All residential tenancy deposits must, by law, be protected and lodged in a government-recognised scheme, such as the Deposit Protection Service (DPS), which is where we, at Grace & Rose, protect our tenant’s deposits. The DPS is evidence based, meaning that the decision to either return or withhold a deposit at the end of a tenancy is made by considering any differences between the condition of the property at the beginning and the end of the tenancy.
This can only be achieved when a formal inventory has been created. This is as important in respect of unfurnished properties as it is for furnished ones, because a good inventory is not just a list of contents, but also a statement of condition of those contents and the actual fabric of the building e.g. floors, skirting boards, walls, ceiling, sockets, switches, bathrooms, kitchens, literally everything.
Whilst the tenancy agreement may have a clause stipulating that the property must be returned in the same condition in which it was initially taken, how can this be proven without a schedule of condition?
There are several reasons to have an inventory prepared apart from the obvious one relating to identifying missing contents.
Perhaps a tenant has broken something and has replaced it with an inferior substitute – possibly one that does not comply with a landlord’s legal obligations, such as a non-fire-retardant sofa.
An inventory also prevents tenants from requesting repairs or improvements to things that were actually evident at the time of letting. Additionally, when a tenant knows that every item and its condition has been recorded, they are more likely to treat the property with the respect it deserves.
Ideally an inventory should be produced by a professional inventory clerk who is independent of the landlord or his/her agent. Such clerks are trained to record the property’s condition to a set of consistent standards, which is invaluable if a different person undertakes the check-out inventory to the person who conducted the initial one.
Of all the costs associated with letting and protecting your investment, the small cost of producing a watertight inventory is probably one of the most important for your own peace of mind.
Why not call us on 01277 230300 to see how we could help manage your rental property.
20th January 2018
Grace & Rose Estate & Letting Agent
If you are looking to move home in the near future, or need any advice with regard to selling or letting your property, please don’t hesitate to call either myself, or one of our team at Grace & Rose, your local, independent, family run Estate Agents in Billericay 01277 623010 and Brentwood 01277 230300 – book your free market appraisal https://graceandrose.co.uk/contact-us/ or email me direct on firstname.lastname@example.org
We also cover Shenfield, Chelmsford plus the surrounding villages including Blackmore, Bobbingworth, Chipping Ongar, Doddinghurst, East Horndon, Fryerning, Great Baddow, Great Burstead, Great Warley, Herongate, High Ongar, Hutton, Ingatestone, Ingrave, Kelvedon Hatch, Little Burstead, Little Warley, Moreton, Mountnessing, South Woodham Ferrers, Stock, Stondon Massey, The Lavers, The Rodings, West Horndon and Writtle.