From tomorrow a new law will make the consequences of failing to protect personal data for companies and others far more serious.
The General Data Protection Regulation (GDPR), which comes into force on Friday, will be the biggest shake-up to data privacy in 20 years.
The new legislation gives individuals increased rights when it comes to the use, storage and deletion of their personal data. But how does the law change affect you as a landlord?
If you manage your properties yourself, you should firstly ascertain whether you need to register with the Information Commissioners Office (ICO), according to Paul Sloan, Operations Director at Spicerhaart.
He explains that if a landlord holds any of their tenant’s contact details, including their bank account – and especially if they hold a copy of the tenant reference – then it is likely they will need to put steps in place to protect the data to ensure it can’t be accessed by anyone else.
He commented: “These new regulations are particularly important at the end of a tenancy, when a landlord must have a process for deleting all of the data once they no longer have any legal basis to hold it.
“However, landlords that have opted for a fully-managed service are less likely to be impacted. In most cases, a fully managed service means the letting agent deals with the tenant right from the moment they first apply to rent a property, and this continues throughout the whole tenancy meaning there should no need for a landlord to hold any of the tenant’s personal details at all.”