What is an Inventory?
An inventory is an essential document that provides a written record that details the fixtures and fittings of a property and their condition as well as the condition of the property itself.
This should be amended, updated and recreated before the beginning of each new tenancy.
Why do I need an Inventory?
Since the introduction of statutory Tenancy Deposit Schemes* on 6 April 2007, the creation of an up to date and accurate inventory has never been more important.
One of the main features of the Schemes (brought in primarily to protect the interests of the tenant) is dispute resolution and the inventory will play a major role in the process.
When the time comes to agree the amount of deposit returnable to the tenant, a fully detailed and accurate inventory will support the evidence of both the landlord and the tenant, particularly if there is a dispute.
The independent adjudicator attached to which ever Scheme the deposit has been registered with will examine all documentation as a basis for his decision and a good inventory will not only speed completion of a tenancy but will also keep costs down.
Proper information will enable fair treatment of tenants and it will be up to the landlord/agent to prove any claims they may have on the tenant's deposit.