What is an Inventory?
A property inventory is a comprehensive document detailing the condition of a property and its contents at the start and the end of a tenancy. The inventory details everything from decor to structural elements like ceilings and floors.
The document helps both landlords and tenants track any changes during the tenancy and resolve disputes efficiently.
Typically, an independent inventory clerk or letting agent conducts the Inventory, however, some experienced landlords perform these themselves.
Why are Inventories so important?
Before a new tenant moves in, a property inventory should be carried out to protect both the landlord and the tenant from deposit disputes at the end of the tenancy.
When the tenancy ends and a check out inspection is performed, the current condition of the property will be compared with the inventory records. If disputes arise from the findings of the check out report, the landlord and/or tenant must have evidence to support their claims. Without the inventory report, it would be very difficult to make a successful claim.
What is an inventory check in report?
A check in report is a document of the condition of everything in the property at the point that your tenant moves in, it is also known as the schedule of condition which accompanies the inventory report.
Ideally, the check in should be carried out on the day your tenants move in. Tenants are welcome to be present for the check in process, however are also welcome to meet the clerk at the end of the inspection to collect keys and be present for smoke and carbon monoxide alarm testing and meter readings.
What is an inventory check out report?
A check out report is a detailed assessment of the property condition conducted at the end of the tenancy. It compares the property condition against the initial inventory report.
The check out report and inspection should occur when the tenant leaves the property with all their belongings removed and the property ready for check out. It should list any recommended actions, usually assigning responsibilities to either the landlord or tenant, and help facilitate a quick end of tenancy and return of the deposit, in full or with agreed deductions.
Should the tenant attend the process?
Tenants are welcome to be present for the check in / check out process, however if they would rather they can meet with the clerk once the job is complete for check in / check out to hand over keys / provide access.
The landlord and tenant will have the opportunity to review the report before confirming agreement.