As increasing numbers of people do business and conduct financial transactions over the internet.
At least 26% of small businesses are often targeted by a large number of hackers and cybercriminals, who often disguise themselves as legitimate users to commit fraud or gather personal information.
Here’s why website security at all levels is crucial for property managers.
Common security risks in property management
Property management accounts are an essential part of the real estate business. However, there are a number of online security risks that you need to consider when running your business. The following list explores several common security risks:
Phishing scams: These are emails that appear to be from a legitimate source but actually contain malware or links to malicious websites.
Malware: A type of software designed to damage or disable computers, networks, and programs by covertly installing itself on them without users’ knowledge.
Password attack: It’s an attempt to discover someone’s password through a computer. These attacks typically involve guessing, brute force, or social engineering.
Hacking: The unauthorized access to data in a computer system, often by means of malicious programming such as viruses.
Consequences of security breaches in property management
A security breach occurs when someone gains access to your account without permission.
If this happens, they may be able to view or modify your content and use it in ways that you did not intend.
For example, they may be able to change the name on a lease agreement or send messages from your account pretending to be you. This means that if a client uses one of these services and has their personal information stolen by hackers, the hacker could potentially gain access to their personal information and use it for nefarious purposes (such as identity theft).
Lost data can be extremely costly for a company in terms of both money and time. In 2020, the damage cost due to a data breach in the US is estimated at $8.64 million. Plus, it will take time to recover, and all of the information may not be recoverable.
When you think about it, the importance of security for business websites should not be overlooked. It can impact customers’ trust in your brand, which is something that can have a huge impact on your bottom line.
Suppose a property management company has suffered a security breach and confidential information has been leaked online. In that case, this may mean that tenants will be less likely to want to do business with that company again because they do not feel safe sharing information with them.
Best practices for ensuring website security in property management
Passwords are the first line of defense in keeping your website secure. Using easy-to-guess, one-word passwords like “password” or “admin” will make it easy for hackers to access your site.
Instead, use a password that is at least eight characters long and includes:
upper and lowercase letters
Keeping software updated is another important way to keep your property management site secure. If a hacker has found a vulnerability in the software that powers your website, there will be an update available to fix it. And if you haven’t updated lately, that means you may be vulnerable!
Make sure all employees are aware of the importance of staying up-to-date with web security practices, including updating CRM software and choosing strong passwords. This can help mitigate any potential problems caused by human error or ignorance when it comes to maintaining website security.
It’s critical that you follow the best practices for protecting your customers and businesses from malicious activity. Security breaches, whether through malicious attacks or simple human error, are not widely publicized. But that doesn’t mean your business is immune.
Our experts are ready to help you make sure that your web servers are properly configured and optimized for the best possible performance. Contact us today at (916) 303-4080 for more information.