DATA PROTECTION IN PROPERTY MANAGEMENT

Authored by - Asha Mathew                                                                                                                                   

In the business of managing property, the amount of individual data that gets collected and stored, either physically or on the cloud, can get easily overlooked or under protected due to the staggered process of collecting data. For the purpose of transactions and verifications, a whole lot of data like bank account details, address, phone number, aadhar number gets collected and stored. It is important to have a systematic procedure in place for managing this information - collection, storage and destruction too.

Who collects the data?

In a lot of property management organizations, tenant and owner data moves through a couple of hands before it gets stored on the cloud. There have to be procedures in place to make sure that this data that’s collected manually doesn’t get leaked in the process of transfer. Staff who collect data shouldn’t have possession of it for too long. As far as possible, all data should be collected online through a centralized process so that most staff don’t have access to it.

How is the data stored?

In this digital age too, a lot of physical data gets stored in the form of copies of agreements and address proof. It is important that such physical data should be kept out of everyone’s reach. Even the data stored on the cloud shouldn’t be accessible to too many people. The passwords shouldn’t be common with other functions as that could lead to data theft too. It is also important to educate staff handling online data about cyber threats like malware and phishing attacks especially if bank and financial information of clients is stored. Using strong passwords and two step verification process are constantly repeated yet simple methods of avoiding data theft. Encryption and firewalls are other oft repeated processes that should be in place wherever data is concerned.

What’s the process of data destruction?

It is important to have a regular data destruction process in place. Any client data that’s not required for the future should be methodically deleted. This has to be a continuous process in the organization to avoid accumulation of unnecessary database which might become vulnerable to cyber attacks or even physical data leaks.

Are all devices protected?

The use of firewalls and strong passwords may all be implemented in the office laptops but are the other devices that are used on the field equally protected? A lot of information first goes to a mobile phone or tablet on the field before being stored on the cloud. It is important to have proper security in place even on these devices to avoid any instances of data leak or theft.

It is not just important to have a proper data protection protocol in place but it is also important to share it with the prospective customers. This gives them the confidence that their data is in safe hands and that they have nothing to worry. It goes a long way in building trust and confidence about the organization. At Raksha Property, protection of client data has always been a priority.

 

 


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