Residents
Owners
Property management companies collect sensitive data from rental owners and tenants. In verifying potential tenants, collecting rent payments, and transferring money, pieces of data are used and left in the care of property management companies.
The list of valuable rental owner and tenant data includes social security numbers, credit history, credit card numbers, and addresses. Such pieces of information should be protected at all costs, as long as the property management business is in possession of and in need of them. Then, they should be deleted when no longer needed.
In the face of the growing number and increasingly sophisticated cyberattacks, property management companies should strengthen measures to prevent hackers from accessing the sensitive information of rental owners and tenants. Let us find out how to protect the rental owner and tenant data in this blog article.
Cyber Threats Affecting Property Management Companies
Before we explore the ways of how to shield your business from cyberattacks, let us determine what are these cyber threats that may affect your business.
Phishing Scams
Clicking on a link sent to you through email or social media can make you a victim of phishing scams. Hackers conducting this ruse usually pretend to be an institution or person the recipient trusts.
Typically, the link contains malware that, once downloaded, may give hackers access to your device and compromise your confidential data. The link may also direct the recipient to a site and request him to enter sensitive information. For instance, the scammer may pose as your bank and send you an email prompting you to give your account details.
Malware
Malware is a program designed to obtain unauthorized access or disrupt a computer. Using malware, hackers can download files from a device, steal passwords and other sensitive data, and infect a computer to hold it hostage until you pay a ransom.
Computer viruses, trojan horses, botnets, ransomware, and keystroke logging are the most well-known types of malware. Your computer may get infected by malware if you click on malicious links or sites.
Phone Scams
Phone scams are an old-school way of getting confidential information from individuals and businesses. A scammer doing this maneuver may threaten you with disrupting your computer, arrest, or freezing your assets if you fail to give up your confidential data.
Malicious Websites
Avoid visiting websites that do not look legit or that contain false information. Moreover, never download anything from such sites because such downloads may infect your computer with malware. If you want to download music, movies, ebooks, or anything, make sure it is a well-known and legit website from which you are downloading.
Measures to Protecting Sensitive Data
Knowing the risks is crucial, but you need to create ways not to get victimized by hackers. When a hacker gains access to your network, he can steal your confidential data, as well as that of your clients (rental property owners), current tenants, and prospective tenants.
Therefore, make sure the following measures are in place to protect sensitive business data.
Use Firewalls, Antivirus, and Encryption
Firewalls help you set rules for your computer network and devices, restricting unauthorized network activity. Meanwhile, antivirus software identifies and eliminates malware that enters your network. Lastly, use encryption to keep any information you enter into your network, website, or devices secure.
Never let your staff and employees use company-issued devices to connect to public wifi. And, do not use unauthorized devices to connect to your network.
Create Strong Passwords and Use Two-Step Verification
All your employees should use secure passwords and two-step verification. Passwords should contain a variety of characters, numbers, and symbols to make them difficult to decipher by hackers. Avoid using passwords that are too easy to guess, and never use the same password across devices, programs, and apps.
Two-step verification is another measure to prevent hackers from accessing your network. This authentication method sends a security code to your email or smartphone after entering a password into a device, program, or app.
Company Network Must Be Used for Work-Related Purposes Only
Educate and train your staff to access and use your network for work-related purposes only. Do not allow them to use it to browse their personal social media feed or visit websites that are not related to your property management business.
Once your employee clicks on a suspicious link on Facebook or downloads movies from a malicious site, your network may get infected with malware, compromising valuable data. Restricting internet use in the office is an excellent data protection measure.
Takeaway
The threats posed by hackers to your property management business are serious. You cannot just get in the backseat and do nothing. Once hackers infiltrate your company network, the rental owners and tenant data you are handling may get compromised. Therefore, follow the measures we have discussed above to protect confidential business data.
