LANDLORD NEWS AND ADVICE FROM UK'S LARGEST ONLINE LETTING AGENT
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Archive for the ‘Inventories’ Category
An inventory is a report that details the condition of the property at the start and end of a tenancy. It is signed by both the tenant(s) and the party carrying out the inventory check (usually an inventory clerk). Things included in an inventory: • exterior of the building; • furnishings (i.e. sofa, washing machine, TV); • property particulars (i.e. doors, windows, skirting... Read more
A survey by Imfuna Let shows that a majority of lettings agents believe that the use of technology could improve their service and business but the majority are not putting their money where their mouth is. According to the survey of 100 letting agents, 90% agreed that technology would improve the service they provide to clients. 77% believe technology can speed up the entire lettings process... Read more
Lots of landlords labour under the misapprehension that their property should be returned to them at the end of the tenancy in an identical state to that which they let it in. This is incorrect. The law, and tenancy agreements allow for “fair wear and tear” to the property once it is let. However, the law does not define what “fair wear and tear” is. Of course, it might be that the... Read more
Shocking new figures from The Video Inventory Agency have shown that poorly prepared inventories are costing the residential property market millions every year in lost claims. Since the introduction of the Tenancy Deposit Protection Scheme (TDPS) in 2007, the onus has been firmly with the landlord to prove their case. However as a result of improperly prepared inventories and lack of proper... Read more
A landlord's guide to producing a useful inventory If you let furnished or part-furnished property, an inventory is now an essential document to protect you, and your tenant, from lengthy and potentially expensive arguments further down the line. Once upon a time, landlords could choose not to bother with an inventory, or to keep them exceedingly brief: I once saw one for a bedsit that... Read more