A guide to Inventory, Check-In, and Check-Out reports
However well a tenant takes care of a property, the fact is that it will not be in the same condition at the end of the tenancy as it was at the beginning. There is bound to be wear and tear, most of it hopefully fair. For instance, carpets gradually get worn in traffic area, curtains and linings fade as the sun gets to them and appliances will wear out gradually over time.
A condition report , followed by a check-in report , at the start of a tenancy makes for a great start. The condition report, or inventory as it is also known, needs to be as accurate as it can be, and this is in the interests of all. The tenant’s security deposit under the Tenancy Deposit Scheme at the beginning will be best protected by an accurate set of reports. Fair wear and tear can be accounted for and any other damage can be identified and appropriate deductions agreed. The landlord is not entitled to any deduction for fair wear and tear; it is an overhead and is to be expected. It is a part of the landlord’s cost of doing business.
Regular mid-term or periodic reports are intended to ensure that a tenancy is continuing on agreed terms with, for example, no pets or smoking permitted. Mid-term inspections are quick and also provide an opportunity for the tenant to highlight issues with the property. They also act as a good base to establish rapport between the tenant and the agent or landlord. Mid-term inspections provide an evidence trail as to the ongoing state of fixtures and contents and trackability with regard to fair wear and tear.
Finally, there is the check-out which completes the cycle of reports. The check-out report will capture the state of the property at the end of a tenancy. It will be used to trigger any discussions about deposit claims. All of this, of course, assumes that reports are accurate and that nothing is omitted.
Within the cycle of reports are also statements of meter reading and the checking of alarms.
Creating an inventory report is time-consuming and with a large portfolio that overhead is significant, yet it must be done.
At Reports2Go we have produced an app which helps speed up process of taking an inventory and make it as accurate as it can be. It supports the full report lifecycle. It is free to use. It can be downloaded from the App Store or Google Play. It works equally well with phones and tablets. The app can be used in one of two different modes, either text or audio.
Dan, 04 September 2020
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