So, you might think skipping an inventory inspection saves a few quid, but trust us, it’s like skimping on sunscreen at the beach—you’ll regret it later! Inventories safeguard your property.
What’s an Inventory?
Alright, let’s break it down. An inventory lists everything in your property, from the kettle to the curtains. It’s like a snapshot of your place, noting every scratch, scuff, and stain. A top-notch inventory includes snazzy photos of each room, plus detailed descriptions. Here’s what makes up a full tenancy inventory:
The Invenrory itself: This is where you jot down every little detail about your property. Now, you could do this yourself, but why not call in the pros? They’ve got eagle eyes for spotting stuff you might miss, like wonky door handles or missing radiator valves. Plus, they’ll even scope out your balcony or garden— they’ve got you covered!
The Check-in: Time to create a schedule of condition—basically, a report on your place’s state. You can do this when you make your inventory, and it’s cheaper to bundle them together. Get your tenant to sign off on it to confirm it’s spot on. If they can’t sign, no worries—just ask them to flag any issues within a week.
The Check-out: When your tenant jets off, it’s time for a separate check-out report. Compare it to the check-in to see what’s what. Ideally, your tenant joins the fun, but it’s not a deal-breaker. An independent clerk marks any wear and tear, making deposit deductions a breeze.
Interim Inspections: Don’t forget to give your place a check-up now and then. Quarterly or bi-annually is the ticket. Look for any damage beyond the norm, and give your tenants a nudge if things need fixing. Just remember to give them a heads up—24 hours in writing. You can also tick off checks on the CO and smoke alarms too.
Why Bother with an Inventory?
Simple—your deposit. Your tenants might be angels, but accidents happen. Without proof, you’re stuck footing the bill.
If you try to deduct money from their deposit for cleaning or repairs, they can call in the tenancy deposit scheme for backup. Without an inventory, you’re empty-handed. An independent clerk knows their stuff, making disputes a thing of the past.
What’s Fair Wear and Tear?
Think of it as the normal wear and tear you’d expect from daily living—like scuffed floors or faded curtains. It’s all part of the package deal of renting out your place. But proving what’s normal and what’s not? That’s where your inventory comes in handy.
With a detailed check-in and check-out report, you’ve got the receipts to show any changes. Trust us, it’s worth it. Without evidence, you’re boxing with an arm behind your back!
An inventory ranks high on the list of must-have documents for landlords. To steer clear of deposit disputes and safeguard your investment.
The potential for disputes looms large at the start of a tenancy, not the end. Why? Because the inventory must be ready before any tenant sets foot in the property. At check-in, tenants should stroll through the home with the inventory, noting any tweaks needed. Throughout the tenancy, periodic inspections seek out any new damage or maintenance needs. When it’s check-out time, the property’s final state is compared to the initial inventory to decide on deposit deductions. Fail to whip up an inventory pre-tenant, and you’re left empty-handed in the event of a deposit dispute. Inventories play a starring role in the resolution process, speeding things along and minimizing void periods between tenants. Plus, skipping inventory reports might even breach your landlord insurance terms, depending on your policy and provider.
A top-notch inventory report is unbiased and professional. It covers every nook and cranny, inside and out, listing the condition of fittings, fixtures, decor, and contents. Remember, it’s not just about listing items—it’s about describing them, too.
With cleaning disputes making up a whopping 85% of tenant disputes, photos are essential. A quick glance at the property isn’t enough. Descriptions and photos of inside the fridge, the washing machine and even clarity over window cleanliness are essential too.
Both parties should sign off on the inventory before tenants move in, using it as a guide to inspect every inch of the property and make necessary adjustments. And once it’s all agreed upon, the keys are all theirs!
Oh, and here’s a heads-up: many deposit deduction claims get refused if the inventory wasn’t sent to the tenant in a provable way.
As part of the landlord duties, regular property inspections are a must. They ensure tenants are playing by the rules and taking care of the place. Schedule these checks every three or six months, giving tenants a heads-up with a minimum of 24 hours’ notice. Document any issues for future reference, covering everything from missing items to cleanliness and importantly safety items such as smoke detector functionality.