Will the Tenant Fees Act Result in Inventories Being Taken Back In-House?
Back in the day, there were no such things as inventory companies, and letting agents had to undertake inventory on their own. This meant employing an inventory clerk, or clerks, and supplying them with a clipboard, paper, biros, and a camera. The inventory clerk may also have had other duties to attend to and, bearing in mind that you had to send rolls of film off to have the photos produced, completing a full inventory could take from several days to a couple of weeks.
Then along came inventory companies who did nothing else but carry out inventory, so letting agents who used their services didn’t need to employ their own inventory clerks. However, the introduction of the Tenant Fees Act 2019 may well encourage some agents to take inventory back in-house, and it has been suggested that this may result in inventories not being as accurate as those done by an independent company.
However, writing in The Negotiator magazine, Frances Burkinshaw says that she started her business in the 1970s when there were no inventory companies and she employed her own inventory clerks and trained them thoroughly. She said that times changed, and she invested in technology, doubtless using a free inventory clerk app such as the Reports2Go app, but that she would never be persuaded that an outside company would do a better job.
She does say that if companies take the matter in-house simply in order to save costs without ensuring that their staff are thoroughly trained, then certainly there would be problems. She expects that the inventory costs would now be charged to the landlord, but that this may mean losing business. She emphasises that technology can help with this and that many tech companies provide software to carry out the work in-house, which is a worthwhile investment. Furthermore, staff should be made to attend external training courses so that they can fully understand what is required of them, and also gain qualifications.
Burkinshaw also disagrees that in-house clerks are biased towards the landlord and against the tenant. In her experience her clerks often never met the landlord but did meet the tenant so it might be assumed that they would be biased more towards the tenant, but as far as she is concerned, they remained completely impartial.
A comprehensive inventory will always be an integral part of letting a property, and Burkinshaw says that she is sure inventory companies will continue to thrive.
Dan, 02 January 2020
- What should you check for when inspecting your Lettings Property?
- Some things you need to know about Mid-term inspections as a Landlord
- The Reports2Go App makes Property Reports simple
- Why you should carry out Interim Inspections as a Landlord
- Why Check-In and Check-Out Reports are important for Tenants
- Some things to consider if you are thinking of buying a BTL
- The clever way for Letting Agents to create Property Reports
- Our FREE app makes Inventory Reports so much easier
- What to do if your Tenant has Damaged your Property?
- Inventory Reports and Check-Ins – are both really necessary?
- Who should pay for Property Cleaning - Tenants or Landlords?
- Is a Check-in Report Really Necessary?
- New plans and improved resolution for images
- Overheads of being a Landlord
- It is Critical that Inventory Reports are Accurate
- Mid-term Inspections of your BTL are Essential
- Minimising risks with proper tenant checks
- Making a Claim on a Tenant’s Deposit: What you need to consider
- The Importance of an Inventory for Tenants
- Things to note when conducting Check-In/Check-Out reports
- Our App saves a huge amount of time carrying out Inventories
- 5 Handy Screening Topics for New Tenants
- Busting Property Management Myths
- Six Money-Saving Tips for Landlords
- Rules for Tenants and Pets in 2021 - What are the Changes?
- As a Landlord you need to carry out Interim inspections
- Giving your Feedback on an Inventory as a Tenant
- Inventories made easy with Reports2Go
- New to Letting? What you should know about Property Reports
- Three Pillars of Good Property Management
- How can PropTech reduce your Property Inventory burden?
- Choosing the right Rental Management Strategy
- Some Tips for Promoting your Letting Agency Business
- The Importance of an Inventory to you as a Tenant
- Some Ideas to Consider in Order to Reduce your Overheads
- Legislation Concerning Landlords and Tenants is Constantly Changing
- What’s your Property Management approach?
- How to maintain a Positive Relationship with your Tenant
- How important is a Condition Report?
- Tools for New Landlords and Property Managers
- The Check-in Process in the Reports Cycle
- Doing an Inventory: Part 5 - Enhancing the Report
- Doing an Inventory: Part 4 - Finishing Up
- Doing an Inventory: Part 3 - Describing Items
- Doing an Inventory: Part 2 - At the Property
- How to do an Inventory: Part 1 - Preparation
- All you need to know about Property Reports as a Tenant
- Use the FREE Reports2Go App to Speed-up Inventories
- Using on-board Dictation Software for Reports
- A guide to Inventory, Check-In, and Check-Out reports
- Reasons for Landlords to carry out Mid-term Inspections
- How to Carry out an Inventory Quickly, Accurately, and Easily
- What does an Inventory Clerk do, and should I hire one?
- Inventory – A Guide for Tenants
- Things to keep in mind when conducting a Check-in Report
- Free Schedule of Condition - Why You Need it
- End-of-Tenancy clean? All you need to know
- Reports During Covid - 19 Restrictions
- Mid-term inspections as a Landlord
- How to avoid Deposit Angst with the Reports2Go app
- The Importance of the Reports2Go App for Inventories
- All about the Reports2Go App
- The Importance of an Inventory for a Tenant
- Dictation makes for a much faster and more Accurate Inventory
- How the Reports2Go app works
- Free Property App
- Completely Free App
- Tenant Fees Act and Inventories
- When you have a lot of Inventories, Reports2Go will save you time
- Periodic Inspections and why they are good idea
- Inventory meets the 21st century with Reports2Go
- Our App saves you a lot of time on Mid-Term inspections
- What is an inventory and why have one?
- Text Mode
- Audio Mode
- Our Inventory App
- Inventory Associations
- The life cycle of a Report