Importance of an Inventory
Landlords often think they don’ t need an inventory (particularly when a property is empty) or they think they can do the inventory themselves. In our experience as a local letting specialist, it pays to have a professional inventory created for reasons which benefit both landlords and tenants. Belvoir Tunbridge Wells work in partnership with a local firm ‘Gatehouse Inventories’ who we have found to be reliable, thorough and fair. This is what owner, Sarah Williamson, told us about the process of creating a good inventory.
The process of creating a professional inventory
Gatehouse visit the property when the landlord tells them it is ready and complete a detailed report on every room on an industry specific app. They photograph and make notes on the state of walls, floors, appliances and outside space, using 20-30 pictures per room. The report will clearly document any pre-existing issues e.g. damage to a door, marks on a radiator. This is submitted to the landlord, agent and tenant. Gatehouse attend and handle check-in giving keys to the tenants, walking them round the property, discuss the inventory process and read the meters as well as testing the smoke alarms (on behalf of the landlords as this is a legal requirement). Tenants have 7 days post move in to respond to the inventory with comments.
At the end of a tenancy Gatehouse do an immediate checkout and create a post-checkout inspection report. Tenants are welcome to attend this process though it can be lengthy as the inventory clerk goes through the same detailed inspection that they did on check in. Between tenants, an updated inventory is created with all new photos and a note of any maintenance undertaken since the last inventory was created. At this stage what is to be classified as ‘fair wear and tear’ is the issue at the forefront of the inventory clerks mind. Gatehouse attend courses held by The Deposit Service at which such things as ‘what is reasonable wear and tear during a tenancy’ are discussed.
The benefits of a professional inventory
Clarity
Both parties can be absolutely clear when claims for damage to property arise as to whether it has occurred during a tenancy or was an existing problem. Some claims can be expensive, for example, when floor or wall tiles are cracked or if a toilet bowl is damaged, so it pays to have a detailed set of photographs and words that allow a direct comparison of the property from check-in to check-out.
Speed
When there is a clear and detailed inventory it is a deterrent to any false claims made that damage wasn’t caused during the tenancy. This in turn leads to the checkout being easier to complete because there are fewer, if any, disputes to resolve which is beneficial for landlords who can achieve a quicker turnaround on their property.
One agent told Gatehouse that they thought they had reduced the time spent on inventory disputes by 80% because the inventory reports are so thorough and indisputable. It’s a task that requires an eye for detail, documentation skills, experience and training to be done well.
Avoidance of doubt
A landlord may find they have no option but to bear the costs of damage if there is doubt over whether the tenant has been responsible which can be the case with a sketchy inventory.
Often people fail to remember quite what state the property was in when they moved in so they aren’t being deliberately misleading but genuinely can’t remember. Their tenancy may have been lengthy but even after a year, who could remember the original state of a wall or oven? A professional inventory report has this all clearly document beyond any doubt.
Objectivity
Tenants are reassured when the inventory is prepared by a third party that it will equally protect them as well as the landlord. The Deposit Protection Service may well prefer a third party to have created the inventory because they know that it was created by someone independent should there be any query over the return of a deposit. This therefore carries more weight which can speed up any claims process and significantly reduce the chance of disputes arising.
While the cost of an inventory report by a professional third party might initially seem like an unnecessary extra cost, we hope that this summary proves that in fact it can save costs and disputes which nobody wants. With thanks to Gatehouse Inventories – keep up the good work! If you have any questions please do not hesitate to contact our lettings team at Belvoir Estate Agents and Lettings Agents, Tunbridge Wells on 01892 615333 or tunbridgewells@belvoir.co.uk
