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Use of New Technology in Inventories could cost landlords £’s

Tags:
  • landlord,
  • Landlord Software,
  • letting agents,
  • management,
  • property,
  • Property Inventory Management,
  • Property management

An interesting story below on Landlordzone from the AIIC supports No Letting Go’s policy of detail first, technology second. Read on……

The use of technology in inventories could end up costing landlords far more than they bargained for, according to The Association of Independent Inventory Clerks (AIIC).

The perception of inventories by some lettings agents is that inventories can be very long, time-consuming and somewhat of a laborious process, resulting in several landlords and management companies opting for the use of technology in inventories, believing it will save them time and money.

The use of technology in inventories claims to help landlords and management companies to complete inventories in a matter of minutes, with the ability to add large quantities of photographs which can provide evidence in tenancy dispute claims.

In reality, whilst some systems are considerably better than others, most technology, including digital photography, does not allow for the inclusion of sufficient detail to provide indisputable evidence of original condition at the start of a tenancy.

For this reason in many tenancy dispute cases according to The AIIC, the adjudicators have thrown out technology-based inventories, as they cannot deliver the level of detail required which means that the landlord can lose hundreds of pounds in lost cases.

Pat Barber, Chair of The AIIC, comments: “Inventory reports should contain a full description of a property and its contents with details on every bit of damage and its exact location at the start of a tenancy. As an inventory is a binding legal document that provides a complete record of the condition and contents of a property, it is only effective if it is accurate.

“Without an accurate and properly detailed inventory, a landlord has no evidence to prove that the property has been damaged in any way during the tenancy and therefore will find it almost impossible to withhold any deposit money from the tenants.

The AIIC is committed to excellence and professionalism in the property inventory process and works hard to ensure that all landlords, tenants and letting agents understand the importance and benefits of professionally completed property inventories.

The aim of the AIIC is to ensure that every landlord, tenant and agent in the UK is aware of the importance of the inventory process and the benefits of employing an independent, professional inventory clerk.

Nick Lyons commented on the above article saying “No Letting Go believe technology is critical to improve the speed of the inventory, aid in management of paperwork and to help reduce costs, but not at the expense of the detail of an inventory”

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