Author: Geokey Marketing Team

During our most recent trip to OpTech, our team walked away with a lot of insights into the prop-tech and multifamily industries (Check out our insights here). One of the final things we mentioned in that report was how rapidly the industry was changing. With smart technology evolving over the past decade and becoming more accessible, property managers are in a position where they need to change how they conduct their operations or risk falling behind in the competitive market. Even with smart technology and AI continuing to be refined, many options are sweeping the market to help managers automate their properties and make them more easily accessible to users. There is an influx of apps and programs that can make operations run smoother and improve users’ quality of life. These are all becoming deciding factors for many residents as they choose where they want to live.

Property managers must shift their focus from enticing new renters with flashy amenities and rooms to retaining them with a positive resident experience. With more multifamily properties opening and property values decreasing, the experience will be what makes renters choose to renew their lease rather than leave as soon as it expires.

What is Resident Experience?

What exactly do we mean by Resident Experience? While it might initially conjure images of pools, gyms, and other amenities meant to entice searching residents, it is so much more than that. It encompasses the entire experience of a resident at the property, from when they move in on day one to their time living in the apartment until their experience moving out. While pools and gyms are great, they only comprise a small part of the resident’s experience and time. What encompasses that experience more is what they do outside of those amenities: when they come home from work, do laundry, turn up the AC/Heater, etc. These parts of the resident experience will make or break whether they want to live on your property or move on as soon as their lease expires.

Why is This so Important?

Especially over the past year, a lot of emphasis has shifted to how properties will need to do more than have flashy amenities if they want to hold on to their residents.

According to a market report by Zego, rent growth is turning negative for the first time since 2020, with the supply of completed multifamily properties rising going into 2024. With more and more competition entering the multifamily space, customer experience will mean everything when it comes to gaining and retaining residents. Many of the once flashy amenities we’ve mentioned, such as pools, gyms, and mail rooms, have become expected for those choosing a place to live.

Resident retention is also important when it comes to saving your property money. While vacancy can be a significant issue and bleed a property of money, the turnover rate can be just as damaging, according to an article by Real Property Management Express, stating that a resident turnover can equal three months’ rent, coupled with the cost of vacancy.

With so many new properties launching with these amenities, residents will instead look for where they will get the best experiences, from smooth move-ins to everyday life. Residents who feel cared for will be more likely to leave good reviews, pass on recommendations by word of mouth, and, most importantly, stay at your property.

How Does Geokey Help Improve Resident Experience?

In that same report by Zego, 630 multifamily professionals were surveyed to gain a full perspective on renter expectations and how multifamily managers can meet their needs. Over 75% of respondents confirmed that resident expectations have risen over the past year, with 57% saying they wanted better amenities and 44% wanting updated/renovated units. It’s clear from the report that residents are looking for more from their experience: what can we do to provide that experience?

1. Geokey Makes Life Easier: Unit access is one of the significant pains plaguing residents and managers alike. Juggling a ring of keys for units, buildings, and amenities is as taxing and inconvenient for the resident as it is for the manager, who has to keep track of every key and spend the money it costs to copy and create new keys. This also doesn’t account for the cost of time and manpower it takes to make new keys.Geokey presents an access control solution that gives residents and managers an easier way to provide access to units. Using the phone as the key, users can access their unit, building, and amenities with a tap on the Geokey app.
2. Geokey Brings Residents Security: Another glaring issue with traditional access control is that residents can easily copy keys and even fobs themselves without the property knowing. This is an issue for both residents and managers, as residents won’t be able to feel fully secure in their home unit, and managers cannot keep account of all of their keys or even 100% know who does and doesn’t have access. Residents not feeling safe in their homes is not just a major deciding factor for whether they will stay with your property but could also be a deciding factor for those looking to rent with you.Geokey’s access control solution provides that security. Using a combination of geolocation and the unique key tied directly to the resident’s phone, users can know they have access to their unit alone. Property managers can also be assured that only their residents can access their property and amenities. Managers will also be able to see when doors around their property are accessed and by whom, allowing them to have a detailed audit if an issue arises.
3. Smooth Move-In Experience: Sometimes, the first impression is the best, and the resident’s move-in experience can set the tone for the remainder of their stay. Geokey allows managers to share this smooth move-in experience by instantaneously granting access to residents on their move-in day. No need for a drawn-out check-in at the front desk: Geokey gives the resident access as soon as it’s their move-in date!
4. Automation and Interconnectivity: With Smart Technology becoming more available, it’s becoming a plausible amenity that residents are looking for in an apartment. Interconnected systems, being able to manage everything property-related from a single app (We talk about residents and managers experiencing “app fatigue” in the OpTech recap) is quickly becoming essential to the resident experience.
   Geokeys solution was built to work with other integrated software and hardware beyond access control. We have integrated with many incredible partners and companies that help properties automate, decreasing the costs and manpower needed to do what would have been manual paperwork before.

Geokey provides residents and managers with more than just an amenity: it gives managers the tools they need to give their residents an amazing experience. As the industry continues to change and residents start debating where they want to live for the next year, providing that experience will be what could keep them with you or drive them away. Automating your property and giving renovations that increase your NOI and save money is what multifamily managers need to strive for if they want to stay ahead of market demand.

October 2023, Omaha, NE – In an era where convenience, energy efficiency, and smart living are paramount, Geokey is proud to announce its latest integration with Resideo Smart Home thermostats and water leak detectors. This exciting partnership opens up a world of possibilities for residents, empowering them to take charge of their home climate control and comfort like never before. With the Geokey app now seamlessly connected to Resideo thermostats, residents can remotely control their home climate from anywhere, set a unique temperature schedule, and receive alerts for water leak detection.

Resideo is a home automation company that has been pioneering technology and smart solutions for the home for the past 130 years. As the number one global distributor of home security products with over 9.3 million connected users, Resideo strives to provide its clients with home automation technology that makes a difference and increases their quality of life. The integration with the Geokey app furthers this cause by giving residents quick and seamless access to the Resideo smart thermostat and water leak detectors right from their phones.

One of the most noteworthy aspects of this integration is the ability for residents to control their smart thermostats remotely via the Geokey app. Specifically, residents who purchase the T6, and T10 Pro Smart Thermostats can seamlessly adjust their home’s temperature, whether at work, on vacation, or just relaxing on the couch. The integration was built to be as user-friendly as possible, bringing a new level of convenience to residents who already use Geokey and eliminating the need to rely on more than one app.

Along with their smart thermostats, Geokey has also integrated with Resideo’s wifi-based water leak detection system. The reliable L1 Water Leak Detector attaches directly to the resident’s water heater or pipe system, allowing it to detect everything from water leaks, freezes, and humidity. Even when you’re away, this compact smart device, when tripped, will send a notification through the Geokey app and portal. When receiving the notification, residents will be able to close the pipe off with the L5 Leak Shut Off Valve in order to prevent water damage and allow for the leak to be repaired.

In line with Resideo and Geokey’s aims of helping managers and residents have a sustainable system that is also economically friendly, our integration also allows for higher energy efficiency and insights. Our integration enables users to create personalized heating and cooling schedules and optimize their HVAC system’s operation to match their schedules. With these tools at their disposal, residents can look forward to having a heated or cooled home that works perfectly with their schedule, decreasing energy waste and allowing them to save money while still living in comfort.

Geokey CEO Brandon Peterson shared his excitement over the integration with Resideo and how it will “bring smart thermostats and water leak detection into our hardware-agnostic IoT platform for apartment complexes. This move represents the future of smart technology in multifamily housing, offering dual benefits: it directly enhances property owners’ bottom lines and elevates the overall resident experience. At Geokey, we’re committed to redefining access and smart living for the better.”

The integration between Geokey and Resideo Smart Home thermostats and water leak detection represents a significant leap forward in modern living. Residents now have the power to control their home’s climate from anywhere, save on energy costs, and enjoy a level of comfort and convenience that was once only a dream. Geokey’s commitment to innovation and user-centric design ensures that this partnership will continue to improve the lives of residents in the years to come.

About Resideo:

Resideo is a home automation company that creates technology and smart solutions to help make homes more sustainable and safer. Creating everything from smart thermostats to home security to air filtration systems, Resideo is dedicated to improving quality of life, both for residents and the Earth. For more information, visit Resideo.com

About Geokey:

Geokey is a pioneering software company specializing in cloud-based access control solutions. Their advanced platform revolutionizes access control management, providing users with enhanced flexibility, scalability, and convenience. Learn more about how Geokey is revolutionizing the access control industry at Geokey.com.

Universities have been around for many centuries, being centers of learning and
discovery for people of all ages. The earliest university, Harvard, was built in the United States
in 1636. On-campus residential living also has quite a history, giving a place for students to live
on campus during their time. As universities and learning centers have continued to be built
and scaled over the centuries, they have needed to accumulate more places for students to
stay in. Older buildings started to be intermixed with newer buildings, with the older dorms
lagging behind the more modern facilities.

The influx of students and campus scaling has resulted in the older buildings being
utilized alongside the new, with a clear difference in the amenities offered by the more recent
Class A dorms, full of modern amenities and quality of life improvements, and the older Class C
buildings, historical and requiring constant renovations.

It can seem like a daunting task to modernize older buildings, especially if they have
gone a long time without these renovations. This is a prevalent problem on university campuses
that have existed for a long time, as they rely on a mix of older and newer dormitories. So how
can universities help retrofit their older dorms to equally give students the same quality of life
amenities as a more unique dorm? Geokey offers universities a modern access control solution
that keeps buildings secure, gives students a convenient and easy-to-use amenity, and was built
to be installable in everything from new Class A to old Class C properties and everything in
between.

Modern Access Control
Geokey eliminates the need for property owners to spend money making keys and
rekeying locks by making the student’s phone the only key they need! When a student is
assigned to a dorm, administrators can use the Geokey portal to assign a student a Geokey,
holding credentials made specifically for their phone. When in range of a door they are allowed
access to, all the student has to do is tap, and the door unlocks.

Administrators have full control over who has access to what door, giving the end users
access to everything they are allowed to, from the unit to specific subunit access points, such as
their bedrooms. Students and administrators alike can rest easy knowing that only students can
access their specific dorm units and bedrooms.

With the key on the student’s phone, there is no need to worry about keys or fobs being
stolen, lost, or illegally copied. The portal keeps track of when a door is accessed and by whom,
allowing administrators to enforce curfews and audit when certain people access a door. It’s a
modern access control system built to be flexible and work with various hardware for
everything from outside gates to deadbolts.

An Affordable Amenity
Geokey offers security that doubles as a Class A amenity. Entering a locked door has
never been easier and removes the hassle of fumbling with a ring of keys. With their unique
credential, students can have exclusive access to their dorm space and other areas around
campus, such as computer labs, student areas, and much more.

While being able to access campus with your phone is great, Geokey is integrating with
various partners that expand on the experience and can give students an actual all-in-one
experience. One example is our integration with Resideo’s smart thermostat, which allows
residents to use the Geokey app to adjust their room temperature remotely, allowing students
and faculty to save money and energy.

Made for Retrofitting
While we have a variety of solutions for every need, our hardware was built to be
compatible with the needs of older buildings. If there isn’t a hub or community wifi available,
no problem: we have hardware available that doesn’t require it. Thanks to being battery-
powered with a long lifespan, students don’t need to fear being locked out of their room thanks
to power outages.

Geokey’s system is designed to be flexible and easily integrate with various architectural
layouts. Geokey does not demand extensive rewiring or infrastructure modifications, unlike
traditional access control systems. This makes it an ideal choice for historical Class C buildings
that may lack the electrical and network infrastructure common in newer constructions.
One of our best examples of Geokey in action in Class C buildings is our work with the
1910 Historic Lofts. A multifamily apartment building built over a century ago, residents still live
in modern luxury thanks to installations such as Geokey. As the student housing landscape
evolves, Geokey paves the way for a future where the blend of historical significance and
modern convenience is not just a possibility but a reality. By offering an accessible and versatile
solution for retrofitting, Geokey contributes to creating an inclusive and secure living
environment for all students, regardless of the age of their dormitory.

What comes to mind when you think about managing a multifamily apartment complex? It could be keeping track of hundreds of residents, maintaining rooms, the amenities they interact with, or other housekeeping issues such as utilities or Wi-Fi. At Geokey, we focus a lot on the benefits we bring to the multifamily market, especially when it comes to convenience for residents and managers and making keys and fobs obsolete. While that is important, our platform has so much more to offer than just access control: we offer a transformation in the multifamily sphere by creating Autonomous Communities.

What Exactly is an Autonomous Community?

Geokey CEO Brandon Peterson recently wrote about this concept, saying that an “Autonomous Community means no property manager needs to be on site. It is a self-run property with technological enhancements that can still communicate with the residents and still grant a good experience. It can be managed by a regional property manager rather than one per community.”

In a recent poll conducted by Multifamily Insider, over 65% of respondents answered that one of the biggest hurdles facing multifamily properties is staffing, with the second highest being budgeting at 16%. Having an Autonomous Community allows managers to run their properties remotely without having dedicated managerial staff, Wi-Fi, or equipment on-site. Geokey’s platform can bring all this and enable regional managers to operate numerous sites without stepping foot on any of them.

Remote Management

What do we mean when we say that Geokey offers true remote management? Geokey gives property managers control of the following:

• Key Distribution: Managers can seamlessly send geokeys, which is the digital credential that grants permission to access approved doors, to residents’ phones when their move-in day arrives and take it away when their lease expires. Geokeys can be given and taken away manually or through automation, thanks to the Geokey platform. No more rekeying locks, copying keys, or manually updating credentials on readers: everything is automatically taken care of.
• No On-Site Equipment: As Geokey runs through Microsoft Azure and the Cloud, you won’t need a server room or complex-wide Wi-Fi to manage your access points. Credentials are safely stored in Azure, and all residents need to do is tap on the Geokey app to open whichever doors you grant them access to.
• Multi-Site Management: The Geokey platform allows managers to control access to multiple sites simultaneously. Users, doors, and integrated hardware can all be managed and thoroughly organized across any number of sites and locations!

The Future of Smart Integrations

As Geokey continues to grow as a company, our solution expands far beyond access control. We are able to provide residents and managers with a more well-rounded experience by integrating with smart technology along with reliable hardware and software partners. This takes the form of:

• Remote Leasing
• Mobile Based Intercoms
• Water Leak Detection
• Smart Thermostats
• Maintenance Requests

All of these listed and more are possible through utilizing smart technology to help create a fully autonomous community. If you want to learn about how Geokey is utilizing smart technology to bring this concept into reality, check out Brandon Peterson’s article on The 5 Essential Components to an Autonomous Community. The future is bright when it comes to how communities can leverage smart technology, and Geokey is working to bring that future into the present day!

If you would like to help be a part of that journey or learn more about how Geokey can revolutionize your business, visit our website or schedule a quick 20-30 minute awareness call with one of our amazing team members. We would love to show you what Geokey can do!

Geokey recently attended BluePrint 2023, the premier real estate event held in Las Vegas this past month. Blueprint served as a platform for industry executives, real estate and construction tech startups, and venture capitalists to convene for three days of networking and workshops. During our time there, Geokey had the privilege of operating a kiosk within 29th Street Capital’s section, an experience we found exceptionally valuable. We’d like to share some key takeaways from what we found to be a very beneficial and insightful event.

One of the main highlights of the event for us was the opportunity to engage with others within the real estate industry. We engaged and formed relationships with some amazing real estate developers, multifamily managers, and fellow property tech companies. These interactions gave us the opportunity to establish many potential partnerships with these companies and individuals, connected in a unified goal as we strive to drive innovation and growth within the industry.

Most importantly, the conference reinforced Geokey’s unwavering commitment to leading advancements in the access control and property tech fields. As we talked with others in our field and discussed how we can help better the property tech and real estate industries, we only reaffirmed our mission to bring affordable and seamless mobile access control to the multifamily. We forged numerous strategic alliances during the event, and with these connections, we eagerly anticipate discovering new ways to collaborate and bring innovation and smart technology to the forefront of the industry. The conference underscored Geokey’s dedication to pioneering industry advancements and highlighted how our solution can spearhead further innovation.

Overall, the event gave us the opportunity to connect with existing partners and form relationships with new potential allies. Our expanded network of strategic allies, both old and new, helps to position Geokey as a key player in the field, ready to continue to bring innovation and revolutionize the way we understand and utilize access control. Geokey CEO Brandon Peterson summarized the event in his own words: “Blueprint was an Impactful event that brought together Proptech vendors and venture capitalists. With only 100 vendors chosen to attend, it was, in my opinion, the best of the best on the come-up of technology for real estate. We forged some new and exciting partnerships at this event and are excited to be announcing them in the near future!”

September 12, 2023, Omaha, NE – Geokey has announced its interface with Yardi® to help property managers and investors unlock the full potential of their operations. As a new Yardi Standard Interface Vendor, Geokey interfaces its cutting-edge software solution with Yardi’s comprehensive property management tools for a solution that can streamline operations and increase operational efficiency.

Yardi is a company dedicated to providing clients with superior products and outstanding customer service. They exemplify this mission with their multifamily platform, Yardi Voyager®, a single connected solution that allows companies with more extensive portfolios to manage operations, execute leasing, run analytics, and provide innovative resident, owner, and investor services. By interfacing with Yardi, Geokey’s revolutionary mobile access control platform looks to provide a solution that empowers property managers.

With this interface, when Yardi clients add a new resident to their database, the resident will automatically get sent a Geokey, which will be set for their move-in date and end on their move-out date. This Geokey will give the resident access to the proper access points: shared spaces, exterior doors, rec rooms, pools, gates, elevators, and unit doors. Once the Geokey is sent to the resident, there will be no need to manually update reader firmware or assign credentials: Geokey’s cloud-based solution gives Yardi clients the ability to have this functionality and provide truly remote management tools to property managers.

The interface allows Geokey to synchronize with Yardi Voyager, ensuring consistent, accurate data is available across both platforms and improving reporting and analytics. Communication will also be synchronized, allowing real-time updates, notifications, and work orders to flow seamlessly between platforms and automating routine tasks to help save time and improve productivity.

The powerful interface boasts many benefits for those utilizing the platforms, including increased efficiency, improved accuracy, and cost efficiency. Property managers can cut down on completing manual data entry tasks and ensure accurate, up-to-date data across both platforms, automating that work so managers can enable their teams to do more critical tasks. Managers can streamline their operations by automating these tasks, saving time and money. It also encourages collaboration and communication across teams with real-time data sharing, enabling your staff to work together seamlessly regardless of which platform they use.

Brandon Peterson, CEO of Geokey, is very optimistic about the interface: “We are proud to offer Yardi users the ability to seamlessly integrate Geokey into their existing property management workflows, empowering them to deliver superior convenience and security to their residents. This collaboration signifies a major milestone for Geokey clients, as it brings a new level of functionality and convenience to the property management industry. With this interface, residents will automatically receive a Geokey upon sign-up, granting them access to key points within the property, such as common areas, exterior doors, and unit doors. This seamless integration eliminates the need for device firmware updates, as Geokey provides true remote management capabilities. This highlights our commitment to leveraging technology to revolutionize the property management landscape, and we look forward to its positive impact on the industry.”

By combining the strengths of Geokey and Yardi Voyager, the interface provides a solution that empowers property managers to optimize their workflows, streamline operations, and unlock new levels of efficiency. For more information on how this interface can help shake up the access control industry, contact us and schedule a demo today!

About Yardi:

Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

About Geokey:

Geokey is a pioneering software company specializing in cloud-based access control solutions. Their advanced platform revolutionizes access control management, providing users with enhanced flexibility, scalability, and convenience. For more information on how Geokey is revolutionizing the mobile access control industry, visit Geokey.com.

If there is any industry that is ready for an access control revolution, it’s student housing. With so many colleges and universities relying on retrofitting old buildings and building new dormitories to meet attendance influxes, the need for a well-rounded access control system is obvious. Due to being a classic method, combined with the necessity to utilize older buildings, the lock and key have long been used for managing student access to their private domiciles. More recent upgrades have even found ways of converting the student ID card into a way to access campus buildings. 

As we stated in our last article concerning the need for student housing to have an access control revolution, legacy access control doesn’t make the cut anymore. While presenting issues with security, which can have a direct effect on student’s physical and mental well-being, legacy access control also gives a significant headache for campus administrators when it comes to workflow and efficiency. 

This is where Geokey stands to help higher education: our access control solution has the potential to increase security to protect students and workflow efficiency for school administrators. On top of this, Geokey’s integrations are working to make the experience of moving to a smart, mobile-based access control solution as efficient and beneficial as possible. How can Geokey go about solving all of these problems? 

Better Security

Above anything else, the safety of the students should be the top priority. Parents helping their kids choose which higher education institution to live and learn at for most of the year want to ensure they are safe. Having a dorm room as a safe refuge to rest and work from is crucial to the student’s physical and mental well-being. A paper by the United States Department of Education directly linked students’ feeling unsafe as a hindrance to their ability to learn, which is why they are choosing to enter higher education in the first place. 

While they may have once been considered reliable, keys are simply not secure anymore. Keys can easily be lost, stolen, and copied, raising the concern that they are more of a liability than any true form of access control. There is also no way for administrators to keep track of them outside of an honor system, which, when managing thousands upon thousands of keys, can quickly become a problem. You can read more about the liability of keys and fobs in our last article about how mobile access control can revolutionize student housing. 

Geokeys platform also allows university administrators to keep track of when and who opens doors, allowing universities to monitor curfew times better and ensure some accountability for students. It also allows administrators to audit what buildings and doors are accessed, what on-campus amenities are popular, and more. 

Move In/Move Out Hassel

If there is one nightmare that most campuses share, it’s move-in day. Long lines of students wait to receive their packet of papers and the little yellow envelope that holds the collection of keys they will need to be able to navigate campus before finding the dorm room to make their home for the year. With Geokey, we can skip the long line waits and seamlessly automate the key distribution process. 

Geokey’s platform allows administrators to automate the key-giving and retrieval process remotely. With a simple click on the platform, a unique Geokey can be assigned to a student’s phone, ensuring only they have access to whatever doors they need, whether it’s their room, dorm building, or other exclusive buildings/rooms on campus, such as a computer lab. The process is secure thanks to the unique credentials of the assigned Geokey, the phone needing to be within the geofence to activate, and all of the security measures built into the phone. 

While making move-in day several times easier to manage, Geokey also helps automate the move-out process. With keys and fobs, there is a hefty to-do list for universities to keep track of on move-out day:

• Make sure those thousands of keys you distributed are returned.
• Rekey all the locks to ensure stolen and copied keys can’t be utilized the following year.
• Manually updating the firmware on readers so that credentials are up to date.

With Geokey, all of these processes can be accomplished remotely in seconds. Assigned Geokeys are retracted the moment a student checks out: no need to update locks or readers, plus no keys go unaccounted for!

Scalability

Geokey is not a stagnant solution; it was built to grow with your property! Geokey has integrated with many different hardware manufacturers that make products for any property’s needs, whether outdoor gate controls, door handles, deadbolts, or even lock boxes. With products to easily retrofit an existing property and hardwire into new developments, Geokey was built to be scalable. 

The Geokey platform was also built to add and manage new access points and user credentials outside the hardware. Because Geokey is cloud-based, campuses don’t need to worry about managing on-site server rooms: it can all be managed remotely!

Innovation

As companies like Geokey continue to innovate and push the envelope about what access control can accomplish, the pool of features and amenities also continues to grow. With a connection to the cloud and a platform built to manage multiple access points and credentials, the future of access control is bright. Possibilities like integrations with smart thermostats, for example, could allow administrators to set parameters on how energy is utilized in heating or cooling a dorm room and help save money in the long term.

Unlike keys and fobs, which remain as a stagnant means of controlling access points, mobile access control is an ever-expanding field that gives property owners and school administrators an access control solution that is also an amenity. Students will be able to utilize Geokey as a convenient alternative to a ring of keys that leaves them feeling safer in their dorms, while administrators gain a valuable tool to seamlessly automate a lot of processes and, in the long term, save money that can be utilized for scholarships or expansion. Geokey is more than an access control solution: it’s an investment in the future of your campus and your students.

August 2023, Omaha, NE – Geokey today announced an integration with Entrata to help multifamily managers and investors unlock the full potential of their properties. The integration allows Geokey’s cutting-edge software solution to integrate with Entrata’s property management tools, promising a software solution to streamline operations, reduce costs, and improve overall efficiency.

A recognized leader in property management software, Entrata’s platform allows property owners to provide efficient property operations while also elevating the resident experience, with a focus on providing property managers with an all-in-one platform to manage resident, payment, and facility data. With this integration, Geokey will be able to communicate within Entrata’s platform and bring property managers a more streamlined, efficient, and transparent property management process.

When a new tenant is entered into Entrata’s system, that tenant will automatically receive a Geokey on their mobile device. The tenant will have access to this Geokey starting on their move-in date and will lose access to it after their move-out date. This unique Geokey will give tenants access to all the access points permitted by the property manager: common spaces, exterior doors, rec rooms, pools, gates, elevators, and, of course, their unit doors. With a simple tap on the Geokey app, the door will grant access to the user. Geokey grants the property manager true remote access. No more updating each individual access point when credentials change: everything can be managed from the portal.

The integration will bring many additional benefits to the clients of both companies. Property managers and investors can use the information from Geokey’s in-depth analytics and Entrata’s property management data to make more data-driven decisions, such as better resource allocation and performance assessments. While giving managers better data to work with, the end user will benefit as managers will have more time and resources to focus on their needs.

Geokey’s access control solution was built to grow alongside the property, offering quick installation for any new access point, whether indoor or outdoor. Once installed, clients will be able to receive data and manage that access from Geokey’s platform. The affordable pricing model and streamlined workflows allow managers to focus their time, team energy, and money on other projects while being able to use the equipment as soon as possible.

Brandon Peterson, CEO of Geokey, was beyond excited about the launch of Geokey’s new integration, as well as the many benefits the two will be able to bring to their clients. “Today marks a truly exciting milestone for Geokey and our valued customers! We can officially announce an integration with Entrata, one of the fastest-growing property management systems in the market. This functionality is a game-changer, as it brings the first-of-its-kind remote sign-ups and move-outs for residents. The enthusiasm from our existing clients and the anticipation from future ones about this integration is truly heartwarming. We’re paving the way to streamline communities into a brighter, more efficient future!”

With Geokey’s unique geofence technology granting tenants access to permitted areas and Entrata’s all-in-one platform empowering property managers with valuable data-driven insights, clients of both companies can make more informed decisions and allocate resources more effectively.

Learn more about the Geokey x Entrata integration!

About Geokey:

Geokey is a pioneering software company specializing in cloud-based access control solutions. Their advanced platform revolutionizes access control management, providing users with enhanced flexibility, scalability, and convenience. Learn more about Geokey

Geokey, a cutting-edge mobile access control platform that has revolutionized the way multi-family apartment communities manage and secure their access points, offers its clients many benefits, ranging from a complex access control system to streamlined management and automation. Geokey was created to cater to the needs of both the end users and property managers, providing an access control solution that seamlessly merges security with convenience. However, our work extends beyond this.

Going beyond comprehensive access control solutions, Geokey focuses on increasing the value of any property it becomes a part of. When Geokey integrates into a property’s infrastructure, property managers can look to not only get a return on their investment but increase their net operating income. This begs the question: How does Geokey achieve this?

Beyond ROI

When people consider what access control method to invest in, pricing tends to be a significant factor. Access control tends to be one of the last elements installed in a building, and budget-wise, legacy systems, while less complex than more modern systems, are noticeably cheaper. When a property invests, they want to see a return on their investment (ROI). Why invest in an expensive modern access control system when an older system works fine and is cheaper…

Or is it? 

While traditional lock and key systems might initially appear cost-effective, initial costs don’t account for the long-term expenses a property could incur. Statistics indicate that multifamily properties invest significant man-hours into rekeying locks and duplicating keys, not to mention the financial outlay. Fob and reader systems aren’t much better, with fobs being built to be disposable and replaced.

That doesn’t even mention that legacy access control systems have lost some of their former security prowess. Keys and fobs can easily be duplicated or lost. On top of the costs to replace and rekey locks, there is little to no accountability with who can use them and access the property. These stolen or copied keys can lead to theft and other liabilities, making the financial burden worse for the property.

Geokey’s access control solution remedies the continual expense drain caused by traditional access methods. Instead of constantly replacing physical keys, why not empower end-users to utilize their smartphones? Property managers are already cutting costs by transforming smartphones into both key and reader. Geokey’s centralized reporting and management systems further enhance efficiency by eliminating the need for labor-intensive tasks like key copying, lock rekeying, reader firmware updates, and the challenges of move-in/move-out procedures. With Geokey, giving/taking away a Geokey is as simple as a single click. The combination of unique Geokeys for each phone and geofencing technology ensures that the unauthorized sharing of keys is mitigated.

Even as an access control solution on its own merit, Geokey can offer you much more than legacy systems: it can plug the holes properties sink money into and allows them to put their money into other projects to improve resident experiences. How does Geokey go beyond giving you ROI to increasing your NOI? 

Property Value and NOI

Geokey does more than give you an amazing access control solution that helps manage your property and streamlines your processes: it increases your property value!

By installing Geokey on your property, you promise two things to current and future residents: better security that also grants convenience. Instead of fumbling with a ring of keys or fobs, the door unlocks with one tap on the Geokey app! It’s simple, secure, and aims to give your residents a heightened quality of life. Combined with the declining risk of break-ins or key/fob copying, your property is likely to increase in value. 

As property value rises, so will your NOI, as people will want to take advantage of smart tech as an amenity. According to NMHC/Grace Hill, residents are willing to pay between $20-50 extra each month for smart technology/access control in their units. That’s extra money that you can utilize elsewhere on your property.

Geokey has a lot to offer its clients: A convenient and secure access control solution, a centralized management platform, and the ability to seamlessly automate processes that previously required manual attention, are only a few. Geokey strives to go beyond what other access control providers give and offers a solution for property managers to increase their value and revenue rather than be a hole to sink money into. We want to be more than a one-time purchase: we want to be an investment that gives property managers the tools they need to secure and grow their business.

Contact us today to learn more about how through utilization of Geokey’s patented technology and hardware agnostic platform, you can benefit from a future-proofed access control solution that prevents technologic obsolescence while minimizing their initial capital investment. Geokey can increase your revenue opportunities while decreasing operational spend which means you increase both your NOI and ROI.