Q&A: Debunking 3 Multifamily Security System Myths That Are Costing You Money

It’s the Silo Deception—the belief that systems don’t need to work together.

The thinking is: “If the lock works, and the camera works, why bother with complex integration?” But this attitude is bleeding you dry. The cost of siloed systems is the real Total Cost of Ownership (TCO). This “cost” shows up in:

• Operational Costs: Your staff is wasting time bouncing between screens—the “swivel chair” workflow—to manage, monitor, and pull data from separate platforms.
• Security Debt: That growing backlog of ignored security updates and fixes on disconnected systems? That’s your risk exposure ticking up, leading to new vulnerabilities and potentially higher insurance premiums.
• Wasted Investment: You’re missing out on the most valuable features. A camera’s true intelligence is only unlocked when it’s linked to your access control platform, turning reactive footage into proactive intelligence.

The fix is modern, centralized security—a “smartphone” for your building—that uses APIs to let best-in-class security apps talk to each other. It’s the only way to lower TCO and reduce long-term risk.

It’s not just wrong, it’s financially irresponsible. Viewing EAC as only an amenity means you’re massively underestimating its impact as a core business driver.

Over 75% of properties still rely on metal keys, meaning over half of our readers are still paying $85 or more per unit to rekey. Modern Electronic Access Control (EAC) eliminates this cost and time—a rekey becomes five clicks on a computer. Beyond savings, EAC eliminates the data blind spots inherent in physical keys. We dig into all these operational advantages and more in our new ebook.

Absolutely. And if you ignore this, you are looking at a quantifiable price tag.

The data is clear: the tech experience is now a major competitive differentiator. Residents are willing to pay $35 to $55 more per month for a smart apartment experience. A property that focuses on convenience and reliability sees tangible ROI.

A clunky, frustrating tech experience is a key driver of:

• Renewal Risk: Resident frustration leads to non-renewal, costing you thousands in lost rent, marketing, and make-ready expenses.
• Reputation Risk: Negative reviews will damage your ability to attract new renters.
• Rent Rate Risk: You cannot justify premium “smart building” rents if the keyless entry is constantly failing or requires five different apps.

The strategic fix is to engineer the experience to be flawlessly reliable. We’re talking about a truly keyless journey—from the parking garage to the unit—powered by a single, simple mobile app. And that app must be bulletproof, with mobile credentials that work offline even with poor cell service.

The most impactful technology doesn’t just add smart devices; it creates a centralized, reliable, and convenient experience that boosts your satisfaction, retention, and ultimately, your NOI.