When a new tenancy begins, creating a property inventory is common practice - we even create professional inventories ourselves as an option for fully managed and rent collection landlords. So what are they, and why are they important?
What is a property inventory?
A property inventory is a detailed report documenting everything in a rental property, including the property itself. That means every door, wall, skirting board, window, etc... as well as every furnishing. It describes each item and documents its current condition.
It's a standard practice to take a property inventory at the start of a tenancy, just before tenants move in, and again at the end of the tenancy, immediately after the tenants leave.
The primary purpose of an inventory check is to serve as a record of the condition the rental property was in before the tenant moved in, and the state they have left the property in when they leave.
Why is a property inventory important?
A thorough property inventory can be used as evidence for deposit deductions if a tenant has inflicted damage to the property during their tenancy.
For example, if a mattress was heavily stained during the tenancy and the tenant is liable, the property inventory can prove that the damage occurred during the tenancy.
Without a robust inventory, it will be much harder to prove that the damage to your property occurred during the tenancy.
That's why it's so important to not only have a property inventory, but to have a strong one with good evidence. That's why we offer professional inventories as an optional extra for our rent collection and fully managed landlords. Find out more about our services for landlords here.
How do I create a property inventory?
We recommend you let us create a professional inventory for you, that way you can be sure it's robust, but you can create your own if you so please.
You can find property inventory templates online to print off to fill out by hand, or you can edit the document on your phone or tablet as you move through the property. There are also inventory services and apps, but these come at a premium.
Your inventory needs to be thorough as if not your deposit deduction claims will be much harder to support. This is why you should consider letting our local experts create a property inventory for you as part of our services for landlords.
Filling out a digital property inventory can be better as you can take photos on your device and add them to the inventory as you go. Photographs are strong evidence, so you should prioritise taking them.
Move through the house room by room, including landings and corridors, filling out the inventory as you go. Fill in the form one row at a time, item by item, and take your time to ensure you fill it out in enough detail. Treat the exterior of the property as a room, and be sure to document the gardens, driveway, bins, etc... if applicable.
Title each section with the name of the room, and fill in each row. The first column should simply state the name of the item. In the next column, give it a general quality rating, such as 'new', 'great,' 'good' or 'poor'.
In the next column, describe the item in more detail, taking care to note any damage or lack of damage. For example: 'Oak chest of drawers, three drawers, marked to top, bottom drawer stiff.'
Finally, take photographs of the item in full as well as additional close ups of any particular details or damage. Add these into the final column for that item, and then move on to the next row until you've detailed everything in the room. Repeat this process for each room.
Creating a thorough property inventory takes time, time that could be spent elsewhere. If your property is fully managed by us, not only will we look after your investment, but you can instruct us to create professional property inventories for you as an optional extra.
When you've completed your inventory you should back it up. It's vital that you have this document ready for the end of the tenancy, or the start of the next tenancy, so it's not worth risking losing it.
Our local lettings experts want to help you let your property. We have an option for professional inventories if you let us collect rent for you, or if we manage your rental property fully. Take a look at our range of landlord services, and contact your local branch if you have any questions.
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