Data Security in Property Management

Property management companies handle vast amounts of sensitive data, including personal information, rental agreements, and financial records. Without adequate cybersecurity measures, this data is at risk of being compromised or stolen.

Housing Associations are particularly at risk due to the vast number of tenants they manage, and close links to government and public sector bodies. According to the latest statistics from Statista, there were just over 4 million socially rented homes in England in 2022 alone and as of July 2023, there were 1600 housing associations in the UK. Housing Associations can also face the additional challenges of recruiting the full spectrum of qualified cyber security staff required in current times and are sometimes restricted by limited budgets.

Supply Chain Management is another key area of cyber risk for housing associations.  

According to tax consultancy RSM UK, a shocking 25% of the country’s housing associations have suffered from a cyber-attack in the last 12 months. The country’s largest, Clarion Housing Association, suffered significant disruption to its IT systems and phone lines in June 2022, with many of its 125,000 tenants unable to contact their landlord to report issues.

Cyberattacks on this sector can not only be financially catastrophic but as vital pillars in the community, housing associations provide much needed shelter and support to some of the most vulnerable groups in our society. As such, their operational security extends well beyond financial considerations. Even the smallest breach can disrupt essential services, compromise tenants’ privacy, and erode public trust in the long term.

Digital Transformation

In today's market, housing associations, increasingly conduct transactions online, as reflected in the growth of Proptech (Property Technology) firms to facilitate and streamline processes. Whilst these advances offer improved and more convenient access to resources, they also increase the attack surface of potential breaches. It can open the door to fraud and cyberattacks targeting both tenants and housing associations themselves. Keep up to date with Supply Chain best practice here.

Protecting Smart Homes

The rise of smart home technology brings convenience and automation to home and property owners. However, smart devices can also serve as entry points for cybercriminals to launch attacks, including data theft, distributed denial of service and permanent denial of service attacks, or even device hijacking. Man-in-the-middle attacks are also a significant threat. This is when attacker breaches, interrupts, or spoofs communications between two systems. Ensuring the security of smart homes is therefore a critical aspect of housing sector cybersecurity.

How to Mitigate Cyber Attacks in The Housing Sector

Education

One of the most cost-effective ways for housing organisations and households to mitigate cyber-attacks is knowledge of common cyber threats. This includes training staff how to spot phishing emails and ransomware attacks, and essential cyber security best practice. Ransomware and phishing remain the biggest threats due to the nature of the data that the sector holds and its perception as an easy target. PureCyber’s Phishing Simulation service and staff awareness training can strengthen the human firewall of your organisations; find out more here.

The Role of Compliance and Regulations

Housing sector professionals need to be aware of cybersecurity regulations and data compliance requirements. Ignoring these regulations can lead to legal implications, financial penalties, and reputational damage. Staying informed and implementing necessary security measures is essential for compliance. Governance is crucial to the implementation of robust cyber security across an organisation from Cyber Essentials and Cyber Essentials Plus, to IASME Assured and ISO27001 the Governance team at PureCyber can advise and support you on your cyber security journey.

Vulnerability Monitoring

The Housing sector has invested heavily in digital transformation to provide a greater customer experience for residents. This includes customer portals to manage rent payments, chatbots, and smart devices connected to the internet, such as thermostats. Alongside the benefits to tenants, however, this has also created more potential endpoints for malicious actors to exploit and a more complex attack surface to monitor. Using outsourced services such as 24/7 SOC (Security Operation Centre) and penetration testing is a cost-effective way for housing associations to monitor their endpoints, identify vulnerabilities and manage their resources effectively.

Penetration Testing

With digital transformation comes increased opportunity for cyber criminals to exploit gaps in your security. The aim of penetration testing is to simulate a real-world attack to identify security vulnerabilities. Our CREST certified penetration testers can help you identify these weaknesses before cyber criminals do and enable you to take necessary mitigation measures. PureCyber provides a step-by-step report on how each weakness was identified and exploited, and subsequent remediation advice.

Incident Response Plan

 Having an incident response plan in place is essential for any organisation, but especially so for the housing sector, where downtime to any services will have an immediate and clear impact on tenants and homeowners. This includes defining clear roles in the event of an incident and regularly testing your plan through tabletop exercises. As part of PureCyber’s services the team support organisations to prepare and scenario test incident response plans to strengthen cyber resilience.

Future Support

As the housing sector embarks on greater digital transformation, property management companies handle sensitive data, and smart homes become more prevalent, the sector must prioritise security to protect the homes, data, and privacy of all involved.

If you would like advice on how to ensure robust cyber security measures are in place for your organisation, please click here to explore our subscription options or if you would like to talk to one of our cyber experts use the contact button below.