An inventory is the itemisation of goods and their condition.
Who Needs one?
Every landlord and tenant should have an inventory for each property.
Why ?
Because this outlines not only what is in the property, but also what condition it is in.
The property is unfurnished - do I still need an inventory ?
Yes, because the inventory will also point out the condition of the walls, curtains, carpets, bathroom, kitchen appliances, garden and the property as it stands.
The trouble is that many landlords believe that if their property is unfurnished, then they do not need an inventory, because there is very little that can be stolen, broken or damaged. However, just think about your beautiful magnolia walls being painted pink and purple ( I have nothing against pink or purple - just not my cup of tea) and the tenant leaves them in that state.You deduct monies from the tenants' deposit and the tenant sues you for the money. Now prove to a judge that you had an inventory prepared by an independent third party and that the state of the property had been noted prior to the tenant inhabiting the property. You can't, the judge sides with the tenant and you not only have to give the money back, but also have to pay costs as well and for the tenant. Not only that you have to pay for the redecoration of the property!
Every property should have an inventory.All inventories should be prepared by an inventory clerk.Inventory clerks are the independent persons who will go through your property with a tooth comb and note everything, Even for a 1 bed flat, the inventory can still run into many pages surprisingly.If you prepare an inventory yourself and the tenant disagrees with the inventory he /she may refuse to sign it. You need an signature on the inventory to prove that it is valid. A tenant is unlikely to disagree with an inventory clerk though, because they are dealing with a professional person who is qualified in that particular field.
A judge will not look favourably upon an inventory prepared by a landlord, because they will see it as an amateur attempt to fulfil a duty.Judges are notoriously favourable to tenants and they will tend to find in their favour every step of the way unless there is absolute solid evidence pointing the other way.
An inventory clerk will make an inventory, give a check in report and do a check out report. These are three vital documents that a landlord should have for each property.Making the inventory will normally only happen once, though I do suggest a new one every 5 years.; The inventory manual is then used for all check ins and
check outs.
As to the cost of an inventory, ,Both parties can come to some arrangement to whom should pay. The comman arrangement we come across is that the landlord pays for the make and check in report whilst the tenant pays for the check out report.As the tenant has signed the agreement, they are agreeing to pay for the check out report.
If they refuse to then you can take the monies out of the deposit.
So, in conclusion, always have an inventory made and checked by an inventory clerk. If you can not get hold of one, ring a local estate agent who does lettings and you should be able to get the name and telephone number of one. it is vitally important to have an inventory. Although another expense, it could actually save you money in the long run.
