Skip to content
×
Pro Members Get Full Access
Succeed in real estate investing with proven toolkits that have helped thousands of aspiring and existing investors achieve financial freedom.
$0 TODAY
$32.50/month, billed annually after your 7-day trial.
Cancel anytime
Find the right properties and ace your analysis
Market Finder with key investor metrics for all US markets, plus a list of recommended markets.
Deal Finder with investor-focused filters and notifications for new properties
Unlimited access to 9+ rental analysis calculators and rent estimator tools
Off-market deal finding software from Invelo ($638 value)
Supercharge your network
Pro profile badge
Pro exclusive community forums and threads
Build your landlord command center
All-in-one property management software from RentRedi ($240 value)
Portfolio monitoring and accounting from Stessa
Lawyer-approved lease agreement packages for all 50-states ($4,950 value) *annual subscribers only
Shortcut the learning curve
Live Q&A sessions with experts
Webinar replay archive
50% off investing courses ($290 value)
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 2 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

400
Posts
304
Votes
Ash Patel
  • Full time investor
  • Cincinnati, OH
304
Votes |
400
Posts

Keys to tenant space?

Ash Patel
  • Full time investor
  • Cincinnati, OH
Posted Sep 17 2015, 10:23

I have what I am sure is a rookie question.  Do commercial landlords have keys and alarm codes to all of their tenant spaces?

In my case, I have keys/codes for the tenants that I signed, however, I do not have access for the tenants that I inherited.  There is no problem with me showing up during business hours and I'm sure if there was an issue, I can get a hold of the tenants after hours, but should I have keys/codes to their spaces?  

I have installed cameras for all of my tenants, so there should be no worry on their end about giving me a key.

Thank you all!!!!

User Stats

80
Posts
20
Votes
Dale Shin
  • Real Estate Agent
  • Los Angeles, CA
20
Votes |
80
Posts
Dale Shin
  • Real Estate Agent
  • Los Angeles, CA
Replied Sep 17 2015, 13:27

As a manager of net retail spaces, I was told by an attorney that I do not want to hold on to any keys for liability reasons.  If something should go missing in a tenant's space and there was no forcible entry, the tenant might look to me as a suspect.  

Some (newbie) tenants have also asked me to do favors for them, such as let in the phone guy or other things.  Since I don't have the keys, I cannot help them and just as well since I will not be able to do that for all the tenants I managed.

Being a net lease also, it's up to the tenant to take care of most everything in their unit, including getting themselves back in the unit if they lock themselves out.  They'll just have to call a locksmith to jimmy the lock.

User Stats

222
Posts
34
Votes
Neil G.
  • Investor
  • Socal
34
Votes |
222
Posts
Neil G.
  • Investor
  • Socal
Replied Sep 17 2015, 13:43

I feel Dale is right on the money with Commercials. 

With both Residential & Commercial, I write into the lease/rentalagreement that it is the tenant's responsibility to promptly file a copy of the key of any additional or replacement locks the install to allow for emergency access.

 In reality, tenants nowadays have their private stashes of stuff they will stock into one room/closet and change the lock and never file the key. With commercial, its usually all new locks/codes they install as their 'stock' is often everywhere. With residential its usually just one room/closet the change/add a lock to and never give a key for, and I don't find out till moveout inspection usually anyway in both scenarios, so its mostly their liability as they failed to comply with the responsibility of supplying keys let alone notifying of key change.

Indeed in a weird way its worked out better that way because I get alot less service requests related to lock issues where the tenants turned out to have changed some/all their locks, than the tenants who didnt touch a lock/code. The latter always expected that if they lose a key or code we'd get them back in, no big deal and it happened quite often. 

BiggerPockets logo
Network With Property Managers
|
BiggerPockets
Partnering with a property manager before you buy will boost your bottom line. Match and mingle with top property managers now!

User Stats

400
Posts
304
Votes
Ash Patel
  • Full time investor
  • Cincinnati, OH
304
Votes |
400
Posts
Ash Patel
  • Full time investor
  • Cincinnati, OH
Replied Sep 17 2015, 14:13

Thank you @Neil G. and @Dale Shin.  I wondered this for years so its refreshing to hear I am not doing something out of line.  

User Stats

156
Posts
101
Votes
Julia Blythe
  • Real Estate Investor
  • Memphis, TN
101
Votes |
156
Posts
Julia Blythe
  • Real Estate Investor
  • Memphis, TN
Replied Sep 17 2015, 14:29

We have a commercial building with businesses and doctors' offices. We supply the locks on the main doors and we have access through a building pass key. The tenant can install (at their expense), a keyless entry system, but we must have an access code that works 24/7. If one tenant smells smoke in another office and no one is in that office, you bet we will go in to see if we can avoid a catastrophe for us and/or the tenants. I think it's nuts not to have access to a multi-tenant commercial building. Keep in mind, we are not NNN. Ash, when we bought our building, I didn't have keys either, but they all graciously gave us copies without question.

User Stats

432
Posts
481
Votes
Jim Shepard
  • Investor
  • Edwardsville, IL
481
Votes |
432
Posts
Jim Shepard
  • Investor
  • Edwardsville, IL
Replied Sep 17 2015, 15:11

I always retain keys to our commercial buildings. A couple of years ago we thought we had a major gas leak in our strip center and called the fire department. Fortunately I had keys to the units or they would have broke the glass to gain entry.
I had a Chineese restaurant that moved out of a unit and never returned their key. Once again I was glad that I had a key or I would of had to pay a locksmith to get into the unit.