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Inventory

The Inventory

On the day the tenant moves in, both the tenant and the landlord will be expected to agree the exact condition of the contents of the property. All parties will initial each page and sign it. Each party will have a copy of the signed document. This should avoid any unnecessary disputes about any damage that may be caused by the tenant during the tenancy

What is an Inventory and Schedule of Condition?

This is one of the most important documents in the letting process. An Inventory and schedule of condition is full list of items within a property. Often mistaken for a ‘furniture list’ an inventory crucially contains so much more detail. Accurate recordings are made at the commencement of a new tenancy showing the condition of all fixtures and fittings, walls, flooring, ceilings, paintwork, cupboards, windows, doors, appliances, gardens etc… It should also include any existing cosmetic blemishes, such as peeling wallpaper or flaking paint. It is therefore important that your property has an inventory even if it is unfurnished. Ideally the inventory should be carried out by a professional inventory clerk.

Why is having an Inventory so important?

A professionally prepared inventory can often become a landlord’s best friend. April 2007 saw the introduction of new government legislation requiring landlords to place tenant’s deposits within an approved and designated scheme. All of the approved schemes have made it clear that in the event of an end of tenancy dispute in respect of damage to items or property and the lack of an inventory, then any decision would be likely to favour the tenant.

When given to the tenant on move in, the inventory effectively becomes a contract between a tenant and their landlord. The tenant will have an opportunity to observe the content of the inventory and to offer their comments on the condition and the items recorded. Tenants are required to acknowledge receipt of the inventory therefore protecting the landlord against unauthorised damages and dilapidations. On the day the tenant moves in, both the tenant and the landlord will be expected to agree the exact condition of the contents of the property. All parties will initial each page and sign it. Each party will have a copy of the signed document. This should avoid any unnecessary disputes about any damage that may be caused by the tenant during the tenancy Comments on cleanliness are noted at the commencement and check out of each tenancy, the provision of the inventory will provide an accurate basis to support any potential claim.

The Check Out Report

It is important to recognise that a rented property is a property that has been ‘lived in.’  There will be an element of ‘wear and tear’ Our inventory clerks will determine if in their opinion that wear and tear is fair and whether it then becomes tenant liability or landlord maintenance. The inventory clerk works only on facts and will report those facts accordingly. Should the tenant or landlord dispute the content of the findings then independent arbitration is available through the designated scheme chosen to lodge the tenant’s deposit.

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