Question:

Answer:

Why have an inventory or schedule of condition?

Renting a property can be a daunting task for both landlord and tenant.

An independent inventory provides completely unbiased reports so therefore both the landlord and tenant know that it is a fair and true report on the condition of the property at the beginning of each new tenancy and that it has been compiled by a neutral party.

A poorly prepared inventory can be very expensive for the landlord and make it almost impossible for the TDS (Tenancy Dispute Scheme) to decide any loss or damage to the property.

Why carry out a check-in?

The check-in ensures that the “in going tenant” is aware of the Inventory or ‘Schedule of Condition’ of the property and their responsibilities for leaving the property in a similar state on termination of the agreement.

At this stage the tenant can also be reminded of any contractual responsibilities such as cleaning, parking, gardening, pet policy, rights of access, or any idiosyncrasies on the property.

Why carry out a mid-term inspection?

This is essential when managing a property to ensure that the property is being properly cared for and any potential problems addressed quickly.

Why carry out a check-out?

The accurately prepared independent inventory or Schedule of Condition (SOC) now comes into its own at this point.  The SOC gives both parties the opportunity to check the out-going condition of the property against the SOC compiled at the beginning of the tenancy and allows for fair wear and tear.

What if there are only few  letting agents in my area?

Each letting agent can have anything from 100 to over 500 managed properties on their books.  So this potentially means a new inventory, a check-in, a check-out and mid-term inspection for each property.

What if there are already inventory clerks in my area?

Excellent news!  This means that there is a market place and competition is healthy.  Not all clerks will be proactive, motivated and looking to be the best in the area with accurate reports and quick turnarounds.