Under lock and key: Lockboxes make inroads in NYC rental market


Michael Bass of Controlled Access Systems

From the December issue: Michael Bass became an independent New York City real estate broker in 2008, after a 22-year career in residential leasing with the LeFrak Organization. But it didn’t take long for the routine of showing rental apartments to wear on him. The inefficiencies, he said, were maddening, especially tracking down apartment keys from building staffers.

Sign Up for the undefined Newsletter

“‘Keys? What keys?” Bass recalled hearing. He added: “The worst thing is for a broker to try to show an apartment with a client, and you can’t get access to the building.”

Those experiences, along with conversations with brokers outside New York, led him to a new line of work: lockboxes. In September, Bass launched Controlled Access Systems, which aims to provide lockbox technology to New York City real estate firms. [more]

Recommended For You