1. Phishing & Business Email Compromise (BEC)
Property managers rely heavily on email for vendor payments, rent collection, and tenant communications. Cybercriminals exploit this trust by sending convincing emails that trick staff into wiring funds or revealing login credentials.
👉 Why it matters: A single successful BEC scam can cost hundreds of thousands of dollars and damage client trust.
2. Ransomware Attacks on Tenant & Payment Data
Leasing platforms, rent portals, and property management software are prime targets for ransomware. Hackers lock you out of critical systems until a ransom is paid.
👉 Why it matters: Extended downtime can halt rent collection, disrupt operations, and trigger legal liabilities if sensitive tenant data is exposed.
3. Vendor & Third-Party Vulnerabilities
Property managers often use third-party contractors (maintenance, security, accounting) with access to systems. A weak link in any vendor’s cybersecurity can create an entry point for attackers.
👉 Why it matters: Even if the breach starts with a vendor, your company is responsible for protecting tenant and owner data.
4. Weak Passwords & Poor Access Controls
Many firms still rely on shared logins, simple passwords, or fail to enforce multi-factor authentication (MFA). This leaves accounts exposed to brute-force or credential-stuffing attacks.
👉 Why it matters: One compromised login can give attackers full access to rent payments, lease agreements, and bank accounts.
5. IoT & Smart Building Security Risks
Smart locks, HVAC systems, and connected surveillance cameras improve efficiency but also expand the attack surface. Many IoT devices ship with weak security settings and rarely receive updates.
👉 Why it matters: Hackers can exploit vulnerabilities to disrupt building operations—or worse, gain physical access to tenant spaces.
How Property Managers Can Stay Protected
- Require MFA for all logins
- Regularly back up property management systems
- Vet vendors for cybersecurity practices
- Train staff to spot phishing attempts
- Secure IoT devices with strong configurations
💡 Bottom line: Property management firms are custodians of sensitive financial and tenant data. Proactive cybersecurity isn’t just IT—it’s part of client service, risk management, and reputation protection.
🔒 Ready to safeguard your property management company?
Book a Cyber Risk Strategy Call with FUNCSHUN
