As a landlord, you will access lots of personal and confidential information about your and prospective tenants. Highly sensitive information such as photo IDs, social security numbers, bank account numbers, and background checks will be available to you. One of your duties as a landlord is to ensure that this private information is kept secure and out of the reach of prying eyes and criminals.
Protecting tenants’ private information involves physical and digital safeguards. Increasingly, most transactions and documents are in a digital medium, but that does not mean you can skimp on physical security measures.
Intelligent doorbells and smart locks are high-tech ways to secure access to your office. Smart locks can alert you on your phone if someone tampers with your lock, while intelligent doorbells alert you if someone rings the doorbell. The mere presence of security cameras inside and outside the office will deter thieves. For even more security, consider getting a 24-hour monitoring service through a company.
If you accept checks and money orders for payments, consider getting a lock box on your office door with a letter slot on the outside. This will let tenants drop off checks while preventing a would-be thief from simply prying a drop box from a wall.
Physical records such as leases, security deposits, and bank account numbers can be kept in a safe for maximum security. There is also an option of securing sensitive files and information in a safety deposit box at a bank or other off-site location. You should also shred any unnecessary files containing personal information that you no longer need. If you handle lots of paperwork, you can outsource the shredding to a document shredding company that will pick up and shred the files for you.
Steps to take for digital security include securing your internet connection. Make sure the Wi-fi you use is password protected, and consider using a VPN for maximum privacy and security. Two-step authentication when accessing emails and software programs is a great way to prevent unauthorized access to your tenants’ data. Even if a password is stolen, the two-factor authentication system will prevent the thief from being able to access sensitive information.
Accepting payment via a credit card may sound appealing and convenient, but it poses a security risk. It is best to accept payments through encrypted networks like PayPal and direct bank transfers if you can.
Your work computers, laptops, and smartphones will likely store a plethora of tenant data. If they get stolen, that could mean trouble for you and your tenants. Consider installing a software program such as Absolute that will let you track the location, block access, and delete the contents of any stolen computers remotely.