Abstract: An apparatus for automated key retrieval and deposit includes a housing and a key storage rack assembly positioned within the housing. The automated key retrieval and deposit apparatus also includes a key holder for holding a key to be retrieved positioned on the key storage rack, and a key holder actuating mechanism operatively connected to the key holder, for actuating the key holder between an extended position and a retracted position. The automated key retrieval and deposit apparatus further includes a cover pivotally connected to the key storage rack and actuatable between a closed position and an open position, wherein the cover, in the closed position, exerts a force on the keyholder to retain the key on the key holder.