After some experimenting. I have decided this is the most cost effective and efficient way to manage lots of bunch of keys. Previously what I did was I used to print on a piece of A4 paper, cut it out and then use cellophane tape to protect it from being torn off. A lot of property agents use those mini tag keychains but I feel is not good because the ink of the pen written will fade.
The only expensive stuff is my Labeling Machine (not that expensive, around RM100) which I bought it a discount from Popular book fair a few years back.
The other items required
1. Plastic cable ties
2. Cardboard (in my case I use Yomeishu box)
3. Scissors
4. Hole puncher
Steps
1. Cut the cardboard into rectangular strips
2. Punch a hole at the edge
3. Use cable tie to tie up the key, cut and trim the excess.
4. Print out the label using labeling machine (if want cheap just use a piece of paper, write it and then stick on the cardboard)