Many people are warning that tenants may lose thousands of pounds because of things that are elaborated within the property inventory going missing at the end of a tenancy.
As student tenancies come to an official end over following few weeks, it’s imperative that tenants, landlords and letting agents take additional notice of inventories as tenancies turnover this summer.
The Association points to a recent study carried out by moving company that found that over half of the tenants had experienced hassle with their landlord once it came to the return of their deposit at the end of the residency.
The survey additionally disclosed the most common reasons for lost deposits; with things missing from the inventory the reason a fifth of participants failed to receive their full deposit back. Many agents have started to use property inventory software to prompt them to complete an inventory when a tenant moves in and out of a property.
One of the reasons why landlords should have an inventory report at the beginning of each tenancy that not solely lists all the pieces of furniture, fixtures and fittings, however additionally details the condition of the property and all of its contents.
It doesn’t need to be ready by a 3rd party — you’ll be able to do it yourself if you’ve got the time, however you should ensure the tenant signs it to say they accept that it’s a correct record.
Tenants should check the inventory, instead of simply assuming that everything is because it ought to be. i do know it’s tedious to go round a property ticking everything off the list, however even the foremost detailed report prepared by an expert inventory clerk can nearly undoubtedly contain a number of mistakes.
By using property inventory software you can help to cut back on mistake. while checking some individuals forget to test on appliances to check they’re operating properly. they may wipe a finger over a grill to see it’s been cleaned and they sometimes look inside washing machines and dishwashers for mould, however that’s really about it.