Whether you are a managed or tenant find landlord, the benefit of having a professional, independent inventory cannot be understated. There are many things to think about when setting up a new tenancy and the inventory is the document that sets the baseline as far as the condition of a property is concerned. Along with the tenancy agreement, the inventory sets the expectations for all involved parties as to what can reasonably be expected during and at the end of a tenancy.
From both the landlord and tenant point of view this document can be seen as an insurance policy; the landlord has evidence to support any deposit claims that may arise and the tenant is also protected from any party pushing for betterment of a property beyond what was agreed in the original inventory.
In terms of completing the inventory report, it is preferable to have this done by an independent specialist inventory company. This impartiality is incredibly important as agents invariably work for their landlords and landlords understandably can come to see their property in a rose tinted light. As a landlord you will know that an independent report is as water tight as it gets in terms of comeback at the end of the tenancy.
The arbitration services provided by the TDS, DPS and the like will look more favourably on a claim for a property that has a current inventory report in place that has been signed by both landlord and tenant, with independent inventories given even more weight as an accurate representation.
The checkout should also be completed by the same independent inventory company that undertook the original report so that a completely impartial view can be produced on the end of tenancy condition of any given property. It is incredibly important to us that all parties are treated fairly at all times, but especially at change of tenancy when emotions can be running high.
If you have any queries on inventories or on lettings in general, don't hesitate to contact the friendly team at Taylor & Co on 01747 416516 or firstname.lastname@example.org