chrystals
Q A
IN-BUSINESS
Dafydd Lewis
What is your current view of the rental market in the Island?
T
Annexio
Head of Rentals and Associate Director, Chrystals
he Isle of Man residential market remains as vibrant as ever with strong demand for quality rental accommodation. We currently have a wide range of properties on the market at Chrystals that meet the needs of the majority of prospective tenants. However it is important landlords ensure their properties are presented to the best of their ability and priced appropriately. This helps both to minimise any void periods and maximise returns as applicants often have a selection to choose from. The Douglas rental market specifically is still buoyant with Promenade-based apartments that provide easy access to the workplace and local amenities particularly sought-after. Similarly, refurbished two- and three-bedroomed properties with storage in the immediate surroundings of the town, such as Farmhill and Governors Hill, are always in demand and get snapped up very quickly. Although Douglas continues to be a focal point, Chrystals is also experiencing strong demand in our Port Erin office for rental accommodation. Proximity to the airport and schooling is always a priority for families and often holds the key to securing a long-term tenant.
Q A
Joyce Briggs
Head of Risk and Compliance, Annexio
How do businesses ensure the safeguarding of personal data?
P
rotecting personal data is important in any business, whether it operates online or not. The loss or misuse of private and personal information brings financial and reputational risk, not to mention a highly negative impact on customer trust and loyalty. For businesses such as Annexio, which is licensed to operate its lottery betting services in both the Isle of Man and the UK, there are two sets of regulations that apply: the Isle of Man Data Protection Act 2002 and the UK Data Protection Act 1998. Both require anyone who holds your data to process it correctly in accordance with certain rules and also allow you to access information held on you by any business or organisation. Besides these current Acts, a new General Data Protection Regulation (EU) 2016/679 (GDPR) has recently been adopted by the EU and is in transition to come into force fully on 25th May 2018. This places more demands on businesses and other data controllers to safeguard personal information including more stringent record keeping. At present GDPR applies to the UK although the Brexit decision introduces some doubt as to whether this will still happen. Even if the UK leaves the EU within that timescale, it is likely that the requirements of the GDPR would be reflected in UK legislation. Of course the Isle of Man is not part of the EU at all, but it is expected that Isle of Man Data Protection regulations would also be updated in line with the EU regulation to maintain the current equivalency.
agenda
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