Best Budget-Friendly Smart Locks for Renters With Limited Budget

Finding the best budget-friendly security solution is becoming essential for peace of mind and convenience for daily use. However, most property owners won’t allow permanent changes. Moreover, renters are going through a lot of financial issues. Rent typically grows faster. This makes renters end up spending a big part of their income on just housing. More than 30% of one’s income goes to rent and utilities, leaving little to cover other essentials. The unpredictable inflation and cost spike of utilities make renters either live in older or less efficient buildings. 

Moreover, deposits, move-in fees, and maintenance costs may be passed on as unexpected expenses. The unplanned repairs or damage charges at move-out. Even small expenses make it hard for renters to save. All these things make it difficult for them to make high-cost security improvements. They even avoid minor improvements like replacing locks or modifying door hardware. The limit in affordable options, lease constraints, and landlord restrictions make it hard for renters to upgrade their security while staying in budget.

The challenge of finding budget-friendly smart locks for renters lies in finding the right balance. That’s why no-drill and easy-to-reinstall smart locks stand out. They provide modern security and keyless convenience without risking your security deposit.

Check out the Safest Keyless Door Lock Here

Explore Renters’ Friendly Fingerprint Door Locks Here

Best Budget-Friendly Smart Locks for Renters

Wyze Lock Bolt

(Affordable keypad and fingerprint option)

The Wyze Lock Bolt comes with a dual unlocking method. It provides ease of use and security in a modern design. Wyze Lock offers a keypad and a fingerprint sensor. This eliminates your hassle of carrying keys. Designed for quick and reliable access. That’s why, it is suitable for both renters and homeowners.

Key Features

1. Stores up to 50 fingerprints for instant, key-free access.
2. Backlit Keypad makes it an easy-to-use illuminated keypad with anti-peep technology to prevent code guessing.
3. Bluetooth connectivity and manage the lock via the Wyze app when in range.
4. Auto-Lock function automatically secures your door after a set time for peace of mind.
5. Activity log tracks who accessed the lock and when, through the Wyze app.
6. Affordable price point provides smart lock functionality at a much lower cost compared to competitors.
7. Battery powered and runs on 4 AA batteries (no hardwiring required).
   

Pros

• Very affordable compared to other fingerprint-enabled smart locks.
• Quick and reliable fingerprint reader.
• Easy installation with standard tools, fits most deadbolts.
• Clean, modern design that looks good on most doors.
• Wyze app integration with activity tracking and customization.
• Offline security since it doesn’t require Wi-Fi.
  

Cons

• No Wi-Fi connectivity. 
• Does not offer smart home integration
• Battery replacement is needed every 6–12 months.
• A fingerprint sensor can struggle if fingers are wet or dirty.

User Reviews

There are mixed user reviews on Wyze Locks. While some users praise it, others seem frustrated due to its issues. Those praising it say that Wyze locks’ performance improved significantly after replacing the batteries, and their units last for over four years. While others state that they faced durability issues. The lock fails within months due to stripped gears. However, remember that installation and alignment play key roles in a device’s malfunctioning. Misaligned bolts can cause jamming and wear. Features like fingerprint access are seen as valuable, though they come with tradeoffs such as weaker Wi-Fi connectivity.  Although Wyze cameras are popular, several users expressed hesitation in trusting the brand for serious security, while others highlighted mostly positive feedback and optimism about the newer Bolt model.

Yale Assure Lock SL (Keypad)

(Sleek, keyless, and reversible)

The Yale Assure Lock SL is a versatile choice for any home. This device comes with a touchscreen keypad and a modern smart lock design. Its touchscreen keypad allows you to unlock your door using a PIN code. Hence, Yale Assure lock eliminates the need for keys. It offers a reversible design. This Yale Lock ensures compatibility with both left- and right-handed doors.

Key Features

1. 100% keyless touchscreen keypad for a modern, minimal look.
2. Low-profile design that blends seamlessly with modern doors.
3. Works with both left- and right-swing doors.
4. Create and manage unique codes for family, guests, or service providers.
5. Lock the door instantly by pressing the keypad.
6. Uses 4 AA batteries with a backup 9V terminal in case of battery failure.
7. Add-on compatibility with Z-Wave, Zigbee, or Wi-Fi for remote access and smart home integration.

Pros

• Elegant, key-free design with no cylinder to pick or bump.
• Easy installation with standard tools.
• Supports multiple users with customizable PINs.
• Reversible for different door orientations.
• Optional smart home integration for advanced features.
• Good battery life (6–12 months depending on use).
  

Cons

• No physical key backup, which might concern some users.
• The touchscreen may be less responsive in extreme cold or when wet.
• Smart features cost extra (requires a module or Wi-Fi bridge).
• Slightly higher price point compared to basic keypad locks.
  

User Reviews

Yale has a long-standing reputation. It is also trusted by most users. However, some users also dismiss this lock as unreliable. They complain about the strain on the motor if the latch is misaligned. 

August Smart Lock (3rd Gen)

(Attaches to existing deadbolt, no door damage)

The August Smart Lock is the easiest solution for renters. It offers security and convenience without permanent modifications. The lock upgrades your existing deadbolt without replacing it. Moreover, it attaches to the inside of your door and lets you keep the original keys. 

Key Features

1. Attaches to your existing deadbolt.
2. You don’t need to drill or replace the door’s exterior hardware.
3. Automatically secures when you leave. It’s also unlocked as you approach.
4. Share digital keys with friends, family, or service providers.
5. Detects whether your door is securely closed or not.

Pros

• Perfect for renters since it doesn’t replace the exterior deadbolt.
• Keeps your original keys, so there’s always a manual backup.
• Quick and easy installation (10–15 minutes, no drilling).
• Auto-lock/unlock feature adds convenience.
• Guest access is flexible with app-based digital keys.
• DoorSense adds peace of mind by confirming if the door is fully shut.
  

Cons

• Bluetooth is only available by default
• Bulkier interior unit compared to newer smart lock models.
• It has a shorter battery life than keypad-based locks.
• No built-in keypad or fingerprint option.
• Higher cost when you add accessories.

User Reviews

There is a split between reviews. For some, it is the “best lock ever,” while others mark it as the “worst lock ever”. The reason depends on the difference in expectation, setup, and tech comfort. It is not for those who want a long battery life but choose a lock with Wi-Fi connectivity. This is because if your Wi-Fi connection is far away from the door, it will lead to rapid disconnects. This will also lead to faster battery drainage. On the other hand, a strong Wi-Fi connection and frequent battery swaps will make your experience seamless.

Level Bolt

(Invisible smart lock that fits inside your existing hardware)

The Level bolt smart lock transforms your standard deadbolt into a connected lock without even changing the look of your door. It is not like those bulkier smart locks that deliver compatible smart functionality.

Key Features

1. Fits inside your existing deadbolt hardware, preserving your door’s original look.
2. Lock/unlock and manage access using the Level app.
3. Automatically locks when you leave.
4. Continue using your existing keys while enjoying smartphone control.
5. Works with Apple HomeKit for voice commands and automation.
6. Send digital keys to family, friends, or service providers.
7. Powered by a long-lasting CR2 battery hidden inside the bolt.
   

Pros

• Great for renters or style-conscious homeowners who don’t want visible tech.
• Retains full key access (no lockouts if the battery dies).
• Seamless smart features like auto-unlock and guest access.
• Works with Apple HomeKit, ideal for iPhone users.
• Quiet and smooth operation.
  

Cons

• Higher price point compared to most retrofit locks.
• No built-in keypad or fingerprint option.
• Limited smart home compatibility.
• Installation is trickier than plug-and-play smart locks.
• Relies heavily on Bluetooth, so remote access may need a HomeKit hub.

User Reviews

The reviews on the Level Bolt Smart Lock are also divided. Some users complain about slow locking and unlocking. The automations are also slow, along with frequent “No Response” errors, even after moving the HomeKit hub closer to the lock. They also dislike that Bolt does not notify them if the door is left open. On the contrary, other users share good reviews on its reliable HomeKit integration and smooth performance. A few users also claimed that Level Bolt has been working the best over the years. 

ULTRALOQ U-Bolt Pro 

(For multiple entry options like fingerprint, app, keypad)

The ULTRALOQ U-Bolt offers renters one of the most comprehensive access systems. It is a versatile smart lock and is designed for maximum flexibility. ULTRALOQ U-Bolt comes with six different ways to unlock. This includes fingerprint, keypad, smartphone app, and mechanical key. 

Key Features

1. 6-in-1 Unlocking
2. Stores up to 120 fingerprints for fast, secure access.
3. Enter random digits around your PIN to protect against code theft.
4. Hands-free convenience when you arrive or leave.
5. Manage users, share eKeys, and view logs via the ULTRALOQ app.
6. Optional Wi-Fi Bridge
7. Weatherproof exterior with a long-lasting battery (up to 1 year).
   

Pros

• Extremely versatile with multiple unlocking methods.
• Reliable fingerprint sensor for quick access.
• Anti-peep keypad enhances security.
• Supports guest and family access with eKeys or codes.
• Strong build quality with weather resistance.
• Good balance of smart features and physical backup (key).
  

Cons

• Wi-Fi bridge sold separately for remote control and smart home integration.
• More complex setup than simpler smart locks.
• A fingerprint scanner may occasionally misread if hands are wet or dirty.
• Bulkier design compared to invisible or slim locks.
• Higher price point than entry-level options.

User Reviews

Common user experiences show that they love this lock. It offers convenient integrations and reliable battery life. While some also reported that its sensors are unreliable, with poor battery behavior. They suggest registering the fingerprints at the exact position where you will use the door. If you don’t do that, the auto-lock usually misfires when locking or unlocking the door. 

Eufy Security Smart Lock C21

 (Budget-friendly Wi-Fi-enabled model)

The Eufy Security Smart Lock C210 comes with built-in Wi-Fi. With this smart lock, you don’t need a separate hub or ridge. It offers multiple ways to unlock. The affordability of this lock makes it accessible for most households. It’s a great option for anyone looking to add smart home security with affordability.

Key Features

1. 4-in-1 Unlocking 
2. No additional hub required for remote access and voice assistant integration.
3. Unlocks in under a second with stored prints.
4. Allows a random digits PIN for extra security.
5. Manage codes and view logs.
6. It locks and unlocks remotely
7. Automatically secures your door when you leave.
8. Uses 4 AA batteries and USB emergency charging.

Pros

• Affordable price for a Wi-Fi-enabled lock.
• Multiple unlocking options for flexibility.
• Built-in Wi-Fi (no extra bridge required).
• Fast fingerprint recognition adds convenience.
• Easy to install on most standard doors.
• Strong app features with activity logs and guest access.

Cons

• Wi-Fi drains batteries faster (may need replacement every 3–6 months).
• Not as sleek in design compared to premium locks.
• Limited smart home compatibility beyond Alexa and Google Assistant.
• Fingerprint accuracy can vary depending on finger placement.
• Less durable in extreme weather compared to higher-end locks.

User Reviews

This one is Eufy’s newer model. The C34 does not have many reviews available. Yet it is designed to be more future-friendly and best for the people who want simplicity. 

Lockly Secure Plus

 (Pin-shuffle keypad for extra security)

The Lockly Secure Plus comes with enhanced security features. This lock has a patented Pin Genie Digital Keypad. This feature randomizes number locations every time you use it. That way, it prevents others from guessing your code by watching fingerprints. 

Key Features

1. Patented Pin Genie Keypad 
2. Multiple Unlocking Methods
3. Stores up to 99 fingerprints for fast, keyless access.
4. Generate temporary codes without needing Wi-Fi.
5. Locks automatically after a set time.
6. Notifies when the door is left unlocked.
7. Weather-resistant design for indoor and outdoor use.
8. Remote access and activity logs with an add-on hub.
   

Pros

• Pin Genie keypad adds unique anti-peep security.
• Versatile unlocking options (fingerprint, keypad, app, key).
• Strong fingerprint reader with fast response.
• Supports offline access codes, ideal for guests.
• Sturdy, weather-resistant build.
• Customizable auto-lock timer.

Cons

• Wi-Fi remote access requires an extra hub (not included).
• Bulkier design than some sleek/invisible models.
• Slightly more expensive than budget smart locks.
• Keypad learning curve for first-time users due to shuffling numbers.
• The fingerprint sensor may misread occasionally if fingers are wet.

User Reviews

Users love it for its sleek and modern look. It also offers seamless integration and stable connectivity. The battery life is strong as long as the deadbolt isn’t rubbing against the strike plate. One debate popped up about ANSI/BHMA grading. Grade 1 is the highest residential and commercial standard. Grade 3 is the lowest. Lockly Secure Pro is Grade 3, which still meets basic standards but isn’t as strong as Grade 1.

Conclusion

Selecting the best budget-friendly smart lock depends on your budget. You will also need to consider landlord flexibility and personal needs. If you want the one with the lowest cost, then go for the Wyze Lock Bolt. The August Smart Lock 3rd Gen offers easy installation. If you want more versatile features, then choose ULTRALOQ U-Bolt Pro. No matter which smart lock you choose, keep your budget and requirements first.

FAQs

Are smart locks worth it for renters?

Smart locks reduce your security concerns and enhance convenience. When renters purchase them according to their budget and requirements, they pay off quickly, leaving renters stress-free. 

What is the highest-rated smart lock?

1. Yale Approach Lock 
2. Schlage Encode Plus
3. Yale Assure Lock 2 Touch
4. Level-Lock Plus