The Rental Agreement is considered as the most important document for both landlords and tenants. It is also widely believed that an Inventory Report for your property is the second most important document if you wish to avoid tenancy disputes. Often both tenants and landlords are aware of the importance of a property inventory but still maintain a passive attitude towards formulating a detailed and professionally drafted property inventory. In the text below we will discuss the biggest drawback of this approach.
The Inventory Report is essentially a document that contains the details of each room and its contents including their condition at the start of the tenancy. The report also contains photographs to support all claims. The property inventory is created at the start of a tenancy by an expert inventory clerk. The report is verified and signed by both parties after which the tenants can officially move into the property. Another similar report is then compiled at the end of the tenancy. This report is then compared with the earlier report to note changes (if any) to the property.
Now that you know what an inventory report is, you may be wondering if it is really worth the effort. Consider this, all tenants are required to submit a security deposit at the start of the tenancy to cover for any possible expenses that the landlord should not have to bear. As per law, the landlord will have to secure this deposit with one of the government’s approved schemes. At the end of the tenancy if the landlord makes a claim of damage to the property the court will require a property inventory as evidence to establish that the damages did in fact occur during the tenancy.
Both tenants and landlords should not ignore the importance of professionally drafted property inventory. If you require the services of an expert inventory clerk you are more than welcome to get in touch with ZJay Inventory today.