Property inventories are documents reporting the state of a given property, its contents and the time of assessment. These are done twice identically, once when the tenancy begins and once at the end, as an inventory and checkout.

1. Property inventories are documents reporting the state of a given
property, its contents, and the time of assessment. These are done twice
identically, once when the tenancy begins and once at the end, as an
inventory and checkout.
The most significant bit of the inventory assessment is the Schedule of
Conditions. This details the state of every part of the property, including
floors, walls, ceilings, decor, etc. Landlords may think that this is only
regarding fixtures and fittings.
Having the two documents allows both sides of a tenant-landlord
agreement to know exactly what has changed during the tenancy's
length.
Having the documents on hand will lessen the chance of disputes, making
the process of exiting a tenancy straightforward and streamlined.
As a tenant, you have the right to be present when the checks are done.
Thai ensures the person conducting the check won't miss anything, but
it's still a good idea to check out the document in detail before it is
completed.
Who Conducts the
Inventory
The landlord, a letting agent, or an independent inventory
clerk may compile inventories. Independent inventory
companies need to be a member of a professional
association so you know you are dealing with a reliable firm
in the process of your tenancy.
Why You Should
Set Up a
Set Up a
Property Inventory
Conducting an inventory gives both parties an accurate assessment of
the state of the property.
The property's inventory shows areas that need to be addressed and who
is responsible for their repairs.
The document will help tenants on how the property needs to be returned
to the landlord and provides a guideline on how the home must be
maintained.
Inventories help make a difference between damage and wear and tear,
Property inventories help the landlord's investment and the tenant's
deposit.
Going through the inventory helps lessen the chance of disputes when the
tenancy is over.
If a dispute happens, having an inventory helps ensure you get the right
results and consensus.
openestates.co.uk