UK PROPERTY INVENTORIES – COMPLETE GUIDE
An inventory is an extensive list of items, and when it comes to a property inventory, it is a record of the things in a house. We recommend that landlords who are renting out their property make a comprehensive checklist of all the items in the property for more than one reason. Here is all you need to know about creating a property inventories in the UK. To have an easy and hassle free renting experience, both lessor and tenant should ensure that the procedure is systematic to begin with.
Why do you need an Inventory?
A landlord planning to rent out his property should have a complete record of the all items that are in the house. Creating such a list is beneficial to both owner and tenant, be the property commercial, residential, or a parking area. If an exhaustive list had been drawn out during check-in, at the time of check out both parties can be on the same page. This helps in case of missing or damaged fittings and fixtures. The landlord can claim for replacement or repair of a missing or broken item, and the tenant does not have to worry about false allegations. Moreover verifying the items is much easier when the tenants move. For the property owner, it thus becomes easier to mend, fix, replace broken fixtures and furniture before renting out the property again.
When to make an Inventory?
Simply put, inventories are made before the tenant moves in, and the day he moves out. Having a check-in inventory simplifies the check-out, as you only need to cross verify the list you already have.
Why are Property Inventories important?
UK law mandates that the deposits landlords take from tenants are to be protected in a government deposit protection scheme. The advantage of the scheme is that the landlord can claim damages in case of any, against the deposit. Due to this law, a home inventory becomes an important legal document, that property owners cannot overlook.
The government has recommended certain legal evidence to be produced by the lessor for the mandatory deposit protection schemes:
- A tenancy agreement that refers to property inventory without ambiguity, with lucid definitions on the condition – new, worn, broken, working, etc.,- of the items.
- A detailed inventory list with brand names and serial numbers of the fixtures and appliances – preferably with photos and videos – attested by the tenant.
- Financial records like invoices, receipts, quotes, and so on.
- Proof that the both lesser and tenant are in consensus with the terms and conditions of the rental agreement.
- The tenant should have received simple and lucid instructions on the dos and don’ts, and a clear understanding of the check-out procedure.
What does the list carry?
Any item in the property prone to damage must be part of the inventory. Besides the objects, components of the structure like flooring, ceiling, fittings, etc., also must be incorporated in the record. Given below for your reference is a list of items that are to be part of a UK property inventory:
- Ceilings (scratches, cracks, other structural problems)
- Walls (scratches, cracks, other structural problems)
- Flooring (scratches, cracks, type of flooring, carpets)
- Bathroom and garden
- Other Structures (shed, garage, outhouse)
- Storage (shelves, cupboards, drawers)
- Fixtures (lamps, lights)
- Fittings (sinks, taps)
- Furniture (in case the rental property is a furnished one, every piece of furniture needs to be part of the inventory)
- Appliances (refrigerator, dishwasher, washing machine)
- Doors, windows, blinds
- Paint (condition, colour)
How to prepare a Property Inventory in the UK
The landlord or an agent can draw out an inventory. You can use a landlord inventory template available on the internet. It can be made in collaboration with the tenant. In case of complications, a bailiff can also be involved. To perform the inspection of the fixtures and appliances, and look for defects, be sure to fix an appointment with the tenant during the daytime, with all amenities like electricity, water, and gas in working condition. It is not uncommon for inventories to have photographs besides descriptions. After making two copies of the document, one for each party, sign them to make them legally valid.
Before signing make sure that the tenant is in agreement with your list, that both parties agree on the wear and tear. Also ensure that the damages procedure is in place. Make provisions in the agreement for the lesser to inspect the property every three months to ensure that the tenant complies with your conditions. The tenant has a right to 24 hours notice prior to the visit, and anything you find that needs flagging, you should ideally discuss with your tenant then and there.
Dilapidation Reports:
A property inventory treats dilapidated items that are already damaged or worn, differently in an inventory. Make sure to reach a consensus with your tenant regarding these.
Paid UK Property Inventory Services
There are property owners who make their own inventories without external help. Yet, if you are busy, or want a thorough and professional inventory, you can approach paid inventory services. They will take care of your check-in/check-out forms, digital photos, readings of meters, and so on, and submit to you the final document printouts ready for signatures.
Moreover, experienced professionals are meticulous and are quick to note the damages. It is the inventory clerks who carry out the checks and document them. You can always assist, clarify your doubts, and offer your suggestions to these clerks, because ultimately you are responsible for your property.
To wrap it up
Property inventories are important and need to be prepared deligently. Most people dislike making lists and doing paperwork but remember that investing in it will go a long way. If you feel that it is not worth your time and effort, seek the help of professionals.
