Tue 01 Nov 2016 View all news articles

The importance of an inventory

There is a common misconception with inventories, where most landlords think they only need to be carried out on furnished properties. It is easy to see why, as most inventories in other industry sectors mainly list items. So a manufacturing inventory for instance will list the stock and equipment of a business, but not the condition of the premises.

A lettings inventory is all about condition – the condition of each room, the floor, walls, ceiling, doors, windows and fixtures & fittings etc. Not just a list for the furniture and appliances in a property.

All the current tenancy deposit schemes state that an inventory or schedule of condition is essential to prove the condition of a property at the start of a tenancy. If there is any dispute of a tenancy, the only way of claiming any dilapidations or cleaning costs from a tenants deposit is to have some type of conditional report from the start of the tenancy. Without this any TDS (tenancy deposit scheme) will almost certainly rule in the tenants favour, as essentially the deposit was theirs in the first place and no evidence could be offered to substantiate a claim.

The inventories we produce are extremely comprehensive, stating the condition of every surface in a property. A typical inventory for an unfurnished 3 bed semi-detached house is made up of about 50-60 pages of photographs & detailed description. They are carried out using state of the art mobile inventory software on ipads and an average inventory takes around 2-3 hours to complete.

Landlords do not need to take out our style inventory and can carry out their own, but any conditional report will still need to be comprehensive. Just listing items or surfaces without stating their condition could potentially be costly at the end of a tenancy.

If you need any clarification on inventories, simply contact our Heswall Lettings branch and we will be delighted to help.

As leading Wirral estate agents and lettings agents we have plenty to talk about and like to give our opinions on a few things too! Read about what we have to say, our latest news and industry news.