Cybersecurity best practices for property managers

Have you been impacted by the huge IT outage hitting computer systems around the world? The CrowdStrike Falcon/Microsoft outage is really something else in its scale and severity. It reinforces the idea that cybersecurity is more crucial than ever, especially for property managers who handle a wealth of sensitive data.

Want to see how Console can help you safeguard your property management operations? Book a free demo with us today and discover how Console can protect your sensitive data.

From tenant information to financial transactions, the real estate industry is a prime target for cyber threats. So, let’s chat about some practical cybersecurity best practices for you to safeguard your business and maintain trust with tenants and clients.

Why should property managers care about cybersecurity?

Let’s face it – property managers like yourself deal with a ton of sensitive information, including personal details of tenants, financial records and confidential business data. A breach in cybersecurity can mean big trouble: financial losses, legal headaches and a tarnished reputation.

The recent CrowdStrike Falcon incident with Microsoft has shown us that even top-tier security solutions can have their flaws. It’s a wake up call that we need to be constantly on guard.

What’s the deal with the CrowdStrike Falcon scandal?

Here’s a quick rundown: CrowdStrike Falcon, a well-known cyber security firm, recently found itself in hot water because of a vulnerability exploited within Microsoft’s ecosystem. This whole situation made it clear that no security solution is failsafe.

For property managers, it’s a crucial reminder that cybersecurity is an ongoing process. You need to stay updated and vigilant to keep your data safe.

Cybersecurity tips for property managers

Let’s dive into some easy-to-follow tips that can help you bolster your cybersecurity:

1. Keep your software updated:

Make sure all your software, especially your property management software, are regularly updated with the latest patches* (*patches refers to the updates released by software developers to fix vulnerabilities, bugs or security issues in their software).

2. Use strong passwords:

Implement strong password policies. This means complex passwords that are changed regularly. Also, encourage using multi-factor authentication (MFA) for an added layer of security.

3. Train your team:

Regularly train your team on cybersecurity best practices. Teach them to recognise phishing attempts, avoid suspicious links and protect sensitive data. 

4. Encrypt your data:

Use encryption to protect sensitive data both in transit and at rest. This way, even if someone intercepts the data, they can’t read it without the encryption key.

5. Control access:

Limit access to sensitive data. Only give access to employees who need it for their job. Regularly review and update these permissions to ensure they’re still relevant.

6. Conduct security audits:

Regular security audits can help identify and address vulnerabilities. This proactive approach ensures your cybersecurity measures are always up to date.

7. Choose secure software:

Opt for property management software with strong security features. Console is a great example of a solution with build-in security measures to keep your data safe.

8. Have an incident response plan:

Create and maintain an incident response plan. This plan should outline the steps to take if a cyber-attack occurs, ensuring a swift and effective response to minimise damage.

Cybersecurity is something we all need to take seriously. With the growing sophistication of cyber threats, following these best practices is essential to protect your sensitive data, prevent cyber-attacks and maintain the trust of your tenants and clients.

The CrowdStrike Falcon incident isa timely reminder that we must stay vigilant and continuously improve our cybersecurity measures.

Want to see how Console can help you safeguard your property management? Book a free demo with us and discover the robust security features we offer.