From fire alarms to video surveillance, property management companies take resident and building/operational security seriously. That’s why more and more property firms are changing the way they do business, and switching over to web-based property management apps for leasing and applications, communications, reporting and many other functions.
These digital solutions that leverage cloud, automation and paperless solutions help to tighten security and remove the “human touch” that can play a role in security breaches, either through carelessness or criminal intent.
Let’s unpack how these software-as-a-service solutions bolster organizational security.
1. Heightened Personal Data Security
Property managers must shred paper credit reports and get rid of any documents that contain personal tenant data after the sensitive information is no longer needed. Yet even with good intentions and set guidelines, security risks loom especially with paper documents. With a property management app, documents are digital and stored in the cloud. Therefore, they are safer as you can set access/user permission levels and greatly reduce the risk of stolen personal data.
2. Better Business Continuity
Property management companies also turn to online applications as a way to protect their operational and tenant data in case of emergency. In the event of a fire, or a flooded server room or any other compromised security, a web-based solution means it’s business as usual – no downtime, no lost productivity and no negative impact on operations or tenants. Just log into any computer, tablet or smartphone and you’re up and running without missing a beat.
3. Safer Rent Payments
Property firms that continue to accept cash payments or cheques risk the danger of theft and identity theft. Switching tenants over to online payment is far more secure – and renters prefer the option. To ensure data security, property management apps, like Property Vista’s, deliver PCI compliant end-to-end data encryption to safeguard user information.
4. Eliminate Vulnerabilities
Too many organizations – property management or otherwise – fail to consistently update their computers' security software. Combine this with the all-to-common mix of outdated operating systems and a lack of regular backups, and you are opening yourself up to viruses or hacking. With cloud-based property management apps you don’t have to constantly be updating to the latest version, or downloading security patches. The app itself handles this type of around-the-clock security updating, continually protecting you from the most recent malware and hacking strategies.
5. More Work-From-Home Safety
With the pandemic, more employees than ever are working from home. If you aren’t using a cloud-based solution, small accidents like a spilled coffee or dropped laptop can mean that data stored on a hard drive is lost. And, if your employee’s laptop is stolen, with a cloud solution, any company or tenant information is safely guarded.
6. Fewer Human Hands
IBM has reported that human error contributes to 95% of all security breaches. Automation reduces human error as well as compromised personal tenant data. When you can digitize and automate property management tasks, you reduce the number of human interactions in any given function. From online applications that can automatically go through a non-biased credit check to being able to auto-populate data from the application to the lease, not only does this reduce careless mistakes, it reduces the number of eyes and hands on data. The end result is safer, more secure processes.