’d pay all costs of replacing lock, and rekeying when she told me about the damage. And she did.

I charge for any non-returned key as well as any damaged locks or handles (or if they changed them).

The reason is because it's MY TIME and MONEY to get another set of keys and/or put in different locks.

I don't use landlord locks (or that type) but I do use Kwikset locks that I can rekey. Yeah, it only costs maybe $3 for a new key BUT again, it's MY TIME and now I have to go make more keys.

Yes, I will re-key the lock anyway but having only one or two keys vs the 3 or 4 that I should have now makes me have to do it again.

I get the iCore series from LLLocks. When I need additional keys, I call or email them and they punch them and send them to me.

RB, that is a very good point. It took me a minute to get what you were saying.

I usually give 3 keys at lease signing. If they don't give 3 back, there is a lost key charge of $20 which is more than fair in my opinion.

I use LL locks icores and move cores around, if they don't return all the keys I have less available for the next person.

Homes get a single throw deadbolt and a passage knob on all exterior doors. Practically impossible for them to lock themselves out.

I change locks every time I change tenants.

I master key everything myself (kwikset). If I do not get the keys back I charge $50/door. Maybe I should charge more.

Really like the idea of deadbolt only on the places with two holes in the door. As it is now I carry a spare lockset and deadbolt in my truck. Keyed alike and master keyed.

Zero, I stopped all calls of being locked out, or of broken windows when I switched to using a hall/ closet knob and a deadbolt. As Bonanza said, practically impossible for them to lock themselves out. A few tenants asked about it, looked uncomfortable, so I offered to add a second deadbolt ( which would need a third hole, of course,) but none have taken me up on that.

I always change the locks (re-key them) upon move-out. So I do not want the old tenant's keys except for the symbolic surrender of the premises. I do not charge for un-returned keys, because they are worthless to me and to the ex-tenant.

Damaged locks are another story.

Busy,

When I read your post I was all but convinced that I was going to change my system.

Then I get a text from a tenant about the deadbolt not working. Their key works on the lockset but not the deadbolt.

Easy fix as usually it is just in need of some spray.

I show up the next day and spray both locks. Grab my master key and viola! Then I go about my day.

Talk to the tenant a day later and no joy with the deadbolt. I go back and try the copy of the tenant's key I keep in my truck. No joy, but the master key works.

Took the lock apart and found that one of the master pins had slipped thru. It happens, although very rarely.

Got it all back together and life is good again. Tenant used just the lockset and a kick bar that I provided at night.