What you might be thinking could be something we've already taken time out to address. Check and filter through the many answers we give our customers and prospects alike.
What stage of the property rental cycle are you in? If your tenant is already in the property, then a mid-term report is what you are looking for, as it will ensure the tenant is settled in and the property is kept in a clean and ordered state with no damage to your valuables.
Suppose you are just about to start a new tenancy. In that case, an inventory check-in is more suitable as this will record the state and condition of the building before the tenant moves in and is your evidence of the condition in case of a deposit dispute. Should a tenancy be at its end, then an inventory check-out is in order. This will be compared to the check-in report and will ensure that you can justifiably make necessary deductions from your tenant’s rental deposit.
As 3rd party mid-term inventory clerks, our inclusion in your inventory process ensures that the resulting report will be considered independent.
Given we have no affiliation with you, the landlord or any property agent, the reports we provide are inherently stamped, so to speak, with the values of being impartial, accurate, and reliable.
This is especially important when it comes to tenant deposits. According to the Deposit Protection Scheme (DPS), a tenant’s deposit is always their money unless and until a landlord can prove a justifiable claim. As our reports are independent of oversight from the landlord or tenant, they are more likely to be viewed as unbiased by the DPS.
Doing it yourself will save you money during a tenancy, but it may well lose you money also in the end. A 3rd party report is independent verification of the effects in your dwelling and their value, and will be looked at more favourably by an adjudicator in the event of a dispute. A mid-term inventory performed by the landlord themselves or even their letting agent will not be seen as independent and, therefore, you may run into trouble if the tenant refuses to agree with any charges for damage or repair when it’s time to hand the keys back to you.
Another name for a mid-term inspection is also known as a periodic inspection.
During these inspections, a mid-term inventory report is produced and documents things such as maintenance, cleanliness, housekeeping, evidence of misuse and any other relevant item. It also helps the process if landlords point out any key things they think should be paid particular attention to and further enables the clerk to record any problems that can be addressed before they go too far.
Doing it yourself will save you money at the start of a tenancy, but it may well lose you money at the end. A 3rd party report is independent verification of the effects in your dwelling and their value and will be looked at more favourably by an adjudicator in the event of a dispute.
An inventory performed by the landlord or even their letting agent will not be seen as independent and, therefore, you may run into trouble if the tenant refuses to agree with any charges for damage or repair when it’s time to hand the keys back to you.
The inventory check-in report documents all of the items in your property allowing you to have a time-stamped list of all of the effects included in your tenant’s rental. This is important for the protection of the landlord’s assets and property as a whole, as if the tenants damage any of the property or it’s effects, then the inventory provides proof of what the damage is. With proof, a landlord can easily justify any charges that they wish to make against a tenant’s deposit.
It is in the best interest of all parties that the inventory check-in report is compiled before a tenant receives the keys to move into a new property.
If there is no inventory, then there is no evidence in the event of a dispute over the tenant’s deposit. Inventories make the process of dispute resoluton quicker and easier.
The report should be accurate with photographs to improve it’s reliability. This will ensure that all items are returned at the end of the tenancy without confusion.
Emphatically yes! How will you have proof of agreement if there is no dated signature? A signature shows that all parties have checked the inventory, agree to it’s itemised listing, have made and signed any amendments where necessary and are happy to proceed.
Once the inventory document is signed, then and only then, should the keys be handed over. You don’t want to have an adjudicator reject your unsigned inventory in the case of a dispute, so make sure it’s always signed!
It is not compulsory but the absence of one could prove very tricky for you if your tenant raises any disputes with you at the end of the tenancy as it pertains to returning their deposit. Consider the inventory check your personal insurance document. It can be used in the event that you need to make a claim for deductions against a deposit. It’s also useful for landlords to know what is in their property, it’s value, and it’s condition. This is especially important in the case of ensuring all fixtures, and fittings and legally required alarms are working.
As close to the move-out date as possible. If you can arrange it for the same day, then even better. The longer you leave it, the easier it will be for the tenant to claim that it is incorrect.
Furthermore, depending on the deposit scheme used, a landlord has only 10 days to return a deposit, so the quicker you perform the check-out inventory and agree on it with your tenant, the better, or you may find yourself in breach of the law.
A check-out inventory report goes a long way to protecting your property, its effects and its value as it itemises and compares the condition of the property between check-in and check-out dates. Whilst the report can be performed by the landlord or letting agent, it is not recommended as it will not be viewed as impartial during a deposit dispute resolution process.
A 3rd party report is much more likely to be accepted as independent and entirely accurate, which is why 3rd party check-out inventory reports are so valuable to landlords and agents alike
As 3rd party check-out inventory clerks, our inclusion in your end-of-tenancy process ensures the resulting report will be viewed as independent.
As we have no affiliation with the landlord or agent or tenant, the reports we provide are inherently stamped, so to speak, with the value of being impartial, accurate and reliable.
According to the Deposit Protection Scheme (DPS) a tenant’s deposit is always their money unless and until a landlord can prove a justifiable claim. As our reports are independent of oversight from the landlord or tenant, they are more likely to be viewed as unbiased by the DPS.
Some might say no, but we would argue that it is better to have it and not need it, than not to have it and need it. The inventory check-out report is the last time you can reasonably inspect the state of the property whilst it’s been under the tenant’s care. This is your proof that any changes or damage to the property during the rental period must have been caused by the tenant.
You can also take meter readings as well as ensure that the departing tenant has left nothing behind – you don’t want to be on the hook to pay for removals. An accurate check-out inventory will include photographs that can be compared to the ones taken at the check-in stage. The check-out inventory is a critical step before you return the deposit.
If your deductions are disputed by the tenant, you will need to provide justification for them with proof. A check-out report helps you to do just that. It is especially important for the report to include photographs so the damage can be viewed during the dispute resolution process. This will go a long way to ensuring you are not left having to fork out your own money to cover someone else’s destruction.
Floor plans are incredibly important for sellers or landlords who want to take the quickest route possible to a sale or signed rental agreement. You don’t want to have to stop your day to accommodate a viewing by the wrong person who could have disqualified themselves at the start if they’d seen a floor plan. Furthermore there are a large percentage of potential viewers who will not even bother to look at a property listing if there is no floor plan attached. In short, floor plans act as a funnel to more quickly connect buyers to sellers, and landlords to renters to transact at a faster pace, which means money in your pocket more quickly.
Floor plans should include key dimensions and levels as well as annotations to indicate materials, fittings, appliances and any other relevant information useful to a buyer or renter. They can be drawn for a whole building or even just a singular room, but the more detailed they are the more instructive is the plan for the end user.
All walls should be clearly demarcated as well as rooms, their size and their usage, and any windows, stairs, lifts, doors and even ceiling fixtures, if any.
Everything about the floor plan should make it easy for a person to decide if they deem the property suitable for their purposes and if they wish to view it.
Do you want an easy time achieving your sale or rental goals or a hard one? Floor plans are now one of the key components of the property marketing toolkit. Utilising one is the best way to put yourself ahead of the crowd and to encourage more potential buyers and renters to look at your listing. 20% of property seekers, in a recent survey, said they would not even look at a listing if there is no floor plan. So the question to ask yourself is: do you want to miss out on having those eyeballs on your listing? If not, make sure you have a floor plan for your building.
Floor plans allow users to see a property as it currently is and also as it can be according to how they can re-imagine it. Buyers who might want to install new features in their home, such as an en-suite or an extension, will appreciate an accurate document that they can use to start the process of renovating. They can add their own annotations to the plan or pass it to contractors. Whatever they choose to do, a floor plan will be useful for their files. In the case of landlords who are renting, the landlord themselves has documented and independently verified proof of the layout and features of their home. This can be beneficial for their own personal files, especially if needed for an insurance claim or legal proceedings.
It may well be viewed but will the property itself be viewed? Floor plans help landlords to justify why they are charging the price that they are. Including, via illustration, the size and dimension of your rooms as well as the overall square footage of the property can help prospective tenants to understand the price you have set. It would be a shame to miss out on the right tenant because they were put off by the absence of a floor plan illustrating completely why your property is worth the asking price.