What you should know about property inventories

Thanks to uPad for providing this article. Get 50% off your first listing. An inventory is a report that details the condition of the property at the start and end of a tenancy. It is signed by both the tenant(s) and the party carrying out the inventory check (usually an inventory clerk).

Thanks to uPad for providing this article.  Get 50% off your first listing.

An inventory is a report that details the condition of the property at the start and end of a tenancy. It is signed by both the tenant(s) and the party carrying out the inventory check (usually an inventory clerk).

Things included in an inventory:

• exterior of the building;
• furnishings (i.e. sofa, washing machine, TV);
• property particulars (i.e. doors, windows, skirting boards).

When a tenancy has ended, the inventory clerk will compare the state of the items included in the inventory, with the signed state of condition at the start (signed by both the tenants & inventory clerk).

If the items in the property are a) still there, or b) in the same condition as before, then the tenants should not be deducted money from their deposit.

If items signed off in the inventory are not there, or are now in a dilapidated state – the landlord has the right to deduct a reasonable amount from the tenant’s deposit to either: replace the items that have gone missing, or repair or replace those that have been damaged.

Fair Wear & Tear

During the course of the tenancy there will be an element of wear and tear – the property is in constant use so there will be things like scuff marks on the walls or a scraped skirting board. Elements that constitute wear and tear will be taken into consideration by the inventory clerk: who will decide if it exceeds fair wear and tear and crosses into damage to the property and furnishings. Fair wear and tear is an important distinction, as it may be the different between a tenant getting their deposit back with no fuss, and a hearing in front of the Tenancy Deposit Dispute Service.

Thanks to uPad for providing this article.  Get 50% off your first listing.

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Julie Hanson

Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.

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