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Why having a professional inventory is essential in letting your home

Tuesday, 28th February, 2017

Having a professional inventory and schedule of condition is essential in order to protect the interests of landlords, agents and tenants. Inventory issues are at the centre of a significant proportion of the deposit disputes dealt with by dispute resolution services. Quality of inventory provision varies greatly across the industry so what does using an APIP member mean to landlords and letting agents?

APIP members are qualified either through passing the Technical Award in Residential Inventory Management and Practice or through significant experience in the industry. The qualification comprises four units incorporating legal matters, health, safety and security, property management and inventory practice. 

APIP members stay up to date with industry best practice and sign up to follow the APIP Code of Practice. APIP members who are Principals, Partners, Directors and sole traders are obliged to carry Public Liability and Professional Indemnity Insurance and must have their own internal complaints procedure along with being subject to the NFoPP Regulation Complaints procedure

Former Property Ombudsman Christopher Hamer sums up the importance of a quality inventory process:

“A properly prepared and comprehensive inventory sets the scene for what is provided by the landlord at the start of the tenancy. It therefore plays a significant role in protecting both landlord and tenant.  A detailed inventory will help avoid disputes, whilst any such dispute that does arise about missing contents or condition of the property at the end of the tenancy can be more easily resolved. Many disputes occur because of a lack of diligence in putting together the necessary documentation and that can bring about the risk of financial loss to either tenant or landlord. It cannot be emphasised enough how important the inventory is in relation to rental properties and its preparation should be carried out by a fully trained and professional inventory provider who can provide that diligent approach.”  

If you think the number of deposit disputes that you are dealing with is higher than it needs to be it may be time to look again at your inventory process. #lookforthelogo





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