What is a Property Inventory?
A Property Inventory is a listing of all the contents of a property and a record of the condition of the property. It is also called a “schedule of condition”. It is designed to help monitor the condition of the property and its contents (1) before a tenant moves in, and (2) just before a tenant leaves, so it can be determined if any damages need to be paid for out of the tenant’s deposit.
This is a step often skipped by landlords - and tenants - when it can actually prevent a lot of disputes. It can therefore save everyone TIME and MONEY and is highly advisable.
Do I need to have a Property Inventory?
Most tenancy agreements will provide for the tenant to pay for damage they have caused. But what if the tenant denies the damage and it cannot be proven? While it is not a legal requirement to have a Property Inventory, most Landlords would consider it an essential safeguard for any rental property.
Our Inventory report is a clear listing of the contents, fixtures and fittings and the cleanliness of a property. The report notes the existing state of all items together with digital photographic images.
In addition to the standard Property Inventories, we are able to offer a comprehensive Check-in and/or Check-out service along with quarterly or 6 monthly property inspections.
How is an Inventory prepared?
The Landlord, Letting Agent or an Independent Inventory Clerk (like Talk Green) can prepare the Inventory, which should be agreed with the tenant on moving in. The Landlord (or their Agent) and the tenant(s) should sign the Inventory, and initial every page.
Photographic or video evidence of the property contents and condition is optional, but highly advisable to prevent ‘differences of opinion’. More valuable items such as a cooker and washing machine should certainly be photographed, so that there is no question as to their condition.