Archives August 2020

The Importance of an Inventory

Picture the scenario: you let a tenant lease out your beloved home which was once, perhaps, your family home. Maybe you know the tenant already, or perhaps you just have a feeling they’re trustworthy people, so you don’t think an inventory is necessary… Fast forward to six months or a year down the road and those tenants have decided to move on. So far so good.

Before their moving day comes, you go to them and you see the wallpaper is ripped, there are marks on the paintwork, footprints on the mats, an enormous scratch on a worktop. You’re not best pleased at the very least, and you point out the issues.

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You gently ask the tenants to resolve these problems before they move out but, to your horror, they let you know that it was that way when they moved in! You had taken a deposit but you have absolutely no evidence to claim that this damage was done during the tenancy because you have no inventory. And the tenants are denying all responsibility. What can be done? The answer is, pretty much nothing.

Regrettably, this will generally need to be chalked up as a lesson learnt and in the meantime, you have to devote your rental income to the maintenance and aren’t able to get a brand new tenant straight into the property.

An inventory is a binding legal document which provides a precise written record of the condition and contents of a home at the start of a tenancy.
It’s never ever been the law that you have to get an inventory, but if you do have one, one that is preferably prepared by an independent business, it will make life easier for you to be able to deduct monies from a tenant’s deposit to make good any damage done.

The Importance Of An Inventory

The inventory is only good if it’s accurate, so all defects have to be observed. Some landlords don’t realise that, although descriptions can appear uncomplimentary, it’s these descriptions that will enable them to confirm whether a tenant caused harm. Therefore, they need to be known.

Photographs are usually invaluable to go along with explanations. The images are going to immediately show the difference between a property on moving in compared to moving out. It’s an easy guide, but there should also be a written description of what has changed.

It’s suggested that a home is cleaned to a professional standard for the beginning of a tenancy, paying specific care to carpets, upholstery, curtains, bathrooms and kitchens. If something is soiled at the beginning of a tenancy a tenant can’t be charged to clean it at the conclusion. Landlords may also be encouraged to remember all receipts.

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When a tenant is prepared to transfer right into a property, they need to proceed through the inventory carefully and also sign to accept the problem inside the article is as stated. If they have some discrepancies, they should be rectified or mentioned on the listing and initialled.

4 Important Elements of Choosing A Good Letting Agent

If you’re a landlord, precisely how can you tell which letting agent to work with? At Looksy, we’ve worked with many different agents, and we can let you in on some of the secrets of what you should be looking for when you are ready to engage one to help you rent your property.

Marketing

When you pick a letting agent, they should have good knowledge of the area in which your property is located. They should also be able to market your property effectively with a powerful online presence and a user-friendly website (the property portals are certainly useful, but they shouldn’t be relied on; a website is also absolutely crucial).

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Images

The images used on that website or portal are also extremely important. Check them out to make sure they are of high quality, that they look appealing. In other words, when you look at the images of the properties that are already up for rent with this agent, are you put off by the photos, or are they attractive? Plus, have they taken the time to complete a floor plan? Floor plans are something that many prospective tenants are keen to see as it helps them to visualise the property better, and saves them, you, and the agent a wasted viewing if it’s not laid out as they would like, or it’s too small (or even too large) for their needs.

Letting Agent Paperwork

A great letting agent will help to make sure that you, a landlord, fulfil all of the legal requirements you need in order to rent your property. This includes EPCs, gas safety certificates, and deposit protection. They have to keep updated with all of the new laws to help you stay compliant.

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Moving In

Does the agent have a separate move in team such as an unbiased inventory clerk? Is your agent considering each step of the system from offer acceptance to move in? The latter is a crucial area usually forgotten by agents and screwing up in this specific area might end up in the let falling through.

Call Looksy Inventories today if you need help in ensuring that your tenants are moved in safety and securely, and that your property is protected throughout their tenancy.

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