Landlords should take a full and properly recorded inventory of the furniture and condition in a property at the start of a tenancy. If this vital step is forgotten it may mean that the landlord is at risk of losing some cash.
Since the introduction of the tenancy deposit schemes in April 2007, landlords have been required to provide evidence in order to justify withholding a tenant's deposit for damage or cleaning costs. Inventories are a good way to record the condition of a property, and show exactly how a property looked when a tenant moved in, and therefore bring to light any changes that have occurred since the tenant took occupancy. Some landlords feel that inventories are an "optional extra" states the National Landlords Association (NLA), but they are essential to safeguard your investment, especially in the current economic climate when many landlords could be facing increased rental arrears and void periods, particularly if they have chosen to rent privately.
When a tenant vacates the property some landlords may find that their property has been damaged, needs cleaning or that furniture or fittings need replacing. If however, the landlord can’t provide evidence of the state of their property at the start of the tenancy the landlord could well end up facing reaching into their own wallets to pay for repairs.
A detailed inventory can help deposit negotiations be dealt with quickly and easily at the end of a tenancy. If there is a dispute it can also be used as evidence in a tenancy deposit adjudication process.
Northfields Estates Property Management team offers a simple way for landlords to detail the condition of their property and safeguard its contents - we'll do it for you. Detailed inventories and professional check-ins and check-outs will ensure that your property is covered. Call our award winning lettings team to find out more about our property management service on 0208 567 6660.
Comments