When you think about protecting your rental property, you probably first consider sturdy locks and alarm systems. But today’s landlords need to protect more than bricks and mortar. Keeping information secure for you and for your renters is just as crucial as protecting access to the front door.
For some, cybersecurity measures can feel a bit overwhelming, especially if you are new to the rental industry. However, it’s crucial to understand that in today’s digital age, the risks of not implementing these measures are far greater than the initial effort required. With just a few smart steps, you can establish robust landlord data security and protect your business from online threats.
Why Landlord Data Security Matters
Every landlord handles a lot of sensitive information. Rental applications, background checks, lease agreements, and payment details are just a few examples. If this data falls into the wrong hands, it could lead to problems such as identity theft, fraud, or expensive legal issues for both you and your tenants.
For example, if a hacker were to gain access to your tenant portal, that data breach could expose sensitive information, including Social Security numbers, payment details, and lease information. And you would be at fault for this breach, especially if your cybersecurity measures aren’t up to par.
For this reason, protecting tenant data is not only a good business practice, but it also protects you from liability and demonstrates your care for your renters’ well-being.
Strong Passwords and Access Controls
A strong password is your first line of defense in cybersecurity. A strong password is difficult for scammers to guess or derive. For example, good passwords are typically extended, unique mixes of letters, numbers, and symbols. It’s also important not to reuse the same password for multiple websites and applications. While it can be challenging to remember all your passwords, consider using a secure password manager to help you keep track.
In terms of access controls, be cautious about sharing account access with only trusted staff. For example, if you have a maintenance supervisor who doesn’t require financial data, don’t provide them with the login information for your rent collection system. Keep a careful track of who has access to what, and if something changes or a staff member leaves, ensure that all relevant passwords are changed immediately.
Secure Document Storage for Rentals
Another essential part of data security is storing sensitive documents safely. Unlike rental applications in the past, today’s digital systems use file uploads to share and store documents.
To ensure the security of these documents, use encrypted cloud storage or reputable property management software. It’s also important not to expose your renter’s personal information by email. Emailing documents is convenient, but emails are easy to hack. Instead of emailing a lease with tenant info as an unsecured PDF, use a secure document storage rentals platform that encrypts data during upload and download.
If you do still accept documents on paper, develop a secure system for storing and disposing of personal information. For example, printed documents should be stored in a locked cabinet with limited access. Safely shred any documents that you no longer need to keep, ensuring information remains safe and out of the hands of scammers.
Smart Devices and Internet Safety
Popular upgrades in today’s rental homes include smart locks, security cameras, and thermostats. Features like these are a great way to attract renters. However, these devices can also be entry points for hackers if they’re not set up correctly.
For example, a smart lock with the factory password “admin” is basically an open door for a hacker. For this reason, always change default passwords on smart devices and update their software regularly. This can keep your devices and your rental property secure.
Educate and Monitor for Threats
One of the most alarming aspects of cybersecurity threats is that they are constantly evolving. Scammers are forever finding new and more insidious ways to steal your data. That’s why it’s essential to stay alert for different types of threats, including phishing emails that ask you to “verify” tenant details or messages that request personal information.
To thwart these attempts, monitor your accounts for unusual activity, such as logins from unfamiliar locations. Also, check all emails and other unsecured messages carefully to ensure they are from a verified source. For example, if you receive an email that appears to be from your bank but contains a suspicious link, do not click on it. Instead, double-check by calling the bank directly first.
Protect Your Tenants and Your Reputation
When it comes to data security, a few smart steps today can save you big headaches down the road. Practicing good cybersecurity is not just about reacting to threats, but also about being proactive and preventing them from occurring. It can help keep your rental business running smoothly and protect your tenants’ personal information from identity thieves.
If you’d like help keeping your rental property and your data protected, Real Property Management Majestic can assist you. We’re here to help you manage your rental properties in Tucker with confidence! Contact us online today or call 470-563-1001.
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