What Is An Inventory

An inventory is a vital part of the residential and commercial property letting industry. The inventory provides all parties with a clear and concise document which details the furnishings, fittings, contents and cleanliness of the property; along with photographic evidence to support the text. The importance of this document should not be undermined as is ensures that both the landlord and tenants interests are protected throughout the tenancy. This inventory should be carried out by an independent inventory company to avoid any bias observations which could lead to a dispute when the tenants vacate the property.

What Is A Check-in

A check-in report ideally should take place on the starting date of a new tenancy with the new tenants present. The inventory clerk and tenants should use the original inventory to ensure that the condition and cleanliness of the property has been accurately noted. The tenants should then sign the end of the report to confirm that they agree with it and any areas that appear to have been altered since the original inventory took place. The number of keys handed to the tenants should be recorded, as well as the meter readings.

What Is A Mid-tenancy Inspection

A mid-tenancy inspection is carried out to ensure that the property is being maintained and looked after to an appropriate standard during the tenancy. A mid-tenancy inspection may also be under taken if there is a change of occupancy during the tenancy. This document should highlight any key management/ maintenance issues that may need to be addressed before the end of the tenancy, such as water leaks, condensation build up in bathrooms, large settlement cracks forming etc. This type of report can prevent minor issues escalating into more serious ones.

What Is A Check-out

The check-out takes place at the end of the tenancy and should be done when the tenants are sure that the property has been returned in the same condition as they received it. The check-out is compiled with the help of the observations from the original inventory and check-in reports. Based on these original observations, recommendations can be made to define if the tenants are liable for any damages, taking into consideration fair wear and tear. It is entirely up to the landlord if the chargeable recommendations in the check-out report are enforced. End of tenancy meter readings are taken and all keys should be returned to the clerk.