After the recent WannaCry worldwide ransomware attack and as July is Scams Awareness Month, we would like to take this opportunity to remind you of our October 2016 Tip of the Week and add some additional advice so that you can take further steps to help you, your tenants and your business stay aware and, hopefully, safe from scams and fraud, both property related, and generally.
1. Tidying-Up Your Title
You should consider "tidying-up" the Land Registry title to your property and removing any notes, notices, or entries which are no longer relevant. This sets a precedent that the property and the title are being "looked-after". It also assists you, as landlord, to be clear about the rights and obligations that affect your property.
2. General Data Protection Regulation ("GDPR") Assessment
The GDPR is a new EU regulation coming into force on 25 May 2018. It seeks to harmonise the way in which EU Member States process and protect data. As a landlord, it is possible that you will fall within the scope of the GDPR. Companies that are not compliant will face regulatory sanctions and an increasing exposure to compensation claims from affected parties. It would be prudent now to be assessing how you or your company handles data to ensure compliance with these new regulations can be achieved.
Whilst the GDPR is primarily focussed on making sure companies use personal data in a lawful manner, a critical requirement is to ensure appropriate technical and organisational measures to ensure the security of personal data, and from 25 May 2018, in certain circumstances companies will be required to notify regulators and data subjects of data breaches.