Smart Locks: Convenient or a Security Risk? (2024 Guide)

TL;DR: Smart locks save landlords roughly $50-$150 per rekeying event and let you grant or revoke access remotely, but they introduce Wi-Fi and Bluetooth vulnerabilities that a mechanical deadbolt never had. Choose a lock with a physical key override, local (not cloud-only) access codes, and a battery life of at least 6-12 months, and you get most of the convenience with a manageable risk profile.

_Last reviewed: July 2026 · 7 min read_

You've probably heard two stories about smart locks: one where a landlord unlocks a door from their phone during a snowstorm, and one where a hacker bypassed a $200 smart lock in under a minute using a video posted online. Both stories are true. The real question isn't whether smart locks are safe, it's whether the specific model and setup you choose closes the gaps that make those hacking videos possible.

Okoniq Property Hub logs when locks were installed, tracks battery replacement dates, and keeps a record of who has access codes across every unit you manage.

How do smart locks actually get compromised?

Most smart lock breaches happen through weak Bluetooth pairing, not brute-force hacking. Security researchers have shown that budget locks under $100 often use outdated encryption protocols that let an attacker capture and replay the signal from a phone up to 30 feet away.

The bigger risk for landlords is code management, not the hardware itself. A 2023 survey of property managers found that 41% never changed the default access code after installing a smart lock, leaving a factory setting that's often printed in the manual or searchable online. If you're comparing this to older mechanical systems, the same complacency shows up with knob-and-tube wiring that homeowners forget still exists behind the walls. Outdated infrastructure, whether it's wiring or a lock's firmware, only becomes a problem when nobody checks on it.

Does a smart lock actually save money over rekeying?

Yes, usually within the first two tenant turnovers. Rekeying a standard deadbolt costs $50-$150 per unit when you factor in a locksmith visit or new hardware, and that cost repeats every time a tenant moves out. A smart lock lets you delete a departing tenant's code in under a minute at no additional cost, and you can issue a new one to the incoming tenant before they even arrive with the moving truck.

The upfront cost runs $150-$300 per lock for a mid-range model with a keypad and app control. For an owner-operator with four or five units, that's a break-even point around the third or fourth tenant turnover, which for most single-family rentals happens within 3-5 years.

Are keypad locks or app-based locks the better choice for rentals?

Keypad-only locks are generally the safer choice for landlords because they don't depend on a tenant's phone, Wi-Fi, or an app account you don't control. App-based locks offer more remote features, but every login is another potential point of failure if the tenant reuses a weak password.

| | Keypad-Only Lock | App-Based Smart Lock | |---|---|---| | Setup complexity | Low, no Wi-Fi needed | Higher, requires network setup | | Remote code changes | No, must be at the unit | Yes, from anywhere | | Failure point | Battery, keypad wear | Wi-Fi outage, app bugs, account hacks | | Best for | Straightforward turnover control | Owners who self-manage remotely |

If you go with an app-based option, make sure the lock still functions with a physical backup key and doesn't lock a tenant out entirely during a Wi-Fi outage.

What should you check before installing a smart lock?

Confirm your door's electrical and structural setup can support it before you buy anything. Most smart locks run on 4 AA batteries and don't need household wiring, but if you're adding a video doorbell or smart hub alongside the lock, check whether your panel has enough amperage to handle the added draw, and whether nearby outlets are properly grounded with a 3-prong upgrade rather than an old 2-prong setup.

Battery life matters more than most buyers expect. A lock rated for 6-12 months of use can quietly drain in 3-4 months if it's mounted on an exterior door facing direct sun or freezing wind, since extreme temperatures reduce battery output. Set a reminder to check battery levels every 90 days rather than waiting for the low-battery chirp, which some tenants ignore or don't recognize.

Do smart locks add to your electric bill?

Barely, but it's worth knowing the number. A battery-powered smart lock draws no household electricity at all, but a hardwired video doorbell or Wi-Fi hub paired with it can add $2-$5 a year to your electric bill, similar to the small draw described in appliances quietly running up your bill. It's a minor cost, but it's one more device pulling standby power around the clock.

FAQ

Can smart locks be hacked remotely over the internet?

Cloud-connected locks can theoretically be accessed if a hacker compromises your Wi-Fi network or the manufacturer's servers, but this is far less common than local Bluetooth exploits. Using a strong, unique Wi-Fi password and keeping the lock's firmware updated closes most of this gap.

How long do smart lock batteries actually last?

Most keypad smart locks last 6-12 months on 4 AA batteries under normal use, though extreme heat or cold can cut that to 3-4 months. Locks with a low-battery alert give you roughly 2-3 weeks of warning before full failure.

Should landlords use smart locks on every rental unit?

It depends on how often you turn over tenants and whether you self-manage remotely. If you handle 3 or more units without living nearby, the remote code control usually pays for itself within a year or two through avoided rekeying costs and trip savings.

What happens if the power or Wi-Fi goes out?

Battery-powered keypad locks keep working during a power outage since they don't rely on household electricity, but app-based remote features stop working if Wi-Fi is down. A physical key override is the backup you need for this scenario, so never install a smart lock without one.

Are smart locks worth it for a single owner-occupied home?

For a primary residence, the main benefit is convenience rather than turnover savings, so it comes down to whether you value keyless entry and guest code sharing enough to justify the $150-$300 cost. Many homeowners find it worthwhile just for lockout-proofing during travel.

This is educational information, not security advice. Call a licensed locksmith or security professional to evaluate the best lock for your specific doors and risk profile.