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At our scheme (NSW), partly due to a concern about the potential for short-term letting, we came to an arrangement where concerned residents could leave a key with BM/SM/Neighbour.
We have a key safe for our security guards and certain contractors and after a number of incidents we came up with a ‘safe management plan’ – something that individual residents are unlikely to duplicate.
Anyway, after several conversations with the residents, we all agreed that a key safe has a number of – in particular keeping track of the code and who had it.
And in the case of real emergency (fire or medical) – no-one waits for keys/codes in any case.