The advent of The Tenancy Deposit Scheme (TDS) has made the provision of an accurate detailed inventory more important than ever.
"Independent inventories offer protection to both the LANDLORD and TENANT and helps reduce the number of deposit disputes".
"Full protection should be offered to all parties within the letting process, and independent inventory reporting is the only way to ensure that no biased reports are used".
"This will enable the Government’s tenancy deposit scheme (TDS) to have sufficient impartial evidence to enable them to adjudicate fairly should there be a dispute".
LANDLORDS URGED TO HAVE COMPREHENSIVE INVENTORIES
At the end of any letting period tenants are required by law to return the property to its original state, as described
in the inventory, with allowance for normal wear & tear. The same principle applies to the cleanliness of items.
The best way for landlords and agents to ensure the property’s condition is fully recorded is by having a comprehensive inventory in place at the start of any new tenancy, and making sure that a thorough check-in and check-out report is completed.
Under new legislation, tenants’ deposits should be protected by a regulated agent and disputes about their return will be resolved swiftly, inexpensively and impartially.
Deposit disputes can be avoided if a professional inventory is prepared.
AIIC (Association of Independent Inventory Clerks)
Don't be fooled, property inventory compilation is not a simple process. Not only does the property inventory make up part of the legally binding contract between landlord and tenant, the process and detail required must be completed to a level where it is admissible evidence in a court of law and by tenancy deposit schemes.