While life in Petersfield is quite enjoyable for many people, there are still many challenges to overcome. It may be that your line of work causes you a few difficulties and if you are one of the many Petersfield landlords, this is the case.
Many landlords have found the role tough in recent years, and a lot of this is down to the ever-changing requirements of the position. Any landlord who thought 2018 was going to be a straightforward year should be aware that the introduction of the General Data Protections Regulation, or GDPR, in May of 2018 is relevant to their business.
This is not regulations solely focused on landlords or the rental sector, but it will have an impact. If you are a landlord in Petersfield, it is essential that you are aware of the new regulations and that you make sure you comply with these regulations.
GDPR will require landlords to change their business activities
GDPR will lead to landlords having added responsibilities with respect to the way that they create data, how the data is handled and how the data is stored. It is likely that GDPR will impact on the working practices of Petersfield landlords, so be prepared to do some things differently.
One of the key areas where GDPR will bring changes is with respect to obtaining consent from clients. Landlords will no longer be able to use blanket clauses to collect data from tenants. There will be a need to:
- Offer clear instructions on why you are collection data
- Provide instructions on how data will be used
- Ensure the tenant is satisfied with the way data is collected and why the data is being collected
These are the key components of GDPR and if you meet these elements, you will be well on your way to fully complying. The main phrase used in promoting GDPR is “clear, affirmative action” and landlords are advised to ask for a signature from their tenant when they are collecting data. This will act as a form of proof that the tenant is happy to provide their information.
GDPR is relevant to data Petersfield landlords already hold
GDPR also applies to data that has already been collected which means Petersfield landlords are advised to review the data they hold, and how they obtained this data. If you feel that you need to update this information or provide the tenant with fresh instructions on why the data is being collected, you should do so.
It is likely that some tenants will think GDPR is too much work for no return, but the penalties involved with the process should persuade landlords to take the matter seriously. Fines of up to 4% of the landlord’s annual turnover can be imposed, which is enough to make landlords sit up and take notice.
If you are a landlord in Petersfield and you would like assistance in running your business, please contact Williams of Petersfield. We aim to provide concise and useful advice that helps you provide the best service to your tenants and clients.