A property inventory must be completed before keys are handed to new tenants. Professional landlords and tenants alike need to be aware of the importance this document plays in establishing a tenancy.
It is the only way that a landlord can legally invoice for any damages or losses incurred during a tenure, and it is the only way for tenants to show they were not responsible.
We explain what an inventory is and how to make it more thorough. You can also find a printable landlord inventory template through Rentaldocs…
What is a property inventory?
A property inventory is a document that details the condition of the property and its contents. It includes everything from the age of your washing machine to the condition of your paintwork. This comprehensive report is designed to protect properties and prevent deposit disputes.
The assessments are done twice: one at the start of the tenancy, and another at check-out. It is helpful to have one completed and signed by both the landlord and tenant. The likelihood of a dispute over a stained or cracked carpet or sink is much higher if there isn’t one or it isn’t signed by both tenants and landlords.
Why is it important to have property inventories?
It is important to have a complete and objective inventory for many reasons.
Both landlord and tenant can get a clear picture of the property’s current condition by conducting a check in inventory
A check-out inventory is required at the end of each tenancy. Both reports can easily be compared.
Any discrepancies can help determine the amount of deposit to be returned. This reduces the likelihood of a deposit dispute
A fair and accurate inventory can be used to support a deposit dispute that is based on this assessment. This expedites the resolution process.
An inventory can help you identify the areas that require attention and who is responsible.
These details will allow tenants to understand how the property should look and what condition it should be returned.
Inventories protect both the landlord’s investment as well as the deposit of the tenant.
The inventory can be used by all parties to distinguish between damage or expected wear and tear.
Trust between landlord and tenant is built by following the right guidelines and communicating at all stages of the process
What information should be included in an inventory of property?
It is a good idea to keep inventories for all rental properties regardless of whether they are furnished or unfurnished.
Both should list and describe the conditions of the following rooms room-by-room.
Furniture, curtains, carpets, vinyl, and laminate flooring are all included.
Fixtures and fittings include doors, handles, locks and banisters as well as bathroom suites, kitchen cabinets, taps, and sinks
Interior decor includes paintwork on walls, ceilings and window frames and sills. Skirting boards, staircases, and door frames are all examples of interior decoration.
Avoid areas that are prone to dampness and what you can do to minimize it
Expected standard of cleanliness
Items like alarm and intercom systems and smoke alarms, CO2 detectors, and fire extinguishers
Gas appliances include ovens, stoves, boilers, and radiators.
Exterior items like fencing, paintwork and satellite dishes, plants, trees, lawns, sheds, garages, and aerials, as well as exterior items like fences, paintwork and satellite dishes, aerials, and satellite dishes, and plants and trees.
It is highly recommended to include photographs, preferably digital, where the date of their capture can be verified. These photos can be used to support a claim for end-of-tenancy.
You can also include proof of mandatory gas safety checks and confirmation of the Energy Performance Certificate in your inventory.
An inventory should include a declaration page at its end to allow signatures from all parties.
How to effectively use a property inventory
It is a good idea for landlords to make an inventory before the tenant moves into their property. It is more likely that accidental damage will occur during check-in and check-out when personal belongings are being moved in. Therefore, it is important to have an accurate record of the property’s condition prior to moving in.
Tenants should check in using the inventory. They should cross-reference every point and notate any differences. This will ensure that any undocumented damage to or defects they find won’t be their responsibility on check-out. This is also an opportunity for the landlord to join them in ensuring that nothing is missed.
Once both parties have verified that the inventory has been accurate and complete, they can sign it and hand the keys to the tenant. Do not underestimate the importance and necessity of adding dated signatures. Many deposit claims are denied because the inventory was never signed.
Regular inspections by landlords are necessary throughout the tenure to check for damage not listed in the inventory report. In case of a need for evidence, landlords should document any issues and inform the tenant.
With four weeks before the end of tenancy, landlords should remind tenants about their responsibilities and allow them to resolve any problems.
Both parties must be present at check-out when the inventory and current condition are compared. You should also prepare a second report detailing the areas that require attention. This report should be divided into sections so you can clearly see who is responsible for each section.
You should pay attention to cleanliness, damage, missing objects, gardens, keys, and meter readings. New photographs can be taken to compare them with the ones from the beginning of the tenancy. These photos should be embedded in the report.
Once the inventories have been completed, it should be possible to identify any deductions from the deposit.
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