Another hoop for landlords to jump through
With GDPR (General Data Protection Regulation) governing how we all collect, process and store personal data, landlords now need to go online and register with the Information Commissioner’s Office (ICO).
For those with a Managing Agent, answering a few questions online will most likely result in an “exemption” and no fee to pay. However, for peace of mind, it is advisable to get that exemption. The penalty for not joining when you should can incur a fine of over £4,000. Joining fees start at £35 per annum.
Certainly, for private landlords not engaging an Agent, it would appear to be a necessary expense. For example, if you undertake referencing and take the employer’s information, bank details, or hold copies of passports etc you will need to join the ICO.
If no agent is involved, you must also give your incoming tenant a basic “privacy policy” outlining what information will be taken, how and why it will be used, and for how long it will be held by you (five years after the end of the tenancy is the rule).
Please log onto the ICO for further information >
For further information please contact our lettings team >
