An inventory is a concise and detailed list of the contents, fixtures and fittings of a house, flat or office that is being rented. This includes everything from the rugs and curtains to all the furniture (if furnished). An inventory provides a clear and concise snapshot of the property at the time of inventory completion with digital photos provided to support the report. The inventory must be carried out by a third party, an independent inventory specialist; otherwise it will be considered biased and will not stand up in a court of law when it is necessary to rely on it.

“With roughly 50% of all lease-end issues going into dispute, and the Owner receiving 100% of the deposit in only 18% of those cases.”

• There is no legal requirement for an independent company to carry out inspections on a property. However, an Inventory and Condition Schedule of a property at check-in is a vital piece of evidence in showing the condition and cleanliness of the property at the beginning of a tenancy. When the lease ends, it is this document that the output report is compared to. Therefore, it is very important that both documents are as accurate as possible and that their content is clear for all to see.
• Some owners produce very comprehensive reports that are unbiased and accurate. However, our experience of our dispute handling work shows that many are not. Sometimes it is very difficult for owners who are likely to have an emotional attachment to the property to be objective about the condition or cleanliness.
• Agents sometimes take on this role, but again, although their clients are both landlords and renters, in practice it’s not always easy to be impartial. It’s also not a cost-effective option when you have to send staff out to take time-consuming inventories when their time could be better spent elsewhere in the business.
• Using a professional, independent inventory company eliminates any risk of things being misreported. Therefore, it is in the owner’s, renter’s, and agents’ best interest to hire a professional, independent inventory company.

Are you renting your property?

Have you collected a deposit from your tenant that you will receive in the event of damage or non-payment of rent?

In this case, it is advisable to take an inventory of your property before someone moves in.

An independent and impartial property inventory employee or expert can provide you with a professionally compiled service including an entry report, inventory, exit report or interim inspection, which means you should be covered when it comes to making any deductions from the deposit at the end of the Lease.