WHY DOES A LANDLORD NEED AN INDEPENDANT INVENTORY

One of the most important steps and one that is often neglected because it comes at the end of the letting process is the compilation of the inventory. Many landlords stretch to scribbling a few notes on a piece of paper .

However, since the introduction of the Tenancy Deposit Scheme in April 2007, the inventory has taken on a much greater importance for landlords. If there is a dispute at the end of the tenancy then this document will be crucial in resolving any disagreement between the landlord and the tenant. A correctly compiled and accurate inventory could save you literally thousands of pounds should a dispute arise and the matter go into arbitration or to court.

The inventory is a catalogue of the property and its contents. A schedule of condition is a record of condition. Most commonly the two are combined into one report and are called either inventory or schedule of condition.This report has several functions:

It is a catalogue of the property being let.

 It records the condition of the property and any items that are included in the tenency.

 It forms part of the legally binding contract that is set out in the tenancy agreement between the tenant and the landlord.

Remember too that any apartment put up for rent after October 2008 needs an EPC, Greenheart has Energy Assessors who can help you with this at a very commercial rate.It can be done in conjunction with an inventory to save even more money.