WHY DO I NEED AN INVENTORY?

The inventory outlines not only what is in the property, but also condition of the property itself. Even if the property is unfurnished, you should have an inventory carried out as it will record the condition of the walls, curtains, carpets, bathroom, kitchen appliances, garden and the property as a whole.

 

If a dispute were to arise in relation to deposit deductions, a judge will not look favourably upon an inventory prepared by a landlord. Judges are notoriously favourable of tenants and have been known to favour tenants over landlords unless there is solid evidence in support of the landlords claims.

 

Every rented property should have an inventory which has been prepared by an independent inventory clerk. Our clerks will go through your property and note every detail. The reports will then be provided to both you and your tenant, at which point the tenant will have 7 days to agree and sign or provide additional comments to the report. The final draft will then be used at the end of the tenancy when the tenant checks out.

 

At the start of a tenancy an inventory clerk will prepare an Inventory and Check-In report and at the end of the tenancy, a Check-Out report. These are three vital documents that a landlord should have for each property. An inventory should normally last up to 5 years, but can be updated with every new tenancy at the landlords request. The inventory is the property manual and is then used for all subsequent check ins and check outs.

THE DEPOSIT

Since April 2007 privately rented properties with AST’s are required by law to have the deposit insured and registered under a government approved scheme. This was introduced to prevent landlords from unfairly withholding tenant deposit monies at the end of the tenancy.

This is an important piece of legislation and works hand in hand with having a professionally prepared inventory.

There are 3 Government approved schemes:

  • Deposit Protection Service (DPS)

  • MyDeposits

  • Tenancy Deposit Scheme (TDS)

If the deposit is not registered in one of these schemes then the deposit is not legally insured.

EVIDENCE REQUIRED IN THE EVENT OF A DISPUTE

• Signed tenancy agreement

• Inventory and Check In report signed by the tenant(s)

• Check Out Report

• Any supporting photographic evidence

• Any relevant invoices, receipts & estimates

Failure to compile a detailed independent Inventory at the start of the tenancy will likely result in the tenant automatically receiving the deposit back in full, regardless of any damage caused by the tenants during the tenancy.