From 2007 onwards all tenants are required to submit a deposit to cover for damages that may result during the tenancy. Without an inventory for property landlords are not eligible to make claim for possible damages caused by tenants. However, landlords have also become increasingly concerned over the rising costs of renting out their properties and believe that they can save money by making the property inventory on their own instead of hiring an inventory clerk. Unfortunately, they are often not aware of the level of details that need to be added to these inventory reports. Furthermore, it is the landlord’s responsibility to prove the condition and contents of the property at the start of the tenancy in the case of any dispute.
What are the risks of creating an inventory report on your own?
* A property inventory for a single bedroom flat can easily reach up to 20 pages with all necessary details. Landlords who are not familiar with these details are not fully protected if there is a dispute over the deposit.
* The text entailing the level of wear and tear, the state and condition of the property fabric, ornaments and furnishings have to be detailed accurately with proper terminology. Property clerks are trained to categorise the conditions to a general standard therefore reducing the chances of a dispute.
* Without the involvement of a professional inventory clerk the tenants, in the case of a disagreement, clan claim that they didn’t understand certain aspects of the inventory or the they were not properly briefed by the landlord. Furthermore, they can also claim that enough time was not given to check the property. With such statements the landlord could end up losing the dispute.
A property inventory is crucial for avoiding tenancy disputes. However, it is equally important that such matters be left to a professional inventory clerk only. If you are worried about the cost of a professionally drafted property inventory you are welcome to get in touch with ZJay Inventory Services for the best possible facilities at affordable rates.