With very little oversight into why the amount of data is stored in the first place,where it is stored and the duration,Dominello said an entire rethink of data collection for any purpose,including real estate,was needed.
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“When you consider the extraordinary cost of cybercrime in the country,which extends to the tens of millions of dollars,it is clear that there are significant problems when it comes to sharing of personal information,” he said.
“There definitely needs to be a rethink of what information we absolutely need to share,how long that information is shared for,and when that information should be destroyed.
“It is clear that much of the architecture that we have in place now was built in the last century,in a world that did not envisage the digital age.
“I would support a holistic review about data sharing. It makes sense that given how many people rent their homes that this would be an area of high impact and warrants particular focus.”
Tenants’ Union NSW chief executive Leo Patterson said they would support a general inquiry into the real estate industry’s technology and data privacy practices because so many problems go unchecked.
“Part of the issue has been things keep popping up that we’re not aware of until it is brought to our attention by tenants. The practices we’re concerned about we would even miss,” Patterson said.
“A lot of people haven’t paid attention to it in the regulatory space. A lot of weird things are happening on the edges. In general,certainly looking at what are the responsibilities of real estate agencies but also the third-party platforms that are delivering services to agencies.”
But the rental application process was the biggest concern for the union because tenants are routinely providing so much sensitive information,Patterson said.
Better Renting executive director Joel Dignam also supported the government’s commitment to review the necessary data collected for rental applications and how it is stored.
Dignam suggested a single mandated rental application form to limit what agents can ask tenants to provide,similar to what the South Australian Liberals have proposed.
He also said a central rental application portal,similar to bonds,was another potential way to reform the area.
“Certainly,where the government is more involved to make sure the process is done in a more secure way and is taken out of individual landlords out,it’s a positive shift,” he said.