This week Paul Shamplina, founder of Landlord Action and celebrity in the field of property, took to the Direct Line for Business blog to discuss the importance of getting your property inventory right. In this piece Paul discusses the need for property inventory services and recommends No Letting Go, explaining that the cost of the package is easily outweighed by savings and benefits. Paul also shed some light on the need for quality inventories and outlines what a landlord really ought to know. We’ve put together a few of his key points here for you.
Paul Shamplina writes about how landlords can ‘save a great deal of time and hassle’ by using property inventory services like No Letting Go. The benefits put forward by Paul centre upon the professional expertise and advice as well as the protection that comes with the impartiality of our service. Paul does rightly highlight the need for landlords to be selective in their choice of services, only opting for companies that are a member of The Association of Independent Inventory Clerks or The Association of Professional Inventory Providers. Paul ends his discussion of the topic with a strong recommendation for No Letting Go (a member of The Association of Professional Inventory Providers).
In the video accompanying Paul’s blog, he becomes animatedat the mentioning of this statistic. As a landlord carrying out your own inventory you are ‘exposed to more risk of a deposit dispute’. Paul attributes this to most landlords not putting detailed, correct or required information on the inventory. With an impartial service, this is not a problem that would be encountered.
Paul’s article highlights a topic that we’ve encountered many times. Some landlords are led to believe that an inventory is only needed for furnished properties. Paul reiterates that this is not the right view to take. Decoration and condition of the floors, walls and garden should all be noted in the inventory. Mould and discolouration can appear very quickly if your property isn’t being maintained properly, the inventory will detail this clearly. If you do not include an inventory with your property, irrelevant of furnishings, you are opening yourself up to the potential of losing any deposit costs that you may wish to hold back.
Paul Shamplina goes on to highlight the importance of a mid-term property inspection. This visit is the ideal opportunity for you, as a landlord, to check that the property is being looked after in the correct way. The best time to do this is after at least three months of the tenant being in the property, though this is at your discretion. Don’t forget that by law you are required to give 24 hours written notice of any inspection. We highly recommend that you are flexible with your approach to inspections, this will help take the intimidation factor away from the process.
Are you looking to take away the stress and hassle of writing your own inventory? Get in touch to find out more about our property inventory services.
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