You’ve no doubt heard about GDPR but as a landlord you may be wondering how or even if this new regulation affects you. Well, the simple answer is yes, it does affect you and it’s crucial that you know how to avoid any costly penalties.
Firstly, what exactly is GDPR?
The General Data Protection Regulation (GDPR) is a European law that aims to protect consumers and strengthen data protection for all individuals in the EU. The changes were necessary as the previous data protection regulations hadn’t been updated since 1995. As technology has rapidly progressed since then, it was clear that alterations were needed.
As of 25th May 2018, compliance with this act is compulsory for businesses and landlords. Failure to do so could result in fines of up to €20 million. It’s therefore crucial to ensure you are fully compliant, so, we’ve put together the following tips to help.
1. Organise all of your tenant data
In you’re ever investigated by GDPR you’ll have to supply the investigators with any tenant data you have. This must include evidence of how and why you obtained it. Storing this information in an organised system means you'll have the means to easily provide it if necessary.
The new law also stipulates that you must supply people with the information you have about them when requested. Therefore, if a tenant asks for their data, you have to provide it within one month free of charge. What is personal data? Any information that could be used to identify a person. For example, their name, telephone number or IP address.
2. Ensure the data you have is protected
What measures have you taken to make sure no one could leak, hack or steal the personal data you have for your tenants? Organisation is only the first step towards making sure your levels of data protection fit the standards required by GDPR. If your files are in hardcopy, you must ensure this data is contained securely.
Similarly if your data is stored digitally have you enabled anti virus software, is it in the cloud? If your hard drive is stolen are you able to wipe the information so the data cannot be uncovered? If you have taken the necessary precautions, be sure to record the safety measures you have put in place.
3. Write a Fair Processing Notice
Before you obtain information from your tenant, they must be fully aware of what you are going to do with that information. By creating a declaration of how you intend use the data, you will be fulfilling another element of GDPR.
When you do ask for information, your tenant should be able to access a clear Fair Processing Notice. GDPR regulations state that this document should be free from legal jargon that could be ambiguous. The notice should answer questions as to why it’s being collected, how it will affect them and how the information will be used.
For more information and a template to help structure your processing notice click here.
4. Keep your housekeeping up-to-date
If a tenant has moved out or they’ve asked you to delete their data, it is vital that you do so. If you have no reason for keeping their information, you must delete it as securely as possible. You are no longer permitted to hold onto information unnecessarily.
5. Have they positively opted in?
Previously, customers and tenants had to physically opt out of a subscription or emails. However, under the new laws it is now the opposite. To give tenants information, whether it is through the post or email, you must have proof that they positively opted in to receiving your correspondence.
A common example of a compliant way of requesting tenant data is to provide a box for them to tick if they are happy for their data to be used. If you fail to prove that the tenant has agreed to the use of their data, you could receive a fine of up to four percent of your annual turnover.
Does it affect me?
GDPR effects all businesses inside the EU. Even if you reside outside of the EU but own property inside the EU, your GDPR responsibilities still stand.
As a landlord, if you are still unsure as to whether you are taking the correct precautions, it’s advisable to contact either your local authority or your regional association of landlords. They will be able to assist in terms of the compliance steps you will personally need to take.
If you’re a landlord looking for assistance, we’d be happy to help. Simply call us on 01925 499599 or pop in for a chat.
