Master Key from previous owner

[Chandra Venkat]

We recently purchased a property and the previous owner had a master key for all their properties. They still have other properties, we purchased 8 units. Understand why they don't want to give us the master key, but the reverse is they have keys to our properties, what would you do? Just change the locks on all the units purchased? We have already closed on the property. Thoughts?

[Samantha Klein]

I would definitely change the locks. It is a liability issue as since you are now aware of it, if something turns up missing or someone breaks in, the victim can claim you knew other people had keys to their unit. I'd just spend the money to change the locks, and sleep well at night. Take that opportunity to meet your new tenants.