Landlords Need An Accurate Inventory For Their Property
As tenants are on average staying longer in a rented
property, landlords are being urged to ensure they have an accurate
inventory at the start of the rental period.
Moneyhighstreet.com - 15th February 2012
According to figures from the Association of Residential
Lettings Agent (ARLA), tenants are now spending an average 19.3
months in their homes, increasing the tenancy average by nearly 20%
compared with 2009.
As the length of tenancy increases it is even more important,
for both landlord and tenant, that a comprehensive inventory is
drawn up at the start of each new letting contract.
Ian Potter, Operations Manager at ARLA commented: “Renters
should ensure that a thorough inventory details not only the
contents within the property, but the condition of them as well as
the condition of the property itself.
“This should include fixtures and fittings – such as carpets,
curtains and light fittings.”
Mr Potter added: “Landlords and tenants alike should remember
that disputes over deposit returns can be one of the biggest
headaches facing both parties, but these can be easily avoided if a
professional inventory is prepared.”
With help from ARLA, here’s some top advice for tenants when
moving into a new rented property:
- Use an Association of Professional Inventory Providers (APIP)
member: they offer a recognised standard of inventory provision,
advice and guidance and letting agents who are members of APIP have
been through a training process and have passed an assessment to
demonstrate their abilities in drawing up an inventory and
conducting the check in and check out. A fully qualified member of
APIP will have their name and membership number included in the
inventory.
- Take a photo: taking a record of the property using your
camera at the beginning of the tenancy can help provide evidence to
protect both the landlord and the tenant. Get your photos approved
by the landlord and then both you and the landlord should keep
copies.
- Ensure you cover the detail: tenants and landlords should
ensure that the inventory notes all the contents and features of
the rented property, and that it accurately records their
condition. Avoid using ambiguous words which may not fully explain
the actual condition of the contents and features.
- Check the utility readings: to avoid bill disputes – both
between tenants and landlord, and with energy suppliers – make sure
that accurate and up-to-date utility meter readings are taken, and
that these are included on the signed inventory.
MoneyHighStreet comments: “Getting an accurate inventory at the
start of a tenancy is absolutely vital for both parties.
“It’s not just this though, both landlords and tenants also need
to consider insurance too.
“Landlords cannot rely on standard home insurance to cover their
rental property. There is specialist
landlords insurance.
“As well as buildings insurance, there’s other aspects of
insurance that need to be included, such as accidental buildings
damage insurance, landlords liability insurance, loss of rent
insurance and alternative accommodation insurance.
You can get a landlords insurance quote online quickly and
easily, if you like the cover and price you can buy it there and
then too.
“As a tenant you are responsible for your own contents and as
such need to buy contents insurance to meet your needs.