What is an inventory?
An inventory is a legally binding report. This written and photographic record provides comprehensive information about the condition of a property and its contents.
The inventory is used at the beginning and end of each tenancy. It is the basis of Check ins and Check outs, showing what belongs to the property and its condition. It is a clear and indisputable record for the life of a tenancy.
Unfurnished properties also require an inventory to guard against any disputes over issues involving wear and tear and cleaning. Don’t forget, even unfurnished properties typically contain high value items such as carpets, curtains and kitchen appliances!
The Association of Residential Lettings Agents (ARLA) describes an inventory as “an absolutely essential document that provides a written benchmark, … a necessary investment that helps protect the interests of both landlord and tenant.”
What are the benefits to the landlord?
A formal inventory safeguards your property and its contents, providing independent evidence in the event of any disputed claims against a tenant’s deposit. Inventories are not compulsory, but it is difficult to demonstrate deterioration of a property without records of condition at the beginning and end of a tenancy. Without proof, disputed amounts may be awarded to the tenant automatically.
What are the benefits to the tenant?
Any deductions for damage, disrepair, cleaning or replacement will be made against the deposit held centrally under a Tenancy Deposit Scheme. A formal inventory process will protect against any unreasonable claims or deductions.
Click here to see an example Inventory.