Inventories: common mistakes!
An inventory records the condition of the property prior to the tenant moving in and lists all the items in the property that belong to you, the landlord. If we carry out a let only or managed service, we will organise the inventory for you and your tenant.
The purpose of the inventory is to ensure at the end of the let, the tenant hands the property back to you in a similar condition to when they rented it, bar some wear and tear. In addition it’s a check to make sure everything you originally let the property, for example a cooker or window blinds and all the contents in the property it originally had.
Since the introduction of third party deposit schemes, inventories have been a ‘must have’ as they are now used as the main evidence if there is a dispute as to whether you keep any of the deposit or not to pay for damage to the property or items which are missing.
If we just find you a tenant, but you let and manage the property, then it’s essential to get the inventory organised, or you can instruct Your Move to do it for you.
According to The Association of Independent Inventory Clerks there are several errors landlords make when organising an inventory which can lengthen disputes or mean you don’t get to keep any of the deposit. Examples are not making a thorough list, so missing that there were stains on carpets or marks on walls. A good way to avoid this is to make sure you take photographs, so there is no question about the condition of the property at the end of the tenancy.
Pat Barber, Chair of the AIIC says “All too often landlords omit in their inventory the condition of the bath fittings like sinks, toilets and showers; kitchen units; floor coverings; interior décor; and garden.”
At Your Move we make sure the inventories we do on yours and the tenant’s behalf are thorough so that on the day the tenant leaves, it is already clear for both parties to know whether there is a problem or not and we agree how much repairs or replacing items will cost.
A good quality inventory can save weeks of unnecessary disputes and upset at the end of a tenancy.
Find out more about letting with Your Move here.
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