An Independent inventory can be beneficial to both the landlord and the tenant as it gives a detailed and precise description of the contents of the property as well as the condition of the fixtures and fittings. In 2014 the PRTB dealt with 801 cases of deposit retention. By hiring a inventory clerk it ensures that the inventory is handled by a trained professional who is less likely to miss out vital information that may cause a dispute at the end of the tenancy.
A trained inventory clerk is able to determine what is fair wear and tear and what is damage, they will also take into consideration factors including the quality of item, its condition at the beginning of the tenancy, if the property had been let to a single professional or family with young children, or if the lease has allowed for pets etc.
Not only is an inventory beneficial to the landlord and tenant, by using an outside company to complete the inventory it will not only save your agency time and resources to focus on the more profitable areas of your business but it can give an unbiased assessment of the property. by having a thorough inventory it is less likely that there will be issues when the tenant leaves the property at the end of their lease.
A Comprehensive inventory of the contents, fixtures and fittings which is signed and agreed by both the landlord or agent acting on the landlord’s behalf and the tenant, in the case of furnished properties a list of all items in the house are recorded by room, in the case of unfurnished and furnished properties a detailed description will be recorded which will include the conditoin of the walls, and ceilings, floors and carpets, paintwork, lighting fittings, wood work and windows.