The Role of IoT in Real Estate and Its Security Implications

By : Harsha Vachher Dec 20,2023

What is IoT?

IoT refers to the network of physical devices embedded with sensors, software, and other technologies that enable them to connect and exchange data with other devices and systems over the internet.

What is IoT in buildings?

IoT technology has revolutionized the way buildings are managed and operated, offering new opportunities for efficiency and tenant experience. By connecting various devices and systems through the internet, IoT enables real-time monitoring and control of building functions such as lighting, heating, ventilation, and security. This level of automation helps save energy, make buildings more comfortable for tenants, and even predict when maintenance is needed. For example, a smart thermostat can adjust the temperature based on the weather outside.

However, along with these benefits come security implications that must be considered and mitigated.

Security Implications of IoT in buildings.

  1. Increased attack surface – IoT devices can create new entry points for hackers.
  2. Risks and vulnerabilities – : Many IoT devices have limited security features and may be vulnerable to attacks, such as malware and data breaches.
  3. Data privacy - : IoT devices collect and transmit data, which could lead to potential misuse of sensitive information.

Best Practices for secure deployment of IoT in buildings.

  1. Deploy IoT devices in a separate segment to limit the impact of a compromised devices.
  2. Change the default credentials and configurations.
  3. Keep device firmware and software up-to-date to protect against known vulnerabilities.
  4. Use data encryption both at rest and in transit to protect it from unauthorized access.
  5. Perform vendor risk assessment to ensure vendor follows best practices for IoT security.

By implementing best practices for IoT security, building owners and occupants can harness the benefits of IoT while mitigating its potential risks.