The Importance of an Inventory

Landlords across the UK have been advised once again that the ever changing face of the rental market means they need to keep tabs on how they deal with tenants and their contracts.

It is not uncommon for people to stay in a landlord’s home for a number of years, which can cause issues when a period of occupancy eventually comes to an end.

For example, the issues surrounding the security deposit and how much of it is returned can cause friction at times, with either party disputing damage or deterioration of products and fittings.

This has led to the Association of Residential Letting Agents (Arla) coming in to advise that it is vital to keep an effective, in depth and detailed inventory which everyone agrees to prior to the contract being signed.

Ian Potter, Arla Managing Director at Arla said:”Property deterioration during full time occupancy will only intensify as the demand for rental accommodation continues to rise. Creating an inventory that is agreed between the landlord and the tenant, and evidenced, can help to clarify situations where items get damaged, lost or stolen”.

The company advised that evidence can be a good way to keep both parties happy, as it will mean that everyone has no way to claim things were different to how they really were at moving in date. Photographs are the best way to do this.

In addition to this, Arla said being concise and descriptive will work well, as vague descriptions leave issues open for interpretation.


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