Why a key replacement costs your housing association DKK 5,000, and what you can do about it

Most board chairmen know the situation. A resident loses their key, a new tenant moves in, or a craftsman needs access. Each time, new keys are required, and the bill lands in the association's budget.

What does it actually cost?

A typical key replacement in an apartment building with security locks costs between DKK 2,000 and DKK 5,000 per replacement. This includes new cylinders, keys for all affected residents, and the locksmith's labor time. In an association with 20 apartments and 2-3 replacements per year, it quickly adds up to DKK 6,000-15,000 annually, just for keys.

And that's only the visible cost. On top of that comes the time the board spends coordinating with the locksmith, distributing keys to residents, and handling complaints from those waiting.

Vacancies are particularly expensive: the outgoing resident may not hand in all keys, and the association might change them for safety.

The calculation over 5 years

For a typical owner's association with 20 apartments, the calculation over 5 years looks approximately like this: 2-3 key replacements per year at an average of DKK 3,500 gives DKK 35,000-52,500. In addition, there's the board's time, which is hard to put a price on but which everyone is familiar with.

The alternative: digital access control

With a digital access system, you eliminate the key challenge entirely. When a resident moves out, access is deactivated with a single click. New residents gain access via an app – no physical key, no coordination with a locksmith, no waiting time.

Craftsmen and suppliers can get temporary access that automatically expires. The board can see a log of who has access and when, which is also relevant concerning GDPR and security.

Modern solutions like WelcomeBob combine an intercom and digital access control in one system. Residents control everything from an app, and the association avoids ongoing expenses for key administration. The system can be obtained as a service agreement with no startup cost, so it's an operating expense that replaces another operating expense, just cheaper and smarter.

What can you do now?

If you are on the board, you can start by calculating what your association actually spends on keys and locksmiths per year. You will probably find these figures in the accounts under maintenance or administration. Compare this with the cost of a digital system, and bring it up at the next board meeting.

It's not about technology for technology's sake. It's about stopping spending the association's money on something that can be solved more smartly.