Residential lettings inventories explained Tenancy Deposit Scheme Overview..... What is an inventory ? Why do I need an inventory ? An inventory is a binding legal document, providing an accurate record of the condition and contents of a property at the beginning of a tenancy. It forms part of the Tenancy agreement between a landlord and tenant. All defects and soiling must be noted in detail in the inventory in order to ensure that a landlord is able to prove whether a tenant caused damage or is liable for cleaning costs. Many landlords who let property think that a list of items is adequate. However, if a dispute arise you may have to go to court and a simple list of items will not be of much use. For problems with tenancies created after April 2007 landlords will be bound by the UK government?s Tenancy Deposit Scheme arbitration decisions if a deposit is taken from a tenant. An inventory clerk will prepare a detailed inventory and supply three copies of the document, one each to the tenant, landlord and a managing agent (if applicable). The inventory prepared for a tenancy ?check in? at the start of a tenancy will include details of each room / area of the property, for example: The condition of decorations and fixtures and fittings. A full list of furniture and other contents. Gardens / outside spaces, which are usually described in more general terms. Lofts, cellars and similar areas are not normally listed unless requested. Fair Wear and Tear This is an area of major concern. A tenant cannot be held responsible at the end of a tenancy for changes to a property's condition caused by what the House of Lords has called "reasonable use of the premises by the tenant and the ordinary operation of natural forces (i.e.. the passage of time)." An experienced inventory clerk will use their experience and common sense to assess the many factors present before reaching a judgment as to how much should be allowable for Fair Wear and Tear. Prove the contents and condition of a tenanted property at the tenancy end. Without an inventory report it may prove difficult for a landlord to make a successful claim against a tenant for damage, repairs, missing items or cleaning costs etc. Tenants should also be aware that if an inventory does not include sufficient notes on the condition of items at the start of the tenancy, they may be charged for damage or cleaning that is not their liability. An inventory is essential:- To ensure that landlords have a secure basis for claims against a tenants deposit. To ensure that tenants are not held responsible for inappropriate charges. To ensure that tenancy negotiations on the deposit can be dealt with quickly and easily. A detailed inventory should demonstrate to tenants that landlords are serious about the condition of their property and tenants are reasured that deductions from their deposit at the tenancy end can be fully justified and transparent. Choose your inventory solution now..... Tenancy Deposit Scheme Overview.....