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The Importance of a Professional Inventory

Friday, 3rd June, 2016

The Importance of a professional Inventory for both landlords and tenants

A professionally drawn-up inventory and schedule of condition will protect you from any unwarranted disputes by the tenant at the end of the tenancy. If there is an insufficient, outdated or, even worse, no inventory then you will have no evidence of what the property was like at the start of the tenancy. This means that if you or the agent are unable to provide documentary evidence that the tenant caused damage, then you will not be in a strong position to make a claim, in the event the tenant contests the matter.

WHY NOT SAVE MONEY AND DO IT YOURSELF?

Compiling an inventory and schedule of condition is a skill and should be carried out by someone qualified to do so. The inventory is an important document and one that may need to be relied upon as evidence in the event of a dispute and used in adjudication with the tenancy deposit scheme provider and may be liable to the scrutiny of a Court of Law.

The inventory is not just a list of items placed in or on the premises. A proper inventory will include a schedule of condition of the property as well as the fixtures, fittings and contents.

ASK YOUR AGENT ABOUT APIP

You are entitled to find out who is going to be documenting the details of your property. Ask your agent for details of the inventory provider’s qualifications and experience. An inventory provider who is a member of the APIP (MAPIP) will have gone through training and passed an assessment based on their competency to conduct the inventory compilation, check-in and check-out. The candidate must also provide evidence of at least 6 months' hands-on experience of the role.

For your further protection members are required to have adequate, up-to-date public liability and professional indemnity insurance. This demonstration of the level of competency required by the industry is aimed to give the landlord the confidence that they have the protection of professional documentation to support any claim in the event of a dispute.

HOW OFTEN SHOULD THE INVENTORY BE UPDATED?

The inventory should be drawn up from scratch when an agent first takes on the property. Thereafter it should be properly updated and printed out at the start of each new tenancy. Each new tenancy should have an inventory that is unencumbered by comments relating to previous tenancies at the same property.

  

 





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