 Why is an inventory report important?

Landlords wish to protect themselves from the costs of potential misuse of, or accidental damage of their properties by tenants. Tenants wish to protect improper deductions from their deposits at the end of a tenancy. An agreed inventory carried out by an independent inventory clerk should ensure proof and evidence of the condition of a property at the start of a tenancy. At the end of a tenancy landlords and tenants are able to rely on the report as an agreed and definitive basis of comparison of the property.

 When sould the inventory be cross-checked?

It is common, and advisable, for landlords or agents to make regular inspections when managing a tenancy. Inspecting on a quarterly basis (every 3 or 6 months) to compare the inventory with the current condition should be perfectly acceptable to both parties. It’s important to remember that a tenant needs 24 hour notice in writing before an inspection is made.

  Why Landlords Should Hire Independent and Unbiased Inventory Service

• Guarantees a high quality inventory services from independent clerks who work on a daily basis to produce documents that, in case need arises, will be useful in settling disputes among the concerned parties before the matter is taken to court.
• Preparation of high quality documents crucial while making insurance claims. All insurance service providers usually ask for a professional independent document prepared by the unbiased inventory clerk for them to assess your claim

• Saves time and hassle as all the necessary services required are prepared by professionals who understand their work well and with experience to provide a keen eye on the condition of all the items in your property. This saves money too in the long run. complete

 Should i bother creating an inventory for an unfurnished property?

The short answer is yes. Even if a property is deemed as unfurnished, there will still be items that can be damaged and costly to replace e.g sinks, carpets, condition of walls etc. Consequently, it is still crucial to have a detailed inventory. 

 What the difference between a property inventory and its schedule of condition?

A property inventory is the catalogue of a rental property and all its contents. The Schedule of Condition is a record of the condition of all these items.  Usually the property inventory and Schedule Condition are combined into a single report, so therefore referred to as either, or both.

A property inventory / Schedule of Condition has several functions:

• it is a catalogue of the property being let
• it records the condition of the property and any items that are included in the tenancy
• it forms part of the legally binding contract that is set out in the tenancy agreement between the tenant and the landlord.

 The final inventory check at the end of tenancy 

Ideally, on move out day the landlord should do a final inventory check. The inventory must be checked and agreed with the tenant before the deposit being returned.

It’s imperative that the inventory is checked immediately before the tenant leaving, so there can be no argument about any damage occurring after the tenant has gone. The deposit should only be handed back with in 7 to 14 days if there are no outstanding issues when the inspection is complete.