Property Inventory Reports
This forms First Part of the Complete Inventory Management Process. Property Inventory Reports are an essential documentary part of any Short Hold Tenancy agreement. This report is an important document which provides a record of the contents, decoration and general condition of the property at the outset of the tenancy period and protects the landlord from any unwarranted disputes at the end of the tenancy.
Detailed property inventory reports provide a description of the property and its contents with a statement of general condition. Photographs are also included of most areas paying particular attention to areas which may be of interest due to existing damage etc within the report for illustrative purposes.
The Inventory Report provides documented and photographic evidence of the condition of the property at the beginning of the tenancy and will be vital in the event of a dispute arising which requires independent adjudication.
Compiling an inventory report and a schedule of condition requires the correct training and experience and should therefore be carried out by professional Inventory Clerks.
Essential information for Landlords and Letting Agents
It is therefore essential for Landlords or their letting agents to fully appreciate that the 3 step Inventory Process is followed at the commencement of each NEW Shorthold Tenancy Agreement in order to safe guard their property, contents from the likely hood of damage or theft.
The Complete Inventory Process consist of an Inventory Compilation, Check-in (with tenants signature of agreement) and finally a Check-Out procedure, failure to follow the Complete 3 Step Process means you are most probably running an extremely high risk of having insufficient documentary evidence in the event of a dispute arising.
Also in situations where there is insufficient, inadequate, outdated or basically NO inventory report compiled, then the adjudicators will consider you to have NO detailed record of the condition of the property at the start of the tenancy.
Which basically means that at adjudication the Landlord or their agent is has LITTLE or NO documented evidence that the disputed damage was caused by the current tenant. Due to the lack of documented evidence, it is most probable the case will be awarded in favor of the tenant and the landlord subsequently instructed to return the remaining withheld deposit.
Check out our property inventory prices or contact us on 07908 540987 or email our our Inventory Clerks to request a call back to discuss your requirements in more detail.