What is a Landlord Property Inventory?
A Landlord property Inventory is a report which records the condition of the rental property (and the itemisation of goods and their condition.
The best Landlord Inventories cover every aspect of the buy to let investment property. This includes everything from the colour of the walls, the brand of the white goods, the make of the furniture etc. The more thorough the inventory is, the greater the protection both landlord and tenant has.
Is a Property Inventory required?
Although Inventories aren’t legally required, every landlord and tenant should ensure there is one in place. Inventories are for the gain of both landlord and tenant, because if there is a dispute over an item or condition of the property, the inventory may return the appropriate answers.
Where can I get an Inventory?
There are professional companies that solely dedicate their services to creating professional inventories. An inventory clerk will make an inventory, give a check in report and do a check out report. However, they will charge a premium for the service. Alternatively, landlords can construct an inventory themselves. There are pre-made inventories available from various sources online, which usually cover most of what is required. We have a free landlord inventory form for anyone to download and use as a basic guide.
If you want to use a professional inventory clerk, you can contact your local letting agent and they should be able to get the name and telephone number of one.
What should be inside the Inventory?
A standard Inventory will typically contain the following:
- Landlord: the name of landlord
- Tenant: the name of tenant
- Date: the date the inventory was taken
- Term: the date the tenant moved in
- Address: the address of the rental property
- List of all items: a list of all items, broken down per room
- Condition of all items: condition of every item – note down any faults or existing scuffs
- Condition of doors/windows: condition of all doors and windows, ensuring everything open, closes and locks properly
- Condition of Flooring/Carpet: condition of tiles, carpets, hardwood floor and laminate flooring, noting down any faults or scuffs
- Signatures: both landlord and tenant should sign the Inventory (they should have one copy each), agreeing to what has been recorded.
To avoid any doubts whatsoever, it’s good practise to take photos (or even a video) to supplement the written list. This is especially advised for expensive items, as well as expensive fittings like carpets.