The level of security offered in condo management software can likewise be significantly different from one company to another, but good software does contain solid protections built-in to maintain confidential resident information.
Security Features to Consider
Data Encryption
- In transit (e.g., SSL/TLS protocols): Encrypt data in transit over the internet.
- At rest (e.g., AES-256): Protects data stored in databases.
Access Controls
- Role-based access permissions: Segregate only the proper individuals (board members, property managers, etc.) from seeing individual data.
- Two-factor authentication (2FA): Has a second factor of protection, in addition to password protection.
Audit Logs
Tracks who has accessed or modified information, enabling trace-out of bad behavior or mistakes.
Security Updates
- Periodically updates software vulnerabilities regularly to block known exploits.
- If executed on AWS, Azure, or Google Cloud, it will most probably utilize a native high-level security infrastructure.
Potential Risks
- Human Error (e.g., poor passwords, incorrect access levels)
- Insufficient frequent backups result in data loss in the event of failures or attacks.
- Out-Of-Date Software (older versions have unpatched vulnerabilities)
- Insecure Integrations (e.g., with payment processors or third-party add-ons)
Best Practices for Condo Associations
- Select a vendor with a solid security history, reviews, and certifications (e.g., SOC 2, ISO 27001).
- Inquire about data ownership and storage—where the data is housed and who it is owned by.
- Educate employees and residents on cyber hygiene (good passwords, phishing identification).
- Periodically review access logs and permissions.