Keyhook is retiring its landlord product - your options as a NZ self-managing landlord

Keyhook is retiring its landlord product. What now?

If you've been self-managing your rental with Keyhook, you've probably seen the news: Keyhook is retiring its self-management product. In the company's own words, from its transition page: "As we retire our product, we've worked closely with Bayleys to ensure you have a trusted, professional alternative." Keyhook now focuses on selling software to professional property management companies, and its existing landlords are being offered a move to Bayleys' full-service property management.

Bayleys is a respected operation - managing 13,000+ properties nationwide - and if you've been wanting to hand the whole job to a professional, that offer may genuinely suit you.

But many Keyhook landlords chose Keyhook because they didn't want full-service management. If that's you, here's a clear-eyed look at your options.

Option 1: Move to full-service management (the Bayleys path)

A professional property manager takes the work off your plate entirely - and charges for it. In New Zealand that's typically 8-10% of rent plus fees (letting fees, inspection fees, maintenance margins). On a $600/week rental, that's roughly $250-$320 a month before extras. You also step back from the decisions: tenant selection, maintenance spend, and rent reviews run through the manager's process.

If your time is genuinely worth more than the cost - or you're done with landlording admin - this is a fine choice. It's just not the choice most Keyhook users originally made.

Option 2: Go back to spreadsheets and a folder of PDFs

It works until it doesn't. The risk isn't the rent ledger - it's the compliance calendar. Healthy Homes statements, smoke alarm checks, insulation records, bond lodgement deadlines, notice periods under the RTA - the costs of missing one of these (Tenancy Tribunal awards, exemplary damages) dwarf the cost of any software. Most landlords who try the spreadsheet route after using software drift back within a year.

Option 3: Keep self-managing, with software that does the admin

This is the lane Keyhook is leaving - and it's the lane Keel was built for.

Keel is NZ-built software for self-managing landlords, from $15/month + GST per property (graduated, capped at $99/month for 10+). The day-to-day admin is handled by Skip, an AI assistant that drafts tenant replies, triages maintenance requests, chases overdue rent, and answers your NZ tenancy questions - with you approving everything before it goes out. Rent tracking, Healthy Homes compliance dates, bond lodgement, inspection records and IRD-friendly expense exports are all in the box.

If the reason you self-manage is control and cost, the maths is simple: a property manager on a $600/week rental costs ~$3,000-$3,800 a year; Keel costs $180.

Switching from Keyhook: a 15-minute checklist

(For the expanded version - including where each Keyhook feature lives in Keel - see the full Keyhook migration guide.)

1. Export your records from Keyhook before your access ends - tenancy agreements, rent ledger, inspection reports, compliance documents. Don't assume you'll be able to retrieve them later.
2. Note your live dates - next rent review, fixed-term expiry, Healthy Homes statement renewals, smoke-alarm check, insurance renewal.
3. Set up your property in Keel - add the property, tenancy and rent details (about 10 minutes), upload the documents you exported.
4. Run both side by side if you like - Keel's 30-day free trial means you can watch a full rent cycle land before you commit. No credit card, no lock-in.

The honest caveat

Keyhook's pivot is a reminder that this market is hard, and any software you choose should be judged on whether it's sustainable. Keel charges from day one rather than running free - that's deliberate: it's what keeps the product funded without needing to hand its customers to a property management agency. We'd rather be paid by landlords than paid for them.

If you're a Keyhook landlord weighing it up, compare Keel and Keyhook feature by feature, or start the 30-day trial and see if it fits before Keyhook's lights go off.