Rekeying and security upgrades for landlords

Landlords, property managers, real estate agents, new homeowners and small offices.

A fixed price per lock or per unit, with volume pricing for multi-unit buildings and extra for new hardware. Repeat work comes from tenant turnover.

• Precise hands-on work
• Organizing bookings and stock
• Clear quoting
• Building relationships with property managers

• Provincial licensing or background checks may apply, check with your provincial regulator
• A home-based business licence or zoning check from your municipality, especially if you store stock at home
• Commercial general liability insurance, and check what it covers for work on locks and security systems
• Keep careful records of who you give keys to and whose property you work on
• Property managers may be slow to pay, so agree terms in writing

Estimates suggest startup costs are typically around $1,000 to $5,000, depending on your tools, how much parts stock you carry and your insurance. Your own figure will vary with the equipment you already have.

Things to check include provincial licensing or background checks with your provincial regulator, a home-based business licence or zoning check with your municipality, and commercial general liability insurance that covers lock and security work.

Estimates suggest monthly revenue is typically around $600 to $3,000, depending on how many bookings you win from landlords and property managers. The estimates assume at least about 8 hours a week.