Getting your inventory right

Mon 24 Aug 2015

If you are letting out a property or multiple properties it is imperative you get your inventory right.

Landlords at the start of the tenancy should compile an inventory of everything included in the house, from beds to kitchen equipment and also their condition on moving in day.

By getting your inventory right you can compare the condition of the property at the end of the tenancy to decide whether there is reasonable cause to make deductions to the tenant’s deposit.

For example, if you have detailed the condition of all the carpets before the tenant moved in, and on check-out there’s a big iron mark on one of the carpets, the Landlord would be able to deduct the cost of replacement from the tenant’s deposit.

If the tenant doesn’t receive a full inventory however, or one that is sufficiently detailed, at the start of their tenancy that states the property’s condition, then they may be unaware of how the property should be left at departure.

Having the paperwork available will help to resolve any disputes about deposit deductions through the dispute resolution service which can be costly and stressful.

To make sure the inventory is done right, landlords or agents can hire an inventory company to do the inventory for them. However, if you want to save on costs you can also do it yourself.

My Deposits have compiled an ‘ins and outs of inventories’ guide for Landlords and agents so that they are able to carry out the inventory themselves.

The guide provides comprehensive details and also expert advice from National Landlords Association and the UK Association of Letting Agents. To get the guide click here: https://www.mydeposits.co.uk/