Landlords and estate agents who need a third party to supply an inventory report at the start and finish of a tenancy are keen customers of property inventory services.
Given the demand for such services, it is vital that thorough property inventory training occurs.
What Happens at Check-in and Check-out?
Check-in involves the production of a detailed inspection checklist noting all furniture, fixtures and fittings in the property at the start of a tenancy. When the tenancy finishes it will be used at check-out as a comparison to check the condition of the items listed.
It’s vital to consider every last detail: you are creating documentary evidence in case anything goes wrong. The inventory should work logically around the accommodation. Makes of appliances can be noted to assist with estimating costs, and photographs are advised. Any outside space should also be listed.
The check-out report will map any deterioration in the property’s condition during the tenancy. The person who undertook the check-in should be present where possible, and a properly compiled report will agree upon areas that are the tenant’s responsibility.
Tenants need to be there at both check-in and check-out so the fine detail can be agreed upon and they are aware of their obligations. The inventory needs to include meter readings and testing of locks and alarms. Don’t give out the keys until everything is signed and you have the deposit and a month’s rent in advance. A deposit may be held back in the event of rent being owed, damage occurring or the need for extensive cleaning.
The Importance of Training
Creating an effective inventory and following official procedures are vital to avoid misunderstandings and financial loss. Comprehensive property inventory training ensures that all processes go smoothly. Professionals who are accredited with a bona fide scheme and follow current rules and regulations are in great demand.
Tenancy Deposit Schemes
Landlords must keep their tenants’ deposits safe in an accredited scheme until the tenancy ends. In the event of a dispute, a court or adjudicator must decide who pays. In 2017 the Tenancy Deposit Scheme confirmed that deposits worth up to £13,864,534 were disputed, showing the significance of getting the inventory report right to avoid arguments.
Tenancy Deposit Scheme rules are here: https://www.tenancydepositscheme.com/wp-content/uploads/2017/04/A-guide-to-check-in-and-check-out-reports-inventories-and-schedules-of-condition.pdf.
