Gone are the days of unwieldy key rings and locksmiths on speed dial. Unified access control is an all-in-one solution for property owners and managers to control every point of access throughout a building from one integrated platform. With unified access control, owners and operators can easily manage everyday access points such as gates, elevators, and amenity spaces from any laptop or smartphone.
Why Do Buildings Need Unified Access Control?
Before unified access control, owners and operators had to spend a lot of time dealing with inefficiencies in old lock-and-key systems. For example, before unified access control, when a new resident moved into a gated property with a gym, that resident needed at least four keys: gate, front door, their apartment door, and the gym. Assigning keys, creating replacements, and collecting them when a resident moves out are all logistical pain points that require a lot of time. And these tasks do little to improve ROI—they don’t enhance the resident experience or boost retention rates.
What’s more, rudimentary electronic access control systems that don’t integrate with each other aren’t much of an upgrade. At just one property, staff might have to juggle entirely separate access systems like intercoms, keypads, and smart locks. Without a unified solution, all of these systems must be managed from separate platforms with unique log-in credentials.
For a property with a lot of access points, this is a time-consuming process, and the chances that somebody updates one system and forgets to update another are too high. Fortunately, access control providers have innovated past this problem too.
The answer? Using technology so every access control system throughout the property can share data, combining all of those disparate systems into one. In the past, onboarding a resident might have meant cutting an entire ring of keys or spending hours in separate access control databases, but a unified access control system means that management can onboard a resident with one click.
How Does Unified Access Control Increase ROI?
According to the analyst firm Ovia, 42% of all apartments in the United States will feature smart devices such as smart locks by 2025. So, why are buildings across the country embracing smart technology like unified access control?
The reason is simple: Unified property access control positively affects ownership’s bottom line. It increases ROI by reducing property management costs, increasing tenant retention, and creating the opportunity for new revenue streams.
Unified access control reduces property management costs.
Whether a building is self-managed or managed by a third party, implementing unified access control can help cut costs.
Overseeing property access is vital to maintain security, but it’s also time-consuming—and time is money. By investing in access control technologies that talk to each other, ownership can streamline and automate the process of coordinating access for residents, visitors, delivery carriers, self-guided tours, and maintenance service providers. Ultimately, a unified access solution eliminates the need for management to oversee property access 24/7, especially during the third shift.
Unified access control increases tenant retention.
According to Multifamily Insider, it costs about $4,000 to turn over a tenant, so it’s worth investing in solutions that improve the resident experience and, ultimately, prevent turnover. And a convenient access experience is one of the most valuable amenities a building can offer.
Properties with unified access control empower residents to unlock doors and navigate the building seamlessly, usually with just a smartphone. And, since all access control devices are managed within one platform, the chances of an access permission mishap are slim. In other words, residents will always have access specific to their individual needs, with little effort from ownership or management. If there is a last-minute problem, management can solve it easily, even if they’re away from the property. That’s a vast improvement compared to the time it takes to troubleshoot several individual key card or keypad systems.
A unified access control system also gives property managers more time to focus on providing personalized services to residents. Staff who aren’t occupied with copying keys and managing multiple systems can add a human touch to the resident experience. When residents establish a personal connection to a property, they’re more likely to renew their leases.
Unified access control boosts revenue.
Unified access control doesn’t just cut down on costs. It opens up entirely new avenues of increased revenue and ROI. According to a Rent.com survey, renters are willing to pay up to $52 more per month for an apartment with smart technology.
That extra money is buying security, convenience, and ease of access. Who wouldn’t want to live in a building where they can unlock the front door, access locked amenity spaces, and open their apartment door from one simple smartphone app?
Today, access control providers hyper-focused on the user experience are partnering with like-minded proptech providers to expand their capabilities. ButterflyMX’s recent integration with RemoteLock is one example of unified access control’s future. By installing the smart video intercom at the front door and enabling integration with RemoteLock, a building can add smart locks throughout the property and connect them with the intercom. As a result, residents don’t have to carry multiple keys or fobs; instead, they control all access points with one mobile app.
Installing property access control devices is always a good idea. But building owners and managers will save time and enjoy a greater ROI by opting for a unified access solution, where everything is managed through one user-friendly platform.
Aaron Rudenstine is chief executive officer of ButterflyMX, the leading provider of access control technology for multifamily, commercial, gated communities, and student housing properties.
Rudenstine specializes in building high-performing teams to launch and grow new technology products. He was a co-founder of Citymaps, which was acquired by TripAdvisor in 2016, and he is an investor in reddit, Button, Omaze, HENRY The Dentist, Parallel Wireless, Clear Ballot, Pinata, and FilmRise.
Rudenstine is an angel investor, board member, advisor, author, and a results-oriented technology executive with extensive experience at startups, growth-stage, and publicly traded companies. He holds an MBA from Harvard.
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