Privacy – Data Security and Disposal Requirement:

Privacy – Data Security and Disposal Requirement

Apartment owners and managers collect, use and maintain significant amounts of personal information through both renter and employee application processes, as well as other operational functions. Personal information typically includes name, address, social security number and driver’s license number, as well as additional information found in leases, financial records, insurance records and other documentation. As technology and business innovation continue to evolve, there is growing concern over the proper protection and use of that personal information. Consequently, there is growing pressure on the government to establish federal privacy policy to protect consumers and hold businesses accountable.

General Information

FTC Guide for Businesses: Enhanced Data Security
The Federal Trade Commission’s five-part guide for businesses looking to establish a sound data security plan. (April 2012)

Six Ways Apartment Firms Can Better Prevent Data Breach
NMHC outlines six measures apartment firms can incorporate into everyday practices to significantly mitigate data security risk. (April 2012)

The Dangers of Data Breach
Jeanne McGlynn Delgado and Amy Beranek provide new privacy guidelines and offer resources to protect against data breach in this article for Multi-Housing News. (April 2012)

Protecting Consumer Privacy in an Era of Rapid Change
The Federal Trade Commission releases its final privacy framework and recommendations for improving business privacy practices. (March 2012)

Privacy Policy & Data Disposal Requirements

NMHC Guidance: FACT Act of 2003
NMHC White Paper detailing new law that makes significant changes to the FCRA, including creating national credit standards and providing new consumer privacy protections. Identifies apartment operations which will be affected. (December 2003)

Final Privacy Regulations: Notification and Disclosure Requirements
Final law that requires covered real estate companies to develop a privacy policy; periodically inform customers of that policy; and obtain permission before sharing consumer information with unaffiliated third parties. (May 24, 2000)

Privacy Regulations: Safeguarding Requirements
Federal law governing steps covered firms must take to ensure the security and confidentiality of customer information. (May 17, 2002)

NMHC Guidance: FACT Act Data Disposal Requirements
Describes federal rules that went into effect on June 1, 2005 that require businesses to shred or otherwise destroy personal information obtained to screen residents and employees. (June 2005)

Red Flags and Identity Theft Regulations

NMHC Guidance: FACT Act Identity Theft Regulations--Red Flag and Address Discrepancy Rules
FAQs on regulations that apply to users of consumer reports, including apartment operators. (Updated May 2009)