Property Management

Property managers need IT too

Michael Anderson Business Talk, IT Best Practices, IT Managed Services

Property Management

Technology is changing and impacting the property-management landscape. Consider electronic transactions, online financial and tenant data-storage, and smart devices that are now regularly installed into offices and residences (also known as the Internet of Things).

As building systems, processes, and tenant information become increasingly connected to the internet, the chances of a cyberattack and a privacy or data breach grows.

A big and concerning question in the property-management industry is, “If a data breach occurs, who is liable?”

In a 2017 article in Canadian Property Management, “Property managers downplay cybersecurity threats” Luciano Cedrone, vice-president of national security at Brookfield Properties, says:

“Property management companies can no longer take chances and hope for the best. Unfortunately, cybersecurity has been downplayed, undervalued, even kept at arms-length; the perception has always been that it costs a lot of money, slows down services and puts obstacles in your way.”

The article also mentions that panel speakers at the 2016 Property Management VIP Roundtable (Cybersecurity Vulnerabilities of Today’s Buildings), elaborated on the ramifications of not having a robust IT approach, which may include liability, financial damage, and harming your brand’s reputation.

CBRE Managing Director Enda Luddy, in a 2018 Bisnow article, “Mission Impossible: Cyber Security In Property Management” says, “Cyber security ratings (like energy ratings) will soon be a feature in buildings to inform occupiers when they are searching for space.”

Given these concerns, it’s worth asking, “Can my company withstand the test if hackers breach our network systems and data?”

There are, of course, some precautions that your company can take to secure your systems:

  1. Change your passwords consistently and make them strong.
  2. Install antivirus, antispyware and firewall software.
  3. Inventory your systems and know what data you own and where it’s stored.
  4. Implement two-factor authentication.
  5. Review your policies, procedures, processes and people to address any gaps.
  6. Assess your external and internal systems, verify security controls and cybersecurity framework.
  7. Back up your data.
  8. Monitor your systems 24/7 and respond to incidents in real time to contain threats.
  9. Educate your employees, as they are the first and last lines of defense for your company, its reputation and data.
How 365 Technologies Can Help Your Property Management Company

At 365 Technologies, it’s our business to help protect your business. We take the time to get to know you and learn all about your business, so you can focus on what you do best. We audit your systems, coordinate and manage your technical solutions and vendors, and proactively manage your network 24/7.

Give us a call at 204-488-3655 or email Michael Anderson to start enjoying the benefits of Worry-Free IT™.