How Data is Stored and Secured on Property Management Software

Data storage used to be as simple as updating a checkbook or paper file. Nowadays, it looks a bit different. In the property management realm, cloud-based software and automation make it possible to manage rental businesses entirely online.

For landlords, this means taking extra care to ensure sensitive information is safe and secured. Tenants who enter their personal information, credit cards, or bank account numbers into your property management software trust you to take care of their data. Thankfully, a reputable platform will handle this for you.

Property management software developers are responsible for protecting and securing data. They understand that data security is a big concern for landlords, who naturally need to keep a lot of financial and personal data handy.

Here are a few ways that data is stored and secured on property management software.

Data Encryption

It might be a technology buzzword, but what actually is encryption? For those unfamiliar, data encryption is a method of securing information stored on the internet by scrambling or “encrypting” the content. Computers encrypt data through repeated translations into a code that can only be decoded by someone with the right “key.”

Encryption is powerful, allowing anyone from individuals to huge corporations to safely store large quantities of data on the web.

Property management software companies also use encryption. Cloud-based software platforms use encryption to protect sensitive information from potential hacking or digital theft.

If you use a trusted provider, it’s not easy for an outsider to get their hands on your data. Rest assured that you and your tenants’ information is safe.

Cloud-Based Convenience

Storing data on the web feels much different than traditional methods. However, this doesn’t necessarily mean it’s less secure. In fact, your data is probably much safer on a cloud-based platform (one that relies on the internet) than on a server-based platform (one that is installed onto your computer).

Here are a few ways that cloud-based property management software secures your data.

Automatic Backups

Hard drives are vulnerable to all sorts of disasters. You know how easy it is to lose valuable information if you’ve ever:

• Lost your computer
• Damaged your hard drive
• Had your computer crash unexpectedly
• Replaced your computer
• Had your computer stolen

And if your files are only saved to your hard drive, as is the case with local software, you might never be able to retrieve those files.

Cloud-based property management software, however, has built-in protection against these mishaps. Internet-based software regularly performs automatic backups to the cloud. If something happens to your computer, you don’t have to worry about losing important data.

Internet Access

Cloud-based software also offers maximum accessibility and flexibility for landlords. With cloud-based software, you can access data from anywhere you happen to be—as long as you have an internet connection.

For instance, let’s say you’re on vacation for the week. With cloud-based software, you can carry the information you need on your mobile device. You can still be in touch with tenants in case of emergencies and have the peace of mind of always knowing you can access your stored data.

Organization

Finally, data organization is easily achieved with cloud-based property management software. For many landlords, struggling to organize files and information on cluttered hard drives or email imboxes can be a real challenge. 

With property management software, all your data is consolidated in one place. No need to dig into file cabinets or wade through overwhelmed inboxes—every record you need is automatically generated and stored in a practical place on the software.

For example, let’s say a tenant claims they’ve already paid a late fee. In this situation, you don’t need to fret about finding your accounting book or worrying that you recorded something wrong. You can simply check your property management software’s payment records, which are produced each time a tenant makes a payment.

With automatic, organized records, you can find the data you need to resolve issues as quickly and efficiently as possible.

IT Support

As a final note, remember that a high-quality property management provider will supply responsive customer support. If you have questions or concerns about how your data is being stored, don’t be afraid to reach out to a representative. The software platform likely has IT and customer support personnel trained to answer your questions and verify the safety of your data.

Looking to Secure Success? First Secure Your Data

If you can’t guarantee the safety of your tenants’ information, then you won’t attract the tenants you’re looking for. Fortunately, securing data isn’t hard—simply choose a trusted property management software provider, and you can secure both your data and your business’s success.