The importance of inventories
At the start of a tenancy agreement, you may not be thinking about the end of the agreement but it is important to have a few things in place that will make the termination of the agreement much easier. You should be looking to have everything in writing as this will help to minimise any disputes at the end of the deal. This is why you should have a clear and comprehensive inventory in place for every tenancy.
This is something that is seen to be best practice for tenancy agreements and there is a lot to be said for the fact that having a comprehensive and detailed inventory will help to maintain the property of your home. This is because if the contents of the property and the condition of these contents are well documented, it will be far more likely that the tenants will maintain the condition of these items. Tenants understand the importance of getting their full deposit back and if the contents of a property are missing or damaged, the money they receive back will be lowered. This is something that can impact on the behaviour of tenants in your home so it makes sense for a landlord to fully itemise the contents and note the condition of the property.
Minimise debate and discussion when a client moves out
It also makes sense to have photographic images of the contents to assist you with end of tenancy discussions and possibly debates. Not every item in a property will be in pristine condition at the start of the agreement and it may be that natural wear and tear will cause some issues over time but unless the nature and condition of items are agreed in advance, there will be debate and discussion at the end of the agreement.
An inventory list needs to be understandable
Given that an inventory will become an important document, it is important that it is written clearly and that everyone understands what is outlined in the document. It can be difficult to straddle the line between proper legal language and making sure that everyone knows what is included, but this is where the experience and expertise of a letting agent will come in handy. Knowing what has to be included, and how it should be recorded, will make the process easier.
Inventory lists are not only useful for the end of the agreement; they are useful throughout the length of the agreement. The NLA makes a recommendation that the landlord carries out mid-term inspections and undertakes a pre-checkout for their inspections. This can provide the tenant with an understanding of any potential issues, and can give them useful pointers on how best to prepare the home in time for a thorough inspection. This can save the tenant money and hassle later on, so it is something that is of benefit to the tenant as well.