Find out average rates and prices for property inventory in Greater London.
Rates for Property Inventory vary vastly and researching your options can be time consuming. Relatively high number of property inventory companies have adopted business strategies preventing open presentation of the cost for their inventory services. Their primary focus may be business to business sale or to evoke a bespoke service tailored to your needs. If you are determined enough you should be able to get your quote over the phone or via online chat.
What’s the cost ?
Home Inventory prices in London are ranging anywhere from around £70 – £120 pounds for an unfurnished studio/1 bed provided by Inventory Companies who display pricing openly.
This inventory charge should be considered as a base line for the rates for residential inventory prices in London. The trend is to add between £10 – £15 pounds for furnishings at the dwelling and further add £6 – £15 pounds per any extra room in the property complex. This information is not always fully exposed to the searching eye, but often found in small print under the price list.
To explain this further, vividly imagine your asset is benefiting from walk in wardrobe and a study. Given each of them will have a door, door frame, ceiling, walls, switches, skirting, floor and perhaps additional items such as shelving, drawers etc. either of them will be identified as separate room. Each of their items will have dedicated section, description and condition statement the same as any other room in the building. That is the reason for the extra charge and the additional time to complete the inspection.
Digging deeper into the topic we can expose another grey area in property inventory payment fees. Miscellaneous items such as dishes, crockery, cutlery, vases, pictures etc. may be charged as extras or may qualify as excessive furnishings. In other cases they will be grouped and described generically.
What’s included ?
Property Inventory clerks have different styles of working but there is always a journey between completing an inspection and completing a report. Some type their reports using photographs others transcribe audio recording.
The price of the Property Inventory Report is expected to reflect the service, but not in all cases, therefore it is vital to understand what you are getting for the Inventory charge proposed.
Let’s take a look
Lets have a look at several price snapshots in correlation with the respective sample report at some of the Inventory companies operating in London and surrounding areas:
1. Well established Company, member of AIIC, VAT excluded.
Well established Company, member of AIIC
This report appears clear, structured with numbered items which is a a reflection of high industry standards, not overwhelming and providing a photograph of the overview of the room.
Pixel Inventory uses a similar structure, however we provide photographs side by side with each item description which allows you to immediately link photographs with the condition and comments.
Pixel Inventory provides you with such a report at a lower price for an unfurnished 1 Bed property
2. Highly ranking company, VAT charge not specified
Source High Ranking Inventory Company
This property Inventory Company provides you with sufficient detail however mixes descriptions with conditions and additionally individual items are not numbered. It is an industry standard to number the items in the report and ideally separate descriptions from conditions in order to create easy comparison at Check Out.
3. Central London based inventory provider, AIIC member
Source Central London based inventory provider
This company offers a decent report for good value. Format does not display photographs right by each item but each wall is noted as subitem for easier referencing. The price list demonstrates good value and grows if you request check In service along with the report.
Pixel Inventory operates simplified pricing, averaging similar values but we offer Check In Services at no additional price if requested within the inspection appointment.
If you are confused about the term “The Check In Service” here is a swift break down. Check In essentially means meeting your new tenant or tenant representative to hand over the property. Tenants are toured around the property by the inventory clerk and informed about what is being noted in the inspection. Additional items covered at the check in include condensation, mould , limescale and disrepair in relation to their responsibility. Sometimes but not always, landlords instruct property inventory professionals to hand over the keys to the tenants.
Researching our competitors we find out that the majority of ARLA property mark registered inventory providers wont display fees for their services. We did find a company that openly presents the rates and displays the ARLA Property mark logo.
4. Residential Inventory Provider, prices currently not subject to VAT, displaying ARLA Propertymark and AIIC logos
Source Residential Inventory Provider
The report presents clear, easy readable format, however items are not numbered for fast referencing. The inventory report was also accompanied with good photographic evidence below each room. The pricing table appears less clear as prices for inner London and Greater London were listed separately.
How we operate
At Pixel Inventory keys are released against the tenants signature. Tenants have 5 days from receiving the inventory report to digitally sign. In case no comments or observations are made by the tenants over this period, the report is considered accepted even in case of missing signatures.
Pixel Inventory believes in transparency, affordability and service delivery and utilises technology and operations for an improved service. In our customer surveys rates for Property Inventory at Pixel Inventory are considered by our customers very reasonable and reflect value. When asked customers said they preferred the simplified pricing.
Pixel Inventory operates secure online booking available 24/7. Pixel Inventory clerks have availability 7 days a week and can be booked at as little as 12 hours notice. There is no additional charge for weekends, urgent appointments or bank holidays.
Looking at a sample report from Pixel Inventory will demonstrates commitment in delivering a high standard residential inventory service.
Source Pixel Inventory
Looking at the sample, items numbered for easy reference, descriptions and conditions are seperate and provide sufficient detail with photo graphic evidence.
We also see reports with different formats. See further snapshots as reference. Price lists were not available online. The number 5 and 6 demonstrations of Inventory Reports are presenting needed information. At the same time reading through them we felt sense of disintegrated text. We perceived such report less easily to read and also more difficult to handle if needed to use for production of a Check Out Report.
5. Well established Property management company London operating over 12 years
6. Property Inventory Provider London, AIP trained staff
The last snapshot we are offering to view in this article is presenting good structure and numbering style. On the other hand its conditional comments contain mostly abbreviations which is not usual practice. Every Property Inventory Company will use some Standardised Abbreviations but it is very unlikely that this will become the majority of text in condition comments.
7. North London based Inventory Company , displaying APIP & AIIC logos on their site
We hope that you are leaving this article with better understanding of the Property Inventory market and its rates. You can share with us your view on this topic, we will grow with the help of your comments.