The Inventory Process
What is an Inventory?
An Inventory is a vital part of the letting process as it will be used as documentary evidence to establish the condition and contents of a property at the start and end of a given tenancy.
An inventory will contain detailed information about a Landlords property, including the décor, fixtures and fittings, all contents, the garden and any outbuildings. At the end of each tenancy this detailed document enables accurate assessments to be made about damage and cleaning issues chargeable to the tenant.
Should there be an end of tenancy dispute the inventory will be used as the primary piece of evidence by deposit scheme arbitrators or in a court of law.
The Check In
The purpose of a Check In is to ensure that the inventory contents and descriptions are correct at the time that the tenants take on the property.
Ideally, the Inventory Professional would meet the in-going tenant and carefully check through each item on the inventory, noting any changes or additions.
During the Check In, the Inventory Professional would also provide a summary declaration of the condition of the property, list all keys and permits handed over to the tenants and take any applicable meter readings.
The tenant will then sign the inventory and declaration to certify that they are happy with all comments listed. This inventory and declaration will be used at the end of the tenancy to make detailed comparisons about any changes – ie. damage caused, cleaning required or replacements necessary at the tenant’s expense.
The Check Out
The purpose of a Check Out is to conduct a detailed inspection of the property at the end of a tenancy, assessing and noting any damage or cleaning issues, and checking for missing items. An Inventory Professional would also note the of returning keys, ensuring that these are the same as were given at the Check In, make a note of the tenants contact details and forwarding address before finally making a note of the final meter readings.
Once the Check Out is concluded, a separate detailed report is compiled listing the changes complete with supporting photographic evidence of any serious issues and make suggestions for compensation costs, fair wear and tear or other actions required to return the property to the correct standard.