Inventories are important for residential, commercial and lettings agents. A property inventory is a written record of the assets owned at particular location. This document will also signify the price paid and the current value. Most people use inventory service for tax or insurance purposes.
This type of inventory service is designed to protect your most valuable asset. Dilapidation reports may also be included with the reports. The goal of the company is to provide quality service according to the guidelines provided by the Association of Residential Letting Agents (ARLA). Rental landlords are encouraged to acquire this documentation before it is occupied, according to the Tenancy Deposit Scheme. These documents can save time and money by providing evidence of the condition. This document will help owners avoid property disputes and deposit disputes.
Obtaining inventory services is not difficult. Several agencies provide this service at reasonable prices. Inventory clerks will list the fixtures, carpets, curtains and furnishings, if provided. Photographs may also be included in the inventory report. The report should be drafted by independent inventory clerks. Otherwise the document may not be valid in a court of law.
When new tenants move into the new location, a check-in report is required. Most landlords prepare the report on the day of move in. Each item on the inventory check list will be reviewed. The preparer will note whether or not the inventory item is available in the home and the condition the item was in upon move in. Keys are issued and all meters are checked to ensure that they are working properly.
The check out report is issued at the end of the tenancy period. The condition of the assets will be compared to the condition at the time of occupation. This report is typically conducted before the cleaners actually perform their duties. Photographs will be taken as documentation of the condition upon move out date. The reports do allow for normal wear and tear but not extensive damage.
An Energy Performance Certificate (EPC) may also be included with inventories. This report provides suggestions about how to make a building more energy efficient. The EPC database will file the report for future reference. When the Inventory Report is completed, the report will be included with the Energy Performance Certificate (EPC) report.
The price of a London inventory is fairly reasonable. For instance, an Inventory Report and Check In Report for a one bedroom apartment is approximately £120. The check out report is approximately £80. These reports are fairly reasonable considering the service they provide. The prices vary depending on the type of domicile. The larger the structure or space, the more expensive the report costs. In addition, some companies offer same day service. London inventories are a convenient service for many landlords.
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