When Do You Need An Inventory?

by Apr 15, 2020

When Do You Need An Inventory?

There are several situations where you will need an inventory schedule of conditions, some examples might surprise you.

Property inventory services beneficiary landlord couple

1. Before Letting Out 

This is straightforward, the most common case you have a property that recently has been vacant and you need to let it out to a new tenant. You might do several redecoration improvements, fix any maintenance issues or even fit new appliances. You will then need to protect this investment so you will hire an inventory service provider to draw up an inventory list to detail each item and its condition.

Woman and man moving in and inventory checker

2. At The Start Of The Tenancy

When you have sourced new tenants and they are ready to move in, you will have to hand them over the Inventory List, they will then have a short period, usually, 7 days to check and acknowledge, or contest the conditions stated in the inventory report. Most reputable letting agents and Landlords will hire an Inventory clerk to hand over this Inventory List, hand over keys, check meter readings and record signatures. This new document will be called the Check-In Inventory. At Trust Inventory we can combine the Inventory List with the Check-in, so you only pay once and receive one document that has the inventory, tenant’s comments and signature all incorporated.

Tenant couple ready for check-out inventory

3. At The End Of The Tenancy

When the tenant is ready to leave the property, professional home inspection has to be carried out to see if there are any changes to the property and its condition. The inventory clerks will assess the condition of the property against the original inventory report, taking into consideration the length of the tenancy and type of occupancy, in order to leave room for the acceptable Fair Wear and Tear.

Agents, Landlords and/or Tenants can sign, share and comment on reports, as well as upload new photographs right in the browser for effective and evidenced dispute resolution. Everything in one document, no need to store files, photos, multiple versions of the same document.

Family reunion around dying man inventory services

4. Inheritance

We have had a couple of requests from individuals that wanted to make sure when it comes to taking care of the Family Inheritance they will be handed over their family owned properties with all its belongings and in the expected condition.

Unhappy couple sitting on bed inventory service

5. Separation Or Divorce

In a few instances, we have been approached by one of the members of couples that were in the separation process. One of the individuals has moved out of their jointly owned property, however, the other partner started selling items from the property. In such a case we can make sure by the time the divorce becomes effective, the parties will have a record of the items they commonly own.

Inventory clerk with tenant couple holding hands

6. Buying/Selling property

During our waste experience in the property inventory industry, we’ve seen situations when potential buyers visited a property that they wanted to purchase, but by the time the purchase has gone through, the property didn’t have all the items the prospect saw at his visit.

At Trust Inventory we provide comprehensive detailed notes and photographic reports listing the content and its condition within a property. All inspections provide meter readings and test results for smoke/carbon monoxide alarms. The inventory will also detail keys, appliance user manuals and a short property summary overview.

You will not have to print, manipulate, mail, sign, chaise, file returned check-in, store documents and photographs. On average, our clients save +£200 every month by using our services.

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