When you move into a new rental property it can feel like you have a million and one things to do.
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Indeed, an article in The Express places moving home amongst some of the most stressful life experiences you’ll ever encounter – even more stressful than divorce! But amidst the boxes and the removal vans and the arduous process of setting up new utility accounts, it’s very important to remember one crucial thing: conduct an inventory check-in. But what exactly is an inventory check-in and why is it so important?
What Is an Inventory Check-in?
An inventory check-in comes in two parts. The first involves compiling a report of all of the items in the property at the time of letting. The second is to assess and record the condition of said items and to take meter readings and log how many sets of keys are given out. Some systems also allow the landlord to register key dates such as when they need to contact a Boiler Service Cheltenham company such as www.blu-fish.co.uk each year to have their heating systems safety checked.
Who Carries Out an Inventory Check-in?
An inventory check-in is usually carried out by the property owner or letting agent. However, more recently, third party companies that are dedicated to carrying out inventory checks are being drafted in, as there is often less bias in their reports.
How Are Inventories Carried Out?
In the past, most inventories were presented as a written report, but in the new technological age you may find that property inventory software is used or that a video log is carried out. In any case, the report should be thorough and detailed in both terms of the items present in the property and, more crucially, the state that they are in.
Why Is an Inventory Check Important?
The key reason that these checks are carried out is to avoid disputes between landlords and tenants at the end of a tenancy. Although reasonable wear and tear to a property is expected (and usually written into most tenancy agreements), a landlord may take issue with severe damage to the furnishings, decor or structural aspects to a property. Having a written or visual log of the state of the property at the time of letting can help resolve these disputes and clarify when the damage occurred. This type of evidence is crucial should a landlord want to claim for damages from a tenant.
Why a professional inventory protects both sides
A poorly prepared inventory can lead to legal disputes, costs running into thousands of pounds and a miserable experience for landlord and tenant alike. That is why many landlords and agents hand the job to an independent inventory clerk.
A professional will assess the condition of the property, check the utilities and list any items being left behind, noting what condition each is in and whether it works. They also record meter readings on the day, so there is no argument later about who owes what, and make sure signed copies reach both parties quickly, usually within 24 hours.
The biggest source of conflict at the end of a tenancy is the difference between fair wear and tear and actual damage. Photographs of the interior taken in advance settle that question. A thorough clerk will also check safety features such as smoke alarms and gas detectors, giving you confidence the home is safe from the day you move in.
Why an independent inventory protects both sides
An inventory prepared by an independent clerk records the condition of a property in detail at the start of a tenancy and again at the end. It is not compulsory, but many agents and landlords use one because it gives a fair and neutral record, so any deductions from the deposit are transparent and easy to justify.
For tenants, that fairness can protect money they may be saving towards buying a home of their own. For landlords, it offers protection against careless or destructive tenants, because the condition at check-in is clearly documented.
Renting has become more complicated as rules and regulations have increased, and inventory software can make the process quicker and simpler for landlords and agents. Whoever prepares the inventory, the tenant should have the chance to check it and agree that it fairly represents the property and its contents before signing.
Looking after a property between tenants
The inventory matters just as much at the end of a tenancy as at the start. Carry out the final check out with the outgoing tenant, making sure the property is clean and in the same condition as when they moved in. This is the right time to raise any disputes and agree the final meter readings.
When the tenant leaves, the landlord becomes responsible for the utilities. Take readings of the electricity, gas and water meters, pass them to the suppliers and put the accounts back in your name. Take fresh readings when new tenants arrive so you only pay for what was used while the property was empty. Switch off and unplug electrical and gas appliances, leave fridge and freezer doors open so they do not smell, and turn off the heating and hot water timer to save money.
A gap between tenants is also an ideal chance to redecorate or carry out repairs, so the property looks fresh for whoever moves in next. Record any changes in the new inventory.