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Guide to inventories
Inventories are an essential part of any tenancy. They provide tenants, landlords and agents with security by accurately recording the condition of the property and its contents.
Prior to a tenant moving into a property, they will be required to pay a tenancy deposit. This is usually equivalent to five weeks' rent and must be protected by a government-approved tenancy deposit protection scheme. The deposit is held throughout the tenancy and is typically returned in full once the tenant moves out. However, if the tenant causes damage to the property beyond reasonable wear and tear, part or all of the deposit may be withheld by the landlord or letting agent to help cover the cost of repairs. This is where inventories become essential.
What is an inventory?
An inventory is a detailed report that records every feature of the rental property and any contents included within it. Inventories are not only for furnished properties; they should also be completed for unfurnished and part-furnished properties. The report includes photographs of any furniture provided to the tenants, along with the fixtures and fittings in every room. Alongside the photographs are detailed descriptions of each item's condition at the start of the tenancy.
At Regency Properties, we carry out these inventories ourselves. However, many landlords and letting agents choose to instruct independent third-party inventory clerks to compile these reports.
Why are inventories so important?
Inventories are essential because they provide a comprehensive record of the property's condition and contents before the tenancy begins. The inventory is completed prior to the tenancy commencing and is signed by the tenants at the start of the tenancy. By signing the inventory, the tenants acknowledge the recorded condition of the property. This confirms that any existing damage or defects were present before they moved in and cannot later be attributed to them. As a result, their deposit cannot be deducted for those pre-existing issues when they move out.
If an inventory is not completed, there is no evidence of the property's condition before the tenancy commenced. This can make it difficult to determine whether any damage occurred during the tenancy, potentially leading to disputes over the tenant's deposit.
By contrast, a completed inventory provides tenants with evidence they can refer back to throughout the tenancy. It also protects landlords by clearly documenting the property's original condition. If a dispute arises at the end of the tenancy, the inventory is an important piece of evidence for the adjudicator who reviews the case. Without sufficient evidence, an adjudicator is unlikely to uphold a landlord's claim for deposit deductions. This is why completing an inventory is so beneficial for everyone involved.
Here's a brief overview of what should be inspected:
- Walls and ceilings: Check for scuffs, paint touch-ups, hairline cracks and damp patches.
- Flooring and carpets: Look for stains, burn marks, threadbare patches and loose floorboards.
- Windows and doors: Test that they open and close smoothly, and check window seals for mould or cracks.
- Kitchen: Turn on the taps, test the hob and oven, and check that the fridge and freezer are clean and in good working order.
- Bathroom: Look for chipped tiles, leaking taps, running toilets, slow drains and signs of mould or mildew.
- Furniture: Record any scratches to wooden furniture, tears in upholstery or sagging mattresses if the property is furnished.
- Meter readings: Record the gas, electricity and water meter readings, and take photographs of each meter.
- Safety equipment: Test that smoke alarms and carbon monoxide detectors are present and working correctly.
- Keys and extras: Count all door, window and mailbox keys provided, ensuring they match the inventory.
If tenants take time to carefully go over the first inventory and keep on top of any issues throughout the tenancy then it is unlikely there will be any disputes. General wear and tear is taken into consideration, during any tenancy the carpets will wear slightly and small scuffs and scrapes can occur, these issues should not affect the deposit.
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