If you are new landlord, you will need to look into how to create an inventory.
What Is an Inventory?
Basically, it is a key list of what is in the property, what condition items of furniture, etc. are in and details of any damage. The inventory acts as your main piece of evidence should you need to withhold some of the deposit.
Reasonable deductions include unpaid rent and costs to cover damage – cleaning costs are the most common reason for a deduction.
So Where Do I Start?
The best thing to do is go round the flat or house room by room and list everything that is in it, their location and (importantly) their condition. Also include things such as plugs and light-fittings. You can take photos if you wish – indeed this can be particularly useful if there is any damage such as a broken tiles or stains.
Make sure you include any garden/outside areas that are considered part of the property.
There are numerous examples of inventory templates available on the internet.
Don’t forget to make a note of any utility meter readings so that bills can be sorted out fairly.
When the Tenant Moves In
It is important to go through the inventory with the tenant at the very beginning of their tenancy. Make sure they agree with everything and make any adjustments if mutually agreed. Once you have done this, get them to sign and date the inventory, give them a copy and keep your copy somewhere safe.
When the Tenant Moves Out
When the tenancy finishes, you should go around the property with the tenant who is leaving and note down any changes to condition of any items, any missing items and any damage that has appeared.
What Is an Inventory Clerk?
Alternatively, to take the strain off you, you could employ someone to do all this for you. These people are known as inventory clerks and will be experienced in this field. For more details as to what they are and what they do, why not take a look at a specialist website such as https://inventorybase.co.uk/blog/what-does-an-inventory-clerk-do-and-should-i-hire-one/ today?
Whichever route you decide to go down, an inventory is essential part of being a landlord and should always be completed at the start and at the end of any tenancy.
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