Landlords urged to prioritise inventories to avoid costly disputes

Landlords urged to prioritise inventories to avoid costly disputes

0:02 AM, 18th September 2024, About 13 hours ago

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Landlords and letting agents are being urged to carry out property inspections to avoid problems with damage or deposit disputes.

A poll by Inventory Base found that 30% of tenants didn’t get an inventory done before moving into their current rental property, and of those, less than 9% arranged one themselves.

For the 70% who did have an inventory, only 23% said it was done on move-in day, 64% had it done before moving in, and a surprising 13% said it happened after they got the keys.

Most inventories done by letting agent

According to the poll, for 65% of tenants, the inventory was done by their letting agent, while landlords handled it themselves 26% of the time, and only 9% used a specialist third-party provider.

In 41% of cases, the inventory was handwritten, and 22% of tenants said the person doing the inventory didn’t cover the entire property.

According to the survey, 31% of tenants weren’t even asked to sign the inventory once it was completed.

An inventory is more than just paperwork

Siân Hemming-Metcalfe operations director at Inventory Base, warns of the consequences of skipping inventories.

She said: “Handling inventories can feel like a daunting, time-consuming task for landlords and letting agents, especially if you’re still using pen and paper.

“It’s no wonder some choose to skip them altogether. But here’s the reality: skipping or rushing through this process could cost you more in time, money, and stress in the long run.

“An inventory is more than just paperwork; it’s your first line of defence when things go wrong at the end of a tenancy. Without a detailed, signed document, disputes over damages or deposits can quickly spiral into a drawn-out, frustrating experience.

“Even small missteps, like not inspecting every room or forgetting to have the tenant sign the report, can provide grounds to dispute any damages done and monies owed, opening the door to protracted challenge.”

She adds: “Hiring a professional inventory provider means an upfront cost, but it’s a very small price to pay for peace of mind. By getting it right from the start, you’re protecting yourself from costly disputes. It’s an investment that safeguards your property, your time, and your financial well-being.”


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