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NAA/NMHC Release Apartment Industry Cybersecurity Risks and Best Practices Report

Cybersecurity Risks

WASHINGTON, D.C. – A new in-depth analysis of cyber risk challenges facing the apartment industry and a clear roadmap on how to implement related best practices was published today by the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA). The white paper, entitled, “Multifamily and Cybersecurity: The Threat Landscape and Best Practices,” is designed to help apartment operators navigate the complexities of the cyber landscape. The paper is authored by noted cybersecurity attorneys, Christopher G. Cwalina, Kaylee A. Cox and Thomas H. Bentz of Holland & Knight.

“Cybersecurity is no longer simply an IT-issue, but an enterprise-wide risk management issue that must become a C-suite priority for the apartment industry,” emphasized NMHC Vice President of Government Affairs Kevin Donnelly. “Our new white paper provides a thorough legal and regulatory analysis of existing requirements faced by multifamily firms as well as a first of its kind, roadmap for developing a cybersecurity program that is constantly tested and refined – far beyond planning for a one-time occurrence.”

“The apartment industry, along with its third-party service providers, regularly collects, uses and maintains sensitive financial and personal data about residents, prospective residents and employees that leave them vulnerable to cyber incidents,” said Greg Brown, NAA’s Senior Vice President of Government Affairs. “As a result, we have long-recognized that cybersecurity is a key concern and this resource offers vital common sense, cost-effective solutions.”

Ultimately, the white paper highlights the importance of a robust cybersecurity program that includes incident response, evaluation of third-party relationships, oversight, staff training and risk mitigation.

To read the white paper’s executive summary; the full paper and webinar are available for members only (log-in required).

 


For nearly 25 years, the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) have partnered on behalf of America’s apartment industry. Drawing on the knowledge and policy expertise of staff in Washington, D.C., as well as the advocacy power of nearly 170 NAA state and local affiliated associations, NAA and NMHC provide a single voice for developers, owners and operators of multifamily rental housing. One-third of Americans rent their housing and 38 million people live in an apartment home. For more information, contact:

For more information please contact: Carole Roper or Jim Lapides