As the rental landscape continues to evolve in Australia, staying compliant with new and changing data retention laws is more important than ever. Here at InspectRealEstate, we understand that navigating these regulations can be challenging for real estate professionals managing vast amounts of applicant data. To help you stay in line with new state regulations, we’re rolling out updates to our Data Retention Policy that apply to customers nationwide.

These updates were originally developed to comply with new legislation in South Australia, but as other states introduce similar data privacy laws, we are implementing these changes for all customers across Australia. Here’s a look at what’s changing, how it might impact your workflow, and what actions you may need to take.

Key changes to our Data Retention Policy

Implementation Date: The new data retention rules will be active in your system by Monday the 11th of November 2024. We advise you to review the details below to ensure your data management processes are compliant.

1. Unsuccessful applications – 60-day retention period

All information related to unsuccessful applications, including uploaded documents and personal details, will be automatically deleted 60 days after submission. This helps to protect applicant privacy and reduce data storage for properties where applicants were not selected.

2. Successful applications – 3-year retention period

For successful applications, data will now be deleted three years after submission. This includes all application information and uploaded documents. By limiting the duration of data storage, you can reduce risks and simplify compliance with data protection standards.

3. Hard deleting application data within 2Apply

We’re also introducing the ability to hard delete applications directly within 2Apply. This feature allows you to delete data as needed to align with the specific retention timeframes set by various states, empowering you to comply more accurately with localised requirements.

4. Data retention for reporting purposes

To assist with reporting, a record of each application’s submission, including basic enquiry information, will still be retained. However, no other data will be kept after the retention period concludes. This enables you to generate essential reports while keeping personal data minimised.

5. Data recovery limitations

Once these changes are implemented, data recovery requests will no longer be accommodated. We recommend downloading and storing any necessary information in a separate system before the retention period lapses.

Recommended actions for approved applications

For Compliance and Insurance: We highly recommend that approved applications be saved into your Trust Accounting software. Retaining these records outside of 2Apply will ensure you have a complete application history for insurance and auditing purposes, without relying on expired data within our system.

What you need to do next

To ensure a seamless transition, here are some recommended steps to take:

• Review your current data practices: Assess how you store application information and plan to comply with the updated retention schedules.
• Download necessary data: Before the policy changes go live, download any data you need to retain beyond the retention period and store it securely in a different system.
• Communicate with your team: Make sure everyone involved in data handling is aware of the new policies and understands how to manage applications accordingly.

We’re here to help

We know that updates like these can sometimes be complex, so we’re here to assist you. If you have any questions about the new Data Retention Policy, please don’t hesitate to reach out. You can contact our support team at 07 3184 8285 or email us at iresupport@reapit.com.

Thank you for your continued cooperation and trust as we work together to protect your data and your business.