Need an inventory?

Letting agents may want to ensure that new landlords are aware of the importance of completing an inventory before tenants move in. Spokesman for the Tenancy Deposit Scheme Malcolm Harrison explained how it is “ absolutely vital” that a check list is completed. “An inventory is not just about counting the number of spoons; it is also a condition report,” the expert stated. Mr Harrison described how inventories need to be signed off by both the landlord and the tenants to show both parties agree with what state a buy-to-let property is in at the start of the rental period.

Landlords were advised completing a checklist will help to reduce the chances of a dispute about the return of the deposit at the end of a tenancy. A recent survey carried out by Total Landlord Insurance recently revealed 65% of buy-to-let owners conduct their own inventories, which is exposing them to greater risk of disputes.

Here at Applegate Lettings, inventories are already a must. We provide a photographic inventory and walk through of the property with all new tenants as standard. In the long run, completing this protects both the landlord and the tenant so we consider it to be an essential part of our process.