By now you are probably aware of the law passed on 25th May bu the E.U. Commission regarding data and privacy.
But how does it apply to you as a Landlord, and what steps should you really be taking?
GDPR is a minefield for any job that handles customer data, including being a landlord. Everyone needs to be aware of the new data protection regulations to avoid being on the receiving end of a hefty fine- up to €20 million, meaning learning these as a start could be a very big help:
It would be beneficial to create a spreadsheet containing all of the details to keep track of where your data is stored, how and where it is transferred, just to show that you’re doing something about it and following some known regulations even if you don’t fully understand it yet. Keep this constantly updated.
You shouldn’t be sharing data with others that aren’t as careful as you are regarding privacy. As a data controller, handing out information to the wrong hands or 3rd parties who are not compliant means you both get penalised. Check and double check that everyone involved is following the rules.
Customers now have the right to be forgotten, and data retention is a very important change in the GDPR guidelines. Old data isn’t as useful or effective as new data anyway so cleaning up your data records can be a pro for you and the data subject.
This isn’t an exhaustive list, these are just a number of tips to start looking at which will help demonstrate your willingness to become compliant. There is a LOT more to the GDPR and we don’t expect any of you to become experts solely from reading articles online about what you should and shouldn’t do.
Of course this article can be no way seen as legal advice. This article is for general information purposes only.
We shall not be liable for any damage (including, without limitation, damage for loss of business or loss of profits) arising in contract, tort or otherwise from the use of, or inability to use, this article, or from any action or decision taken as a result of using the information in the article.
While it may prove costly, hiring a specialist to advise you on your policies and practices can potentially save you a lot of money and reputation in the long-run.
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