Property inventories, Schedules of Condition & associated services

Why have a property inventory & its associated services?

In April 2007 the government introduced the Tenants Deposit Scheme (TDS). Therefore it is now more important to have a professional and impartial property inventory report/Schedule of Condition for any leased property, whether you are the landlord or the tenant.  Landlords rightly want to protect their property whilst tenants rightly want to have their deposit returned to them at the end of their tenancy and not have deductions made for damaged/missing items that were not actually caused by them. It is worth remembering that with the advent of the TDS, landlords who create a poor inventory will not be successful in claiming against the tenant's deposit for damage caused by them.

The most effective way to avoid and/or resolve a dispute over the return of a deposit is for the landlord and the tenant to know exactly what was at the property and the exact condition of each item, an inventory & its associated services provide the perfect mechanism for this. Afterall, a dispute could lead to ill-feeling or even legal action and the costs of such action will far out-weigh the cost of preventing it.

Property inventories & Schedules of Condition

What is a property inventory/schedule of condition?

The difference between a property inventory report and a schedule of condition is that the property inventory report will be carried out on a furnished property whereas a schedule of condition will be carried out on an unfurnished property. A property inventory report/schedule of condition is a document that lists the contents of the property along with the condition of each item. By ”the contents” we mean everything from the fixtures, fittings, furniture, floor coverings, doors, windows, walls, ceilings, lights, curtains, curtain rails, sockets etc. so whether the property is furnished or not it is still important as fixed parts of the building are also included.

An inventory/schedule of condition is normally undertaken at the start of a tenancy and details the condition of the items present at the property at that moment in time. Every landlord and tenant should have an inventory for each property, because the report outlines not only what’s in the property, but also the condition it is in and this forms the basis for whether or not a full refund of the deposit is given to the tenant at the end of the tenancy.

Our inventories/schedules of condition are carried out by Degree qualified Surveyors/Home Inspectors and are well presented, jargon free and very detailed with all items and their conditions recorded. We will also include meter readings so that there are no disputes over the payment for the services.

Each inventory/schedule of condition is supported by detailed high resolution photographs of any damaged items, general views of rooms, gardens, boundaries etc. These photographs can be included in the report or simply retained by us should they be required in the future. Please note that gardens, boundaries, out-buildings etc. do not make up part of the normal inventory/Schedule of Condition although we will take general photographs of them, these items can be included should you require it.

Copies of the report will be sent to the landlord, tenant, letting agent (if required) and we will also keep a master copy for our records.

It is a requirement for the property inventory/schedule of condition report to be signed by the landlord and the tenant, it then becomes part of the lease agreement and a legally binding document.

Check-In Reports

A check-in report is a comparison between the property inventory report at the very beginning of the tenancy to ensure that there are no differences in the contents or their condition from the time that the property inventory report was completed.

It is a requirement for the check-in report to be signed by the landlord and the tenant, it then becomes part of the lease agreement and a legally binding document.

Check-Out Reports

A check-out report is a comparison between the property inventory report and/or the check-in report on the very last day of the tenancy to ensure that there are no differences in the contents or their condition from the time that the check-in report was completed. Any variations in contents and their condition will be noted and reported.

It is a requirement for the check-out report to be signed by the landlord and the tenant although some tenants may be reluctant to sign it, however, as the landlord you have very strong evidence as to what contents were at the property and their condition as you already have very detailed property inventory and check-in reports.

Mid-tenancy visits for periodic inspections

Mid-tenancy visits for periodic inspections should take place at around half way through the tenancy. The main purpose of the visit and inspection is to ensure and that the property is being looked after by the tenant and additionally that any maintenance issues are identified so that the landlord can arrange appropriate repairs. The visits can also be used to ensure that repairs already ordered are undertaken and are satisfactory.

Remember that prevention is better than cure and could save the landlord a considerable amount of associated repair costs such as, water damaged carpets, ceilings etc. and save the tenant any discomfort.

All the above are tailored to make your tenancy agreement as trouble free as possible whilst protecting the interests of the landlord and the tenant.

Why not couple any of the above services with an Energy Performance Certificate and have them both done in one visit.