Which is safer: storing your property management data on your computer or in the cloud? Property owners and managers keep a lot of personal and financial data on hand – both their own and their tenants’ – so it’s understandable that data security is a big concern.
Is your data safe in the cloud?
The short answer is probably. The long answer is yes, it’s actually safer to store your property management data in the cloud than it is to keep it anywhere else – if you are smart about it and using a trusted provider. Cloud storage companies depend on the trust of their clients to stay in business. To that end, they usually implement significantly more powerful security measures than most businesses employ on their own. For example, cloud storage companies invest in the latest software protection, as well as IT professionals whose only job is to maintain customers’ safety, cloud security and privacy.
Here at Yardi, we take our cloud responsibilities seriously. In 2017, Yardi was named for the second time to the Forbes Cloud 100, the definitive list of the top 100 private cloud companies in the world. Yardi was a member of the inaugural Cloud 100 in 2016, moving up to the #26 spot on the list in 2017.
What if I store my tenant & financial information on my computer instead?
Storing your property management data on your computer may seem convenient, but it opens you up to unnecessary risks.
- If you break or lose your computer, you lose your data.
- If your computer is lost or stolen, your tenant’s valuable personal information could fall into the wrong hands. This might include social security numbers, birth dates and address histories.
- If your computer is lost or stolen, all your financial information could fall into the wrong hands.
Hopefully none of the above ever happens to you. Even if it doesn’t, storing your data on your computer instead of the cloud also creates inconveniences for your business.
- If your computer isn’t with you and charged, you can’t work.
- If your tenant has a question about their account and you’re away from your desk, you can’t answer it right away. You’ll have to go back to the office first.
- If an emergency occurs at your property when you’re traveling or it’s after hours, you will not be able to notify your tenants quickly and efficiently.
7 benefits of cloud-based property management software
Using cloud-based property management software like Yardi Breeze will:
- Protect your data.
- Allow you to work from anywhere.
- Let you provide secure, self-service online access to tenants and owners.
- Increase your visibility and reporting with automated data tools.
- Keep your tech up to speed with automated updates.
- Reduce paper waste.
- Give you access to live support tools, if available.
In summary: if you want to safeguard your business information, increase your ease of access and stay competitive in today’s service-driven rental marketplace, cloud data storage is the way to go for most modern property management businesses.