An inventory and schedule of condition is a vital document in the process of letting a property it is the only way to evaluate the state of the property at the beginning of the tenancy. It is therefore the only way to assess how much disrepair or damage has taken place and how much is attributable to the tenant.
An inventory should be prepared every time a property is let. It should be a factual as possible and should be independent of the landlord and tenant and should be prepared without influence of either party. During the tenancy the property will change and probably deteriorate this is inevitable. A level of wear and tear will take place during a tenancy and is to be expected e.g carets will wear. However, damage can also take place, e.g a tenant can spill coffee on a carpet. This is beyond wear and tear and is regarded as damage.
So, how is it possible to decide at the end of a tenancy
What deterioration has taken place? How much of that deterioration is fair wear and tear, and How much is due to carelessness or worse for the tenant?
It is likely that a landlord will ‘remember’ the carpet as being almost new when the tenancy started. The tenant, however, will be adamant that the coffee stain was there when they moved in. Without an accurate of assessment of the property and the contents at the beginning of a tenancy, it would be impossible to arbitrate between a landlord and tenant on such issues.
There are other essential pieces of information that are captured within an inventory such as meter reading, keys provided etc.
We prepare a detailed full inventory and schedule of condition for all our clients on either a full management or tenant find only basis. A standard inventory costs around £60 for a 2-4 bed property on an unfurnished basis. This includes a check in procedure which is when the tenant goes through the inventory with us and confirms the inventory before they move their possessions in. On a full management basis a check out is also included (for tenant find only an additional charge applies to check outs), on check out we will check the original inventory with the current state and make comments accordingly. A report is prepared after check in and check out.
If a landlord does not have an inventory prepared correctly even if a property is unfurnished they will have no proof of the condition at the start of the tenancy and if a landlord wished to make a claim for damage, they would not be able to do so with no proof. This is vital when it comes to deposits that are protected under one of the government schemes which offer arbitration, with a correctly produced Inventory they will have necessary paperwork and evidence to ensure a swift decision.
Inventory Service for non clients
We offer this same inventory service to non clients should landlord wish to manage a property themselves. Prices vary on the size of the property and whether furnished or unfurnished. Please email for a quotation firstname.lastname@example.org