Property Inventory Blog

Thinking about this subject takes us actually to the time before the inventory takes place.

Usually the case is such that previous tenants are moving out.

Once you accept or give your tenants notice,  it turns out to be quite important to kindly guide them in reviewing their Check In inventory along with the Tenancy agreement.

The incumbents get reminded of what condition the property needs to be in at the time they vacate. Thus you may sort out many of the potential delays and complications getting your property ready for the next incomers.

Sometimes tenants forget that it is their responsibility to ensure the end of tenancy clean before they hand back the keys. With regards to this, every inventory has tenants notes on check out. When reviewed, the occupants can appoint all areas of concern to the cleaners they employ.

Further from here, reading through the initial inventory helps to predict whether there may be any deposit deductions suggested.

Cleaning and renovations. It is vital to arrange for your inventory after all works are completed and property is just waiting for its new inhabitants.

Should any delays on renovations and cleans arise it is best to reschedule the inventory appointment.

This way you avoid the clerk either being unable to perform the inspection – which results in call out charges, or you will end up with a report highlighting all that has been not done yet and obscuring clerk’s work.

Similarly, if your new tenants already moved in, unpacked etc. it will be very hard to estimate the level of cleanliness.  What more, there will be number of areas which won’t be inspected due the circumstances. Consequently, the report is loosing on its value.

Now. Being well organised and  having done a good quality inventory is one thing, having supporting papers for it another. When it comes to compensation charges things are not so straightforward. There are multiple variables considered in order to conclude a reasonable deduction cost:

• State & age of the item at the beginning of the tenancy
• Price & quality of the item (for shelf life query the manufacturer)
• Length & character of the tenancy
• Character & use of the item (e.g. fresh paint in the bedroom will be expected to stay in good condition for longer than a paint in the hallway)

Letting a property is a business as any other so having your books in good order will help in case you need to count any deductions or go into a dispute.

Keeping and recording receipts of items you provide for your tenants should be simply part of the business you are running.

Furthermore, as cleaning issues seem to be one of the main reasons tenants and landlords end up in a dispute the best way to support your case is having receipts of purchased services in place too.

Tenancy agreements vary slightly but they should clearly state the expectations towards the tenants as well as their responsibilities.

At last…

Although proud and involved with your asset, it is important to manage your expectations with regards to the tenants. Understanding different aspects of wear and tear in a let property helps you map your ground.

Are you ready to compile your own inventory report?

Although there is plenty Property Inventory Providers, you can decide to handle it yourself. You are happy to invest a bit of time in order to save the money and you do well what you care about.

After all it requires mainly common sense and good attention to detail.

We have created set of questions which will lead you to assess yourself as an property inspector. What more this questionnaire will give you hints on how to improve your inventory skills.

Let’s see how prepared you are to carry out this task:

1. Would you in your report include the general overview of the property and its state of cleanliness?
2. Would you dedicate a section to meter readings?
3. In your report is there a photograph of the keys handed to the tenant?
4. Do you usually take a photograph and comment on Smoke/ Carbon monoxide detectors in the inventoried property?
5. Does your report include items descriptions side by side with their up to date condition?
6. Are you able to step out of your position as landlord and assess your property with an objective eye?
7. Would you in your report include all fixtures, fittings and movable items or simply items you regard as highly valuable?
8. Are you familiar with some wear & tear guidelines?
9. Are you able to produce a Check Out report which compares directly the condition of the items at the beginning of the tenancy with their condition at the Check Out?
10. Do you feel confident to appoint responsibilities with regards to the changes as per Check Out?
11. Would you make sure that all sections in your report are numbered?

If you responded YES to all our questions we are very impressed. Congratulations, you seem to be well informed and somewhat experienced. Frankly you appear appropriately educated to carry out an inventory for your asset.

If you responded YES to at least 9 questions we regard you as Landlord who did some homework, is quite informed and would most likely prepare a decent Check In Report.

If you answered YES to less than 9 questions, you are on the right path and now you are conscious of the room for improvement.

SO IS THAT ALL IT TAKES?  Is that what Property Inventory training is about?

Well, clearly the training will cover all the topics we queried about above.

And there is more.

Trained Inventory providers follow certain working patterns in carrying out their jobs, which may seem unnecessary while compiling a report, however it becomes rather helpful when carrying out the Check Out.

With experience they become highly skilled in item descriptions and judgement for wear & tear/ damage. They are trained to appoint responsibilities and they are aware of guidelines for compensation charges.

They hold in their pockets skills and little hacks just like any other established professional.

At first sight you may think that Property Inventory Services were invented to benefit Property Owners.

Clearly, landlords have understandable agenda to protect themselves against potential damages in properties they let.

True.

On the other hand, Inventories are here to protect your deposits. Up to date state of the property including the items within are noted and at the time of Check Out they will be reassessed with  an objective eye and  references to wear & tear.

How to avoid unpleasant surprises at the Check Out?

First and foremost –  as much as we appreciate that moving itself is a massive time and energy consumer,  we can’t stress enough that checking on your inventory will prevent later disappointments. Inventory clerks are surely trained, skilled and experienced professionals who  will capture a highly reflective image of your new home, however the devil never sleeps and there may be a thing or 2 they missed. Do not overestimate the human nature and its ability to concentrate.

Inventories went through a massive evolution since the first deposit was officially registered. Now You –  as a tenant have the opportunity to bring your own input to the Check In Inventory Report, should that be needed. You have the space between 5 & 7 days (depends on the provider) to gather photographic evidence with description which can be included as your observation about what was missed by the clerk, should this be the case.

Speaking of the input you may bring,  let us help you to see what you may wish to double check in the property:

• tiny pinhead chips to the sanitary wear and tiled flooring, these may get easily missed
• cleanliness of the curtains/blinds/lampshades
•  tiny chips to hard worktop surfaces and tiled shelves/ window sills
• chipped doors and frames above your eye level

It’s not so necessary to comment on hairline cracks in ceilings and walls as those are very unlikely to be caused by tenants.

In addition, your Inventory includes notes which should prepare you for the Check Out in the future. Do not forget to plan your Check Out ahead. Often tenants dismiss the fact that they Checked In to a professionally cleaned property which means they should also Check Out of the property professionally cleaned. Reviewing your original Inventory once you hand in the notice  may help you to discover what to bring into your cleaners attention.  It is generally a good idea to keep your receipt for the clean performed.

At last, should your landlord present you with an Inventory they compiled themselves and you would like to amend it, do not forget to make Dated Detailed Photographs of the issues you found. Accompany each photograph with explanation and forward it to your landlord.