A lockbox is a device that lets you store your keys inside., the keys to get inside your property. This is not such a good idea
A lot of people out there, and I’m including investors, put a lot of faith in their Property Management Companies or individual Property Managers. Is a common belief that your Property Manager has your back and is handling your investments as best as possible, right? Well, you shouldn’t be so easily fooled. These companies, or individuals, make mistakes and bad decisions. Today, I’m going to show you a good example.
Let me introduce you to
This is what they put in front of your property when it is for sale, rent, or any case where the unit is vacant.
So, now I want you to tell me something.
I know my neighborhood, and this couldn’t keep a ten-years-old out. Could you imagine this thing, with your keys inside, attached to a property you are rehabbing, you’re going to rehab or you need to rent out? Remember, your Property Manager has one of these with the keys in it.
Think about all the materials and labor costs that you will have to endure because of this dumb ass decision.
Let’s use the Thieves Logic for a second
If you are a criminal, and walking down the street you see a house with an extra lock on the door you may think:
“Hmm… there should be something valuable here.”
You approach the door and give a closer look at the extra lock. It has a little door!
“I wonder what may be inside this little guy.”
Our NOT-friend picks up a rock, or he can even use a lock pick if he’s a pro, opens the lock, and what he finds? That’s right: your keys!
“This was such a baby’s game.” He says before taking the keys.
I see a lot of people making the mistake of choosing this thing to “protect” their properties. But, guess who’s responsible after this, predictably fails?
You are. Because is your property.
If those suckers from the property management company weren’t using these easy-to-break-in-boxes you wouldn’t have to worry about somebody getting into your property. You’re not being selfish by thinking that they should have more security, and even send someone every now and then to check if everything is alright.
Make sure that your property management company isn’t taking advantage of you. And, by taking advantage, I mean they’re stealing from you knowing every detail, or by omission doing stupid things like using this to “protect your property”.
If you’re interested in more tips about how to avoid theft by your Property Manager or your Property Management Company check out my e-book Your Property Manager is Stealing From You. Is just 15$, limited offer!