Large deposits make inventories more important than ever

This article up from Property Drum by Operations Manager for ARLA, Ian Potter, further highlights how critical inventories with schedule of condition report have become.

With such large sums of money at stake, ARLA has called on tenants and landlords to consider the benefits of establishing a comprehensive property inventory check upon the commencement of a new let.

Ian Potter, Operations Manager of ARLA, said, “Deposit disputes can be one of the biggest problems for both parties involved in any rental property, and many potential issues can be avoided if a professional inventory is prepared.

“A licensed letting agent will offer you the best advice on checking to see if an existing inventory is available or whether any extra charges are invoked in drawing up a new document. A true inventory is not simply a list of items in a property – it also includes a description of the condition and cleanliness at the start and finish of the tenancy, enabling one to be compared against the other with clarity and accuracy.

“Photographs are a good support for comments made in a written inventory but should not be considered a replacement for the written word. Photographs which are unsigned and undated generally are not worth the effort, so make sure they are accepted at the outset and again at the check-out stage.”

Ian Potter said, “A well put-together inventory can give both landlords and tenants peace of mind throughout the occupation period. The inventory is not designed to catch tenants out, but rather to ensure both parties are in agreement over the quality of the property being rented.

“If conducted correctly, and agreed by both tenant and landlord, an inventory should form a key point of reference for any deposit-return queries or issues over reported damage. In recognition of the importance of inventories ARLA has its own sub division, the Association of Professional Inventory Providers, whose members have passed an accreditation exam as well as having a Code of Practice to follow.”

For Professional Inventory Management Services throughout the UK talk to No Letting Go, APIP members, who can provide all inventory management services including Inventory, Check In, Propert Visits and Check Outs with full dilapidations reports. Contact us on 0800 8815 366 or contact one of our local offices at www.nolettinggo.co.uk/contact