"Cybersecurity Breaches Call for Rental Data Collection Overhaul"
Recent data breaches have further raised concerns about the security of personal information handled by corporations. However, one industry where a large-scale cybersecurity breach would be disastrous is real estate. Renters are increasingly concerned about data breaches in the rental sector, as they provide large amounts of personal information when applying for rental housing. Transparency regarding how this information is used, shared, and secured is often found to be lacking and unclear. According to Dr. Chris Martin, Senior Research Fellow at the University of New South Wales (UNSW) City Futures Research Centre, the ability of real estate agents and landlords to collect vast amounts of sensitive information is a major concern. The tenancy law expert calls on governments to regulate data collection in the rental sector. Real estate agents and landlords are gathering a lot more personal information, with arguably not much of a purpose, according to Dr. Martin. As a result, there is a significant risk that all of that information will fall into the wrong hands. Multiple identification documents, bank statements, utility bills, employment information, and rental history are common requests, but they are more than enough to falsify an identity. In addition, social media accounts, pet profiles, and self-funded background checks are becoming more prevalent. The types of questions asked in tenancy applications are becoming more intense, and applicants may not want to provide that level of information due to privacy concerns, but they little choice. According to Dr. Martin, the problem stems from a lack of regulation regarding the amount and type of information that property managers can request from tenants. Most states and territories have few restrictions on what agents can collect. Only recent amendments to the Victorian Residential Tenancies Act prohibit landlords and agents from asking tenants about previous disputes with renter providers, bond history, bank statements with daily transactions, or information about protected characteristics under discrimination law. This article continues to discuss the limitations of existing tenancy and privacy laws and the need for governments to regulate data collection in the rental sector.
UNSW reports "Cybersecurity Breaches Call for Rental Data Collection Overhaul"