What are the best practices to protect your tenants' personal information from identity theft?

1 Use secure storage methods

Whether you keep your tenants' information on paper or electronic files, you need to make sure it is stored in a safe and secure way. For paper documents, use locked cabinets, shredders, and fireproof safes. For electronic files, use encryption, passwords, antivirus software, and backups. Don't leave your devices unattended or share them with others. Dispose of any unnecessary or outdated information properly.

2 Limit access and disclosure

Only collect and retain the information that you need for legitimate business purposes, such as screening, leasing, and maintenance. Don't ask for more than what is required by law or industry standards. Limit the access to your tenants' information to yourself and your authorized staff or contractors. Don't share or sell it to anyone else without your tenants' consent or a valid legal reason. Notify your tenants of how you use and protect their information, and respect their privacy rights.

3 Monitor and update your systems

Regularly check your systems and devices for any signs of unauthorized access, tampering, or data breaches. If you notice any suspicious activity, report it immediately and take action to prevent further damage. Update your systems and devices with the latest security patches and software versions. Review your policies and procedures periodically and make sure they comply with the current laws and regulations.

4 Educate yourself and your staff

One of the most common ways that identity thieves get access to your tenants' information is through phishing, which is a form of email fraud that tries to trick you into revealing passwords, account numbers, or other personal details. To avoid falling for phishing scams, don't click on links or attachments from unknown or suspicious senders, and verify the identity and legitimacy of anyone who contacts you by phone or email. Educate yourself and your staff on how to recognize and avoid phishing and other types of fraud.

5 Respond quickly and responsibly

Despite your best efforts, identity theft can still happen. If you discover that your tenants' information has been compromised, you need to act quickly and responsibly. Notify your tenants, your service providers, and the relevant authorities as soon as possible. Provide your tenants with the information and resources they need to protect themselves, such as how to place a fraud alert on their credit reports, how to dispute fraudulent charges, and how to file a complaint with the Federal Trade Commission. Cooperate with any investigations and follow up with any remedial actions.

6 Seek professional advice

Protecting your tenants' personal information from identity theft can be a complex and challenging task. You may not have the time, expertise, or resources to do it on your own. That's why it may be wise to seek professional advice from a qualified lawyer, accountant, or IT specialist who can help you understand your legal obligations, assess your risks, and implement effective security measures. A professional can also help you in case of an identity theft incident and guide you through the recovery process.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?