Landlord Inventory
Inventories.
An inventory is a legally binding document between the Landlord and the Tenant that provides an accurate record of both a property and its contents, whether furnished, part furnished or unfurnished. It is a detailed list of the objects in a property and their condition.
The inventory provides a record of the fixtures and fittings of the property in both text and sometimes images, including their condition.
An inventory produced by an impartial inventory company, and agreed by both Landlord and Tenant, is used as an easy reference point to settle any disputes relating to contents/damages at the end of a tenancy agreement. It should be revised before the start of each new tenancy. An inventory is set in place to protect the property, make sure it is up to date and accurate, it is always a good idea to get both you the landlord and tenants to sign/initial each page, so without doubt it can be agreed both sides recognise that the inventory is true accurate account of the property.
The deposit a Landlord holds in the (DPS) Deposit Protection Scheme as part of the Tenancy Agreement can be used to protect the Landlord in situations where the tenant does not leave the property in the same condition as at the beginning of the tenancy. The deposit can be used to off-set any damages that have occurred beyond ‘fair wear and tear’.
‘Fair wear and tear’ has been defined through legal processes as arising from ‘reasonable use of the premises by the tenant and the ordinary operation of natural forces (i.e. the passage of time)’. Hence, any damages that do not fall into this category could be classed as beyond fair wear and tear.
Having an agreed inventory in place helps Landlords, as well as tenants, to quickly resolve any disputes relating to damages and return of deposits.
We would be more than happy to organise a Professional Inventory for your property. (Prices on request)
Please email info@youletdirect.co.uk or call 0845 2638898 to order.