We recommend that all our landlords have a professional inventory prepared including a series of photographs so that you have an accurate record to refer to, which will help you avoid problems down the line.
Riley Marshall can arrange inventory services for you Click here for a quote.
1. What is an Inventory?
An Inventory is a useful legal tool for protecting a landlord’s property. It is a list of the contents of a rental property, and usually includes a Schedule of Condition to describe the condition of the contents, decor, plus fixtures and fittings. The best inventories come with photos which are updated each time the property is let.
2. What is an Inventory for?
An inventory is used to prove the condition of the property at the beginning of the tenancy if the landlord wants to make deductions to the tenant’s deposit for damage, at the end of the tenancy.
3. When to Check the Inventory
The inventory is a useful tool if you think an items has been damaged or is missing during a tenancy but the most important time to check it is at the end of the tenancy to make sure all is as it should be. It should be agreed when the tenant moves in, and the tenant should sign it to show they accept the document.
4. Do I need to Update the Inventory?
If the landlord spends money on new furniture, decor or appliances they should attach a note to the inventory and copy the tenant in on the amendments so that it remains an up-to-date record of the contents of the rented property.
5. Settling Disputes
If the landlord wants to make deductions from the tenant’s deposit, and the tenant disputes the deductions then the case can be referred to a Dispute Resolution Service. In this situation the inventory forms an invaluable element in the landlord’s evidence especially if there is a photographic record too.
6. How to Prepare an Inventory
We would recommend that a landlord should employ an inventory clerk, who is experienced in preparing Inventories in order to be most effective for the landlord. Riley Marshall can organise this for you if you would like one. Click here to get a quote or book an inventory.
Did this answer all your questions? If you need more information please get in touch with our letting department, or you can read more in our blog article, What is an Inventory?