Immediate action once you get the keys
The very first thing I do after settlement is to get all the locks changed and everything keyed alike.

This includes screen doors, all the house doors, and any padlocks on the sub-floor door and garden sheds.

About the only thing I haven't been able to get keyed alike is the garage door, but I get the lock reset and a new key cut.

This way, there are minimal keys to keep track of, and after every three tenants or so, I have the house rekeyed again.

Doesn't cost much, gives me the peace of mind that I do know who has what keys, and if one key gets lost it is only one key to replace, not a whole bunch.

Have the locksmith cut one for you, one for the agency, two for the tenants, have them engraved with a code, and that way you know if any key has been replaced.

Our property managers have a 'lost key' code on the key rings which they hand out to a new tenant. If the keys are lost, and someone finds them, they can return the keys to the agency which knows which property they belong to without having to have the address on the key tag.

You may find that your insurance policy has a subsidy regarding keys. Insurance often has lots of little perks which are rarely used.

Good luck with your new venture. Landlording is lots of fun, and by the sound of it your new tenants are showing a bit of initiative, wanting to move 'across the tracks', and you may have many trouble free years with them.

Cheers

Kristine

By the way, at one recent change of tenants the locks had dried out so much that all the doors were being slammed and forced open. The locksmith cleaned and reoiled all the mechanisms while changing the lock settings, and now all the doors are smooth again.

A stitch in time and trouble free doors.