Having an inventory is not only worthwhile for peace of mind; it also protects both the landlord and the tenant or tenants in the case of disputes over damage, loss to the property or its contents.
Conflict between tenants and landlords is an unpleasant experience for all involved and can cause stress and anxiety on both sides. A professional inventory can make the process quick and as painless as possible as the evidence is easy to access and non-disputable. The benefit of having an independent inventory is that it isn’t biased toward any particular side. In the case of legal proceedings, it will be a key piece of evidence and can greatly speed up the process and conclusion.
Condition of the Property
An inventory can provide a detailed report of not only the contents of a property, but the overall condition of the property and any contents, such as furniture. Specifics that might be noted are whether there are chips, stains, marks or scratches. Other things to note include specifics such as whether everything is in full working order, if windows and doors shut properly, whether there any condensation issues, if the oven and hob are working efficiently, if the plumbing is working properly, whether the outside areas are clear from debris and passable, and if fences and outside walls are in good condition and able to withstand harsh weather.
Companies such as inventorybase.com provide property inventory software that can make the process quick, efficient and straightforward. Students and universities are under increasing financial pressure, so protecting property and payments is vital for everyone.
Once the inventory is drawn up, it will need to be agreed by both parties and signed. It needs to clarify the expectations for the condition of the property when handing back the keys at the end of the agreement, but keep in mind that there does need to be an allowance taken into account for wear and tear.
Tenants, especially students, may wish to hang pictures or posters on the walls, so be flexible and agree how and where you are happy for these to displayed. Also discuss how and when tenants can contact you if they have any problems or queries, along with what dates you want payment and how you wish to be paid.