New Data Protection Regulation

 

New GDPR (General Data Protection Rules) coming into effect 25 May 2018. It is relevant to all landlords as fines for not meeting the Data Protection standards can lead to 4% of a landlords turnover or 20 million euros, according to Landlord Law Blog. GDPR will replace the Data Protection Act 1998, which was introduced as a way to implement the 1995 EU Data Protection Directive. As landlords and agents deal with personal information about their tenants and clients, it is important to familiarise yourself with the new rules coming into force. Landlord Today states "With measures such as tenant referencing, it's impossible to be a diligent, compliant landlord and not process some personal data, particularly if you self-manage". In the following simple steps you can become more Data Protection compliant.

 

Make sure you explicitly gain consent for storing information about a tenant or pass on this information to someone else. It's important to treat tenants' information as confidential and locked in a cabinet or safe. For digital data, ensure that your phone, computer and other devices are password protected. Your WiFi network should be password protected and secure. The personal data of tenants should only be kept if it is actually needed. Otherwise, this data should be deleted.

 

For more guidance we reccomned reading the Landlord Today article, 'How does GPDR affect small landlords?' .

Published on 01 May 2018

Source Wonderlease

Written by Marc Cohen

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