New IRPM white paper: how data ethics will impact residential property management

The IRPM brought together a group of leading industry experts to discuss the way in which data is now being used in residential buildings and the ethical questions this raises for the property profession. How can we better regulate and manage that technology to ensure it is used in an ethical way while still giving homeowners and renters quick and easy access to the digital revolution that is transforming all our lives?

The white paper captures this conversation, highlighting the ethical challenges now being faced and sets out next steps for the property management profession.

Key points are that:

• Property management firms must be alert to function creep. Conversations with software providers must include questions around data harvesting and re-use.
• Property managers must be alert to the triggers for data misuse and ensure that staff are aware of ethical best practice within their own businesses.
• Development of property-purposed professional ethical standards is a priority for the industry.
   

To address these challenges, the paper pinpoints the need for:

• A platform for tech and software providers, end users and the property industry to come together to discuss data ethics.
• Cross-industry collaboration will be needed to determine what is needed  to develop a meaningful framework for data standards.
• Industry engagement with the Real Estate Data Foundation which is connecting cross-sector initiatives.
   

Launching the White Paper today, Andrew Bulmer, CEO of IRPM said: “We are sleep walking into a data abuse crisis that could seriously damage trust between property managers and residents. The same data that will underpin great customer service and Dame Judith’s Golden Thread is also a fantastic resource to be mined and monetised by the unscrupulous. Managers and software firms need to collaborate right now, so that people’s data is not used against them, with property managers the unwitting accomplices.”

To read the full white paper please click the link below.