What is an Inventory and Schedule of Condition?
An Inventory and schedule of condition is full list of items within a property. Often mistaken for a ‘furniture list’ an inventory crucially contains so much more detail. Accurate recordings are made at the commencement of a new tenancy showing the condition of all fixtures and fittings, walls, flooring, ceilings, paintwork, cupboards, windows, doors, appliances, gardens etc… It is therefore important that your property has an inventory even if it is unfurnished
Why is having an Inventory so important?
A professionally prepared inventory can often become a landlord’s best friend. April 2007 saw the introduction of new government legislation requiring landlords to place tenant’s deposits within an approved and designated scheme. All of the approved schemes have made it clear that in the event of an end of tenancy dispute in respect of damage to items or property and the lack of an inventory, then any decision would be likely to favour the tenant.
When given to the tenant on move in, the inventory effectively becomes a contract between a tenant and their landlord. The tenant will have an opportunity to observe the content of the inventory and to offer their comments on the condition and the items recorded. Tenants are required to acknowledge receipt of the inventory therefore protecting the landlord against unauthorised damages and dilapidations. Comments on cleanliness are noted at the commencement and check out of each tenancy, the provision of the inventory will provide an accurate basis to support any potential claim.
The Check Out Report
It is important to recognise that a rented property is a property that has been ‘lived in.’ There will be an element of ‘wear and tear’ Our inventory clerks will determine if in their opinion that wear and tear is fair and whether it then becomes tenant liability or landlord maintenance. The inventory clerk works only on facts and will report those facts accordingly. Should the tenant or landlord dispute the content of the findings then independent arbitration is available through the designated scheme chosen to lodge the tenant’s deposit.
The Check Out Procedure
Check outs at Case McNair are carried out on an independent basis. A representative from the agency will attend the landlord’s property and carry out an inspection of the property. The check-out procedure will be carried out on a purely factual basis, matching findings from the inspection against the content of the inventory that was originally supplied at the start of the tenancy. Observations will then be presented to the landlord.
The Desired Outcome
Happy Tenants and Happy Landlords
A well compiled inventory will ensure minimal disputes post tenancy. As long as accurate records have been made concerning the property condition and the items supplied then tenants and landlords can be clear on their responsibilities and liabilities prior to, and post check out.