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What is it?
Property inventory report compiles the information about the rental property condition before, during, and after the tenancy. The description of the condition is explained in writing, such as “good condition” or in photos such as possible cracks in the walls.
Why do I need it?
The property inventories are created to protect the landlord and the tenant from maintaining the transparency of the deposit payment returns. With the property inventories, both the landlord and tenant can view in what condition the property was before the tenancy agreement and after it so that the returned deposit sum is correct and in line with the possible damage of the property.
The property inventory report is also important in relation to meter readings so that the tenant will not be paying for someone else’s electricity or gas usage or that the correct utility numbers are reported to the landlord and they will not end up paying tenants’ gas or electricity.
Before, during and after the tenancy.
It is good to make a property inventory report right before the tenant moves in. The report should state clearly if there are any issues with the condition of the flat before the tenancy agreement starts. It is recommended that the tenant approves and signs the report as well.
Some landlords also conduct the property inventory reports during the tenancy agreement to check the property's condition. This makes it possible to compare it with the created “before” report. In this case, the landlord is required to give a notice 24 hours before entering the property.
Lastly, after the tenant has moved out, the landlord often conducts the report and compare the “before”, “during”, and “after” reports with each other to notice any new significant damage in the property. The landlord can prove whether the tenant has treated the property right and if the landlord should return the whole deposit sum. At the same time, with these reports, the tenant can prove if they have not done any damage to the property, and therefore, the landlord is required to return the entire deposit.
In Cloud Estates, we will manage the property and take care of the property inventory report for you.
Contact us for more information and get a free valuation of your property today!
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Cloud-Let have just won the British Property Lettings Award for Newcastle upon Tyne (NE2-3), for the second year running. Our team performed outstandingly throughout the extensive judging period, which focused on customer service levels. Cloud-Let have now been shortlisted for a number of national awards which will be announced shortly. The British Property Awards provide agents throughout the UK with an invaluable opportunity to compare the service that they provide against the service provided by their local, regional and national competition. Agents who go that extra mile and provide outstanding levels of customer service are rewarded with our accolade, which acts as a beacon to highlight these attributes to their local marketplace. THE BRITISH PROPERTY AWARDS are one of the most inclusive estate agency awards providers as they do not charge to enter. This has enabled their award to be structured in a manner that ensures maximum participation, on average judging over 90% of agents that meet their minimum criteria on a local level. The team personally mystery shops every estate agent against a set of 25 criteria to obtain a balanced overview of their customer service levels. The judging criteria is periods to ensure that agents have been rigorously and fairly judged. Robert McLean from The British Property Awards said “Our awards have been specifically designed to be attainable to all agents, removing common barriers to entry, such as cost, to ensure that we have the most inclusive awards. Our awards have also been designed to remove any opportunity for bias or manipulation. If an agent has been attributed with one of our awards, it is simply down to the fantastic customer service levels that they have demonstrated across a prolonged period of time. Winning agents should be proud that their customer service levels provide a benchmark for their local, regional and national competition”. A big thank you to the British Property Awards for giving us the opportunity to showcase our dedication to providing excellent customer service. Contact Cloud-Let today to find out how we can help you on your property journey.
