{"id":7548,"date":"2017-05-15T14:38:02","date_gmt":"2017-05-15T21:38:02","guid":{"rendered":"https:\/\/www.rentecdirect.com\/blog\/?p=7548"},"modified":"2018-06-25T15:21:31","modified_gmt":"2018-06-25T22:21:31","slug":"property-managers-protected-cyber-attack","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/property-managers-protected-cyber-attack\/","title":{"rendered":"Property Managers and Landlords Protected from Recent Cyber Attack"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-7553\" src=\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/05\/Cyber-Security-.png\" alt=\"cyber attack\" width=\"560\" height=\"315\" srcset=\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/05\/Cyber-Security-.png 560w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/05\/Cyber-Security--300x169.png 300w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2017\/05\/Cyber-Security--352x198.png 352w\" sizes=\"(max-width: 560px) 100vw, 560px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Property managers and landlords can feel confident that their sensitive data and secure files are safe from computer hackers when using a secure cloud-based software, like <a href=\"https:\/\/www.rentecdirect.com\/software-for-property-managers\">Rentec Direct<\/a>, for their real estate business. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In light of the recent ransomware cyber attack, which authorities are citing as <\/span><a href=\"http:\/\/money.cnn.com\/2017\/05\/14\/technology\/ransomware-attack-threat-escalating\/\"><span style=\"font-weight: 400;\">the world\u2019s biggest cyberattack<\/span><\/a><span style=\"font-weight: 400;\"> ever, everyone needs to evaluate how their personal and professional files are stored and maintained. Unsecure systems are vulnerable to hackers who will access your sensitive data and use it against you. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This was the case for the ransomware attack that made headlines over the weekend. \u00a0<a href=\"http:\/\/money.cnn.com\/2017\/05\/14\/technology\/ransomware-attack-threat-escalating\/\">According to CNN<\/a>, \u201cthe attack is a virus that locks people out of their computer files until they pay a ransom to the hackers.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If a company or person had files stored on their computer, the ransomware virus prevented you from being able to access those files until you paid the ransom. For a property manager who keeps his business data on his computer, like tenant information, accounts, ledgers, or rent payment notes stored in Excel, he would be forced to halt his workday in order to find an alternative way to continue operating. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Besides disrupting a rental manager&#8217;s workflow, a cyber attack has additional damaging repercussions. \u00a0Property managers have access to highly sensitive personal data from their renters, that they are professionally obligated to keep safe and secure. \u00a0So it is extra important for property managers and landlords to use the most secure system possible, to keep their tenant information and business records safe, and keep their operations going smoothly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ransomware attack prevented access to hard files stored on a computer, through a Microsoft vulnerability. Cloud-based software and storage were not at risk to this ransomware attack. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Cloud-based software is more secure than installed software or files saved to your computer. <\/span><\/h3>\n<p><span style=\"font-weight: 400;\">So even if your computer was vulnerable and fell into the ransomware attack, since Rentec Direct stores all your files securely in the cloud, your sensitive tenant and account information was not accessible to these ransomware attackers. You\u2019d be able to access your software and files from another device and continue your day-to-day operations.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">How does Rentec Direct keeps its system extremely secure?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To ensure that your data is protected, Rentec Direct is always reviewing the most recent security practices and making sure to be alert of any possible security threats that may be sweeping the nation. <\/span><span style=\"font-weight: 400;\">This online solution is much more reliable and safer than a physical workstation or home PC.\u00a0<\/span><\/p>\n<table width=\"100%\" cellspacing=\"0\" cellpadding=\"4\">\n<colgroup>\n<col width=\"128*\" \/>\n<col width=\"128*\" \/><\/colgroup>\n<tbody>\n<tr valign=\"top\">\n<td width=\"50%\">\n<p style=\"text-align: center;\" align=\"left\"><strong><span style=\"font-family: 'source sans pro', arial, sans-serif;\"><span style=\"font-size: medium;\">Rentec&#8217;s Online Software<\/span><\/span><\/strong><\/p>\n<\/td>\n<td width=\"50%\">\n<p style=\"text-align: center;\" align=\"left\"><strong><span style=\"font-family: 'source sans pro', arial, sans-serif;\"><span style=\"font-size: medium;\">Home PC or workstation<\/span><\/span><\/strong><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"top\">\n<td width=\"50%\">\n<p align=\"left\"><span style=\"font-family: 'source sans pro', arial, sans-serif;\"><span style=\"font-size: medium;\">Servers are routinely scanned by a 3<sup>rd<\/sup> party security vendor for viruses or hacking attempts<\/span><\/span><\/p>\n<\/td>\n<td width=\"50%\">\n<p align=\"left\"><span style=\"color: #333333; font-size: medium;\"><span style=\"font-family: 'source sans pro', arial, sans-serif;\">Viruses and malware are written for the home or office workstation<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"top\">\n<td width=\"50%\">\n<p align=\"left\"><span style=\"font-family: 'source sans pro', arial, sans-serif;\"><span style=\"font-size: medium;\">Servers are backed up on and off site with redundant copies at each location.<\/span><\/span><\/p>\n<\/td>\n<td width=\"50%\">\n<p align=\"left\"><span style=\"color: #333333; font-size: medium;\"><span style=\"font-family: 'source sans pro', arial, sans-serif;\">User error can result in incomplete or non-existent backups.<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"top\">\n<td width=\"50%\">\n<p align=\"left\"><span style=\"color: #333333; font-size: medium;\"><span style=\"font-family: 'source sans pro', arial, sans-serif;\">Enterprise grade hardware and software provide a high reliability. Technologies such as RAID (hard drive mirroring), replication, load balancing, and other high-tech methods<\/span><\/span><\/p>\n<\/td>\n<td width=\"50%\">\n<p align=\"left\"><span style=\"color: #333333; font-size: medium;\"><span style=\"font-family: 'source sans pro', arial, sans-serif;\">Home or office use hardware and hard drives can and do routinely fail.<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"left\"><span style=\"font-weight: 400;\">Compared to desktop based software solutions, Rentec Direct\u2019s secure servers are much more reliable at protecting your private data. \u00a0Statistically, your <\/span><a href=\"https:\/\/www.rentecdirect.com\/blog\/2014\/04\/do-you-use-online-data-storage-to-protect-your-valuable-data\/\"><span style=\"font-weight: 400;\">data is far safer being housed within our online rental software<\/span><\/a><span style=\"font-weight: 400;\"> than it would be on any workstation. \u00a0Applications that physically run on your workstation are much more susceptible to data loss and intrusion by hackers. \u00a0There are many reasons for this:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Rentec&#8217;s servers are routinely and randomly scanned by a third party security vendor to ensure they are safe from both hackers and viruses<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Rentec&#8217;s servers are frequently backed up. On top of the many layers of redundancy we incorporate to ensure <a href=\"https:\/\/www.rentecdirect.com\/blog\/temporarily-unavailable-what-it-really-means-for-your-business\/\">100% uptime<\/a>, we also backup frequently both on-site as well as off-site to ensure maximum reliability in the event of a catastrophic failure.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Rentec\u00a0uses high-reliability enterprise grade hardware and software. \u00a0Enterprise grade hardware and software provide a higher level of reliability than typical workstation class hardware. \u00a0This keeps our system online and running error free. \u00a0We also employ technologies such as RAID (hard drive mirroring), replication, load balancing, and other high tech methods to ensure 100% uptime.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Rentec Direct recognizes that data security is an important and necessary part of a property manager\u2019s responsibilities and provides the best tools for real estate professionals to protect their business, clients and tenants. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">What type of professional records do property managers need to securely store? <\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><strong>Renter Information<\/strong> &#8211; Property managers keep records of their tenant\u2019s renter applications, which can contain social security numbers, birthdates, addresses, bank information and other personal data. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most state <\/span><a href=\"https:\/\/www.rentecdirect.com\/blog\/need-keep-tenant-credit-authorization\/\"><span style=\"font-weight: 400;\">laws actually require that rental owners and managers keep rental applications for all applicants<\/span><\/a><span style=\"font-weight: 400;\">, not just tenants, for 4-7 years. \u00a0The idea is that a landlord needs to be able to have records to protect himself against any legal proceedings throughout the statute of limitations. \u00a0Rental applications serve as a starting point to defend yourself against discrimination claims and illegal access to credit report inquiries. \u00a04-7 years can add up to dozens or hundreds of rental applications and renter data that needs to be safely secured. <\/span><\/p>\n<p><b>Owner Files<\/b><span style=\"font-weight: 400;\"> \u2013 If you provide property management services for owners, you will need to keep records of your management agreements, any property files listed below, and payment records related to rental income, management fees, or property maintenance.<\/span><\/p>\n<p><b>Property Files<\/b><span style=\"font-weight: 400;\"> \u2013 Depending if you own rental property or simply manage rental properties for other owners, your record retention requirements regarding property files may be different. <\/span><\/p>\n<p><b>Vendor Files<\/b><span style=\"font-weight: 400;\"> \u2013 property managers and landlords work with all sorts of vendors related to their properties and business. \u00a0Organizing and storing vendor files appropriately will help you come tax time when submitting your 1099-MISC documents and if a dispute ever arises. <\/span><\/p>\n<p><b>Financial Records<\/b><span style=\"font-weight: 400;\"> \u2013 Whether you manage your own rental properties or provide property management services for your owners, maintaining proper financial records is important for completing your tax appropriately every year, ensuring proper trust accounting compliance, and surviving an audit.<\/span><\/p>\n<p><b>Business Documents<\/b><span style=\"font-weight: 400;\"> \u2013 Maintaining files that relate specifically to structure of your property management business are essential for ensuring legal compliance, securing new clients, or surviving an audit. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you lost access to these files or records, how long would it take you to be up and running again? Businesses like Fedex and some U.K. hospitals lost access to their computer system during the ransomware attack.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">What was the ransomware cyberattack called and why did it happen? <\/span><\/h3>\n<p><span style=\"font-weight: 400;\">According to CNN, \u201cthe ransomware, called WannaCry, locks down files on an infected computer and asks the computer&#8217;s administrator to pay in order to regain control of them. The exploit was leaked last month as part of a trove of <\/span><a href=\"http:\/\/money.cnn.com\/2017\/04\/14\/technology\/windows-exploits-shadow-brokers\/index.html?iid=EL\"><span style=\"font-weight: 400;\">NSA spy tools<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe ransomware is spread by taking advantage of a Windows vulnerability that Microsoft (MSFT, Tech30) released a security patch for in March. But computers and networks that hadn&#8217;t updated their systems were still at risk.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Learn how <\/span><a href=\"http:\/\/money.cnn.com\/2017\/05\/13\/technology\/ransomware-attack-protect-yourself\/index.html?iid=EL\"><span style=\"font-weight: 400;\">individuals can protect their computers from ransomware<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3>Other Types of Cyber Attacks<\/h3>\n<p>Ransomware is just type of cyber attack vulnerable parties may encounter. Other types of cyber attacks can include social engineering, malware, phishing, mining cryptocurrencies viruses, AI-powered attacks, Denial-of-Service Attacks (DDoS), and session hijacking. Bill Jefferson from Top VPN Canada provides a solid break down of some of these cyber attacks in his article, <em><a href=\"https:\/\/www.topvpncanada.com\/most-common-types-of-cyber-security-attacks\/\">The Most Common Types of Cyber Security Attacks<\/a><\/em>, in an effort to help everyone stay informed and protected.<\/p>\n<hr \/>\n<p>Rentec Direct values security and wants to ensure our clients that we take every possible measure to protect their information and stored data within the software. \u00a0We understand that our clients handle highly sensitive information about their owners, tenants and properties for their property management business.<\/p>\n<p>Rentec Direct also understands the imporance of accessibility to your business records and important files.\u00a0\u00a0Rentec Direct typically reports between a 99.99%-100% uptime every month. \u00a0Maintaining a 100% uptime means you were able to access tenant screening reports, market vacancies, receive online rent payments, process leases, follow up on maintenance requests, and complete accounting tasks.<\/p>\n<p>To make certain that your data is always protected, Rentec Direct constantly reviews our security practices and subscribes to security lists to stay apprised of any and all possible vulnerabilities and security threats in our industry.<\/p>\n<hr \/>\n<h3>Related Reading For You:<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.rentecdirect.com\/blog\/property-managers-guide-to-maintaining-proper-records\/\">Property Manager&#8217;s Guide to Maintaining Proper Records<\/a><\/li>\n<li><a href=\"https:\/\/www.rentecdirect.com\/blog\/safeguarding-data-dont-overlook-these-important-steps\/\">Safeguarding Data, Don&#8217;t Overlook These Important Steps<\/a><\/li>\n<li><a href=\"https:\/\/www.rentecdirect.com\/blog\/pick-best-property-management-software-avoid\/\">How to Pick the Best Property Management Software and Want to Avoid<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Property managers and landlords can feel confident that their sensitive data and secure files are safe from computer hackers when using a secure cloud-based software, like Rentec Direct, for their real estate business. \u00a0 In light of the recent ransomware cyber attack, which authorities are citing as the world\u2019s biggest cyberattack ever, everyone needs to [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":7560,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[275,3,725],"tags":[],"class_list":["post-7548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-news","category-property-management-software","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is 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