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 3 months ago 4

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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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Paul Essex

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18:06 PM, 18th September 2024, About 2 months ago

Deposits today are entirely inadequate with derisory awards from deposit companies. I suspect it would be worth a professional inventory if you had a guarantor.

Alison Clark

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21:09 PM, 18th September 2024, About 2 months ago

Reply to the comment left by Paul Essex at 18/09/2024 - 18:06
Hi I’ve just looked again at my inventory completed by an independent clerk, the clerk has signed it but not the tenant. Can this be easily rectified? Can my tenant dispute signing it now after 10months into a 18mth fixed term tenancy. I am fully managed.

Thank you

Alison

Judith Wordsworth

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8:24 AM, 21st September 2024, About 2 months ago

Reply to the comment left by Alison Clark at 18/09/2024 - 21:09
Ask the tenant to sign it. If they won’t then will be warned the type of tenant they are.

If they did not sign it, ie both copies (1 for them and one for the Managing Agent/Landlord) they can dispute any withholding of the deposit quite easily. If negligence by the person doing the check-in on your behalf can be proven then you possibly could sue them under breach of contract IF the usual practice is for all parties to sign and date the inventory. We’re photos taken? A video?

Alison Clark

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14:48 PM, 21st September 2024, About 2 months ago

Reply to the comment left by Judith Wordsworth at 21/09/2024 - 08:24
Hi Thank you Judith. I have checked with the agent and he has reassured me his copy is showing the tenant did sign and that electronically there is a tick list that must be completed before the tenancy begins. I’m a little reassured but I’m going to go a step further and visit the branch and request that they show me the 2 signed copies and to be shown proof everything was issued (gas cert etc) at sign up/proof of receipt by tenant.

Yes photo’s were taken and descriptions.

Thank you.

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