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You might be excused for assuming that all property inventory services are the same and that all you have to do is choose the lowest service provider and you’re set.

Of course, that’s not the case at all…

As you are aware from general life experience, standards vary widely from top to bottom in any service business. This is why it’s important to get at least three quotes for anything (including inventories) so you can not only compare costs, but also the quality of the report. Remember, you might want to pay a little more for a better quality report because that report could save you a huge amount of money later on. This brings us to the topic of this blog post; your property inventory and the main reason for having one.

Tenant Disputes Are A Very Real Thing

As a landlord or letting agent, you rapidly discover that not all tenants are made equal. Some are amazing; they take care of the property, pay their rent on time, and if anything does need to be done around the house or flat, they’ll politely request the fixes without leaving things too late and costing you more than you would otherwise have had to spend.

And then there are the other kinds of tenants. They don’t care about the property, they are late with their rent (if they pay at all), and they either constantly demand that you fix minor issues, or they don’t tell you about a problem so that it causes a huge amount of damage.

And this is why you should seek the best-in-class property inventory service rather than the cheapest inventory service, assuming they are two different things (it might be that the best is also the cheapest – it’s certainly possible, as any client of Looksy Inventories knows well). There could be a big difference.

In essence, your property inventory report serves as the basis for your legal defence if you find yourself in a legal conflict with a troublesome tenant. It is your word against your tenants in the absence of such a report.

In any case, if you carefully record the status of your home and its assets with precise photographs and descriptions, then get the tenant to sign off in a mutually agreed-upon contract, your chances of recouping money for damages are much better. Your inventory report is a kind of insurance against any mishaps – intentional or otherwise – that your tenants might fall victim to.

Ask To See An Example Property Inventory Report

Of course, it’s always difficult to break away from your current provider, even if you’re not happy with the price you’re paying or the reports you’re getting. Who knows? You might end up in a worse position if you choose to move. However, it’s entirely possible you’ll be in a much better position – a safer position – if you make the switch too. So what can you do? The answer is to make sure you ask to see an example property inventory report. Any good inventory clerk will have one or more to show you, and you can see exactly what you’ll be getting.

As professional and experienced inventory clerks, we’ve seen many different inventories. Some are a joy to go through and work from when conducting a checkout, for example. Others are scrappily put together, missing many elements, and that makes our job harder, the landlord’s claims more difficult, and the inventory itself worthless.

Make sure your inventory records are always accurate and professional since you never know when they may be needed in court.

If you’re looking for a seasoned property inventory partner, get in touch with us now to see how we can provide you with peace of mind for years to come.

What a strange question, right? How to use your inventory? But it’s not all that strange when you think about it, and that’s exactly what this post will be about. The issue is that most landlords (and tenants) don’t use their property inventory in the right way. They book it and look through it (an excellent start) and then don’t think about it again until after the tenant has moved out.

What landlords (and tenants) really should be doing is looking at that report and any interim reports (also known as mid-term inspections) when the tenant gives their notice to leave the property. Leaving it until after they have gone might be too late. Let’s look into this in more detail.

How To Use Your Inventory As A Reminder

When you think about how to use your inventory, the first thing to consider is that it can be a perfect reminder of the condition the property was in at the start of the tenancy. By reading through it, and by encouraging your tenants to do the same, you’ll get a better idea of what to expect when they leave.

In fact, gently reminding the tenants that they need to leave the property in the same way they were given it, and that all the information they need to enable them to do that is in the property inventory is a good idea. Remind them of this, and also remind them that their deposit relies on them getting this right. The inventory will be the ideal roadmap to help them put things back how they found them, leading to fewer instances where a dispute has to be raised.

How To Use Your Inventory As A Predictor

Another good use for your inventory is to give you an idea of what to expect when the tenant leaves. Although the original inventory won’t necessarily help here, the interim reports will. They will show you how well the tenant is taking care of the property, and you’ll have a prior understanding of what state the property will be in when they leave. If they haven’t taken care of things during the tenancy, it is likely they won’t take too much care when they leave either. However, if the interim inspections have shown they’ve been looking after the place, you probably don’t have too much to worry about (this is not guaranteed, of course, but it’s a good rule of thumb).

Once they have left, no matter what the property is like, you can compare the check-out report to the original inventory and immediately see if there are any issues. This means there will be no delays in any action needs to be taken – remember, if you do nothing, the tenants have a right to their deposit back within 10 days of vacating the property, so if you want to make a claim, you need to do it asap.

Want To Know How To Use Your Inventory? Contact Looksy Inventories Today

At Looksy Inventories, we are experts when it comes to property inventory reports, check-ins, check-outs, and mid-term inspections. We can handle every report you need, and we’ll do it in an unbiased, efficient, professional way. Simply get in touch with us today to book your inventory or to ask questions; we’ll be happy to answer them.

It’s possible that when your tenants move out, you’ll be faced with a long list of repairs and replacements. Even if all it takes is a fresh coat of paint or a few screws to secure some wobbly shelves, preparing the home for the next set of tenants may necessitate investing more time and money on your side. This can include the need to hire an inventory clerk.

Inventory and check-out reports, such as those generated by Looksy Inventories, are essential if your tenants are causing damage or loss to your property and leaving it unsuitable to rent. In order to avoid paying out of pocket, you may use the proof in these documents to legally keep some or all of your tenant’s deposit.

There are a lot of landlords out there who don’t know where to start when it comes to finding how to hire an inventory clerk and a company to handle their property management needs. Read on to find out more.

What Does An Inventory Clerk Do?

Before a home can be rented out, you need to hire an inventory clerk to meticulously document the property’s condition and contents. Whether they are individuals or part of a larger property management company, they provide services to clients.

When a renter moves into a property, an inventory clerk will document the current state of each fixture and meter reading. Afterwards, they will return to inspect the property towards the conclusion of the tenancy period. You might also want to hire an inventory clerk to carry out interim or mid-term inspections.

For the most part, the condition of the rental property when the tenant vacates determines whether or not they get their whole deposit back. When a tenant’s tenancy ends, the inventory clerk and the property management team will serve as unbiased witnesses to any changes within the property.

What Do Inventory Clerks Record?

An inventory report serves as documentation of the property’s condition at the beginning of the tenancy. In addition to the furnishings in the house, this covers everything from the state of the appliances to the condition of the windows, doors and locks to the ceiling and walls to the flooring and blinds.

As soon as a tenant moves into a property, an inventory should be agreed upon and updated, if required, by all parties involved. In order to establish that a property has been damaged and should be repaired from the tenancy deposit, an agreed-upon report will be necessary.

How To Hire An Inventory Clerk

Inventories are used on a daily basis by landlords and letting agencies. A new inventory report is needed for each new tenancy, and this report is often created by an inventory clerk. This person might either be employed by the rental firm or recruited on an independent contractor basis.

Inventory clerks can be found by contacting a lettings agency and asking about their methods, or by performing your own search. Search for inventory clerks in Kent or Sevenoaks or Bromley or Folkestone, and you’ll find Looksy Inventories – as well as in many other places in between. Get in touch today if you need to hire an inventory clerk; we can help you.

As a landlord or even as a letting agent, you might think that hiring an expert inventory clerk to carry out your property inventory reports is a waste of money. After all, you could do it yourself and not have to pay anything – it wouldn’t take long, and it’s just a box-ticking exercise, right?

Wrong.

There is a lot more to property inventory reports than ticking some boxes, and, when done right, it’s a long process, sometimes taking many hours for a larger property. Can you really afford to spend all that time in one house or flat when you have other things to do? Let’s look at exactly why outsourcing your inventory reports is a good idea, and you’ll soon understand why engaging Looksy Inventories to help you is the best – and most cost-effective – thing to do.

Why Outsourcing Property Inventory Reports Is Your Best Option

When a third party carries out your property inventory reports, they will be impartial, thorough, and professional. They are objective. This can be hugely important should anything have to go to adjudication.

Inventory clerks are well-versed in all scenarios and have extensive expertise. We know what to look for.

Expert property inventory clerks are focused on providing inventory reports, interim inspections, check-ins and check-outs, so we are specialised and adept at dealing with a variety of difficult and sometimes strained situations (especially at check out) that agency staff may not be equipped to handle.

Specialists provide high-quality, complete inventory reports that are highly regarded by legal organisations in the event of a dispute.

Inventory clerks have the requisite skills, aptitude, and training for the work, which necessitates a different set of abilities than an agency or landlord.

Inventory clerks are highly trained and work hard to ensure that there are no difficulties with the quality of the property inventory reports so that the adjudicators are satisfied.

Each inventory report may cost up to 50% more if performed in-house – inventory clerks save you time and money with their skilled service.

Professional inventory services reflect highly on agents and landlords and improve their image in the eyes of the general public and business customers.

Professional, complete inventory reports impress landlords and show that the agency is offering a professional service and trying to safeguard the landlord’s property by using the best-qualified employees to prepare and furnish these reports.

External inventory clerks provide agencies and landlords a competitive advantage by freeing up their time and money.

Contact Looksy Inventories Today

To discuss costs, book a report, or to talk more about what we can do, please don’t hesitate to contact Looksy Inventories today. We are ready to help you.

Landlords must understand what their tenants want in rentals. What attributes do renters search for in a property? What should landlords look for when buying a buy-to-let property? What turns off tenants?

Some landlords fail to understand precisely what tenants want, while some tenants struggle to locate a house that suits their requirements. In this post, we will discuss the top attributes that tenants look for in a rental and what landlords can do to increase tenant interest.

Location

People wanting to rent homes place a high value on location. Most people want to be near to local shops, facilities, and public transportation, as well as their employment.

Of course, if you already have a rental property, you cannot move it. When considering acquiring a buy-to-let property, landlords should consider the location as well as the sort of tenants it would appeal to.

Tenants prefer not to reside too far away from local facilities. This is particularly true if they do not have a car and transportation options are restricted. It’s crucial to have a supermarket, GP, pharmacy, and other services nearby, and school catchment areas are a key concern for families.

Because location of rentals is a major determining factor for renters, landlords should mention all surrounding facilities in the property advertisement description.

Safety & Security

Every tenant wants to feel secure in their home. Most individuals would not prefer to rent a house in a high-crime area, thus location and safety often go hand in hand.

Renters like the confidence of a functional security system with alarms and robust locks on windows and doors, in addition to the area’s crime rate. As a result, landlords must ensure that the rental property has an operational security system.

Landlords can make their tenants feel safer by installing CCTV, adding additional locks and a peephole to the front door, and ensuring all safety certifications are in place, in addition to having a functional security system.

A mid-term inspection to see the property is also suggested for landlords to check that everything in their property is safe and functional. This also allows the renter to address any questions or concerns they may have.

Outdoor Space

Many renters like having their own outside area in rentals, whether it’s a garden, patio, or balcony. If such possibilities aren’t available, being close to a neighbourhood park is frequently a huge draw for tenants, particularly those with small children.

Having outside space allows residents to enjoy the sunlight during the warmer months, hold outdoor gatherings for family and friends, and have a separate spot to relax in. Outdoor space has been especially popular during the pandemic since individuals were confined to their houses for so long and realised how crucial it was to have that outside space.

If the house has a garden, upgrading and enhancing it might help to attract more potential renters. This demonstrates to tenants that the landlord is concerned about the property and prepared to make adjustments. It may also boost the property’s value.

Open Plan Rentals

Open floor layouts are becoming more popular. Nowadays, many homes include an open-plan kitchen and dining room, which makes even the tiniest areas appear much bigger. This allows renters a lot more freedom, enabling them to use it as a dining room, lounge area, or even an at-home office space. Open-plan layouts are often suitable for student leases and HMO residences with community areas.

Landlords may want to consider demolishing a wall in their kitchen or living room to create a place for an open-plan space. If an open-plan concept is not a possibility, landlords should consider eliminating large pieces of furniture that may take up a lot of space in particular areas.

Parking & Transport Links

Transport connections are a key draw for renters, particularly students and commuters. Of course, you can’t modify the transportation options in your region, but you may emphasise them in your property advertisement. Transport connectivity, as well as the overall location, should be considered when acquiring a buy-to-let property. Nearby bus, subway, or tram stations may pique your curiosity, as will easy access to main roadways, particularly in commuter towns.

Having a dedicated parking place is essential for drivers. If landlords have the opportunity, providing renters with access to a parking area or garage would be much welcomed. This not only gives convenience, but it also adds security by enabling residents to be near to their automobile.

If you are a student moving away from home into leased housing, it can be both an exciting and daunting idea, and there is a lot to think about when selecting the perfect home for the next 12 months. University students and parents often assume that student living is the most cost-effective and socially good alternative, but they fail to consider the benefits of private housing. We give more information on renting a private residence, as well as the benefits of moving into private housing.

What Is Private Housing?

Private housing refers to a property that is held by a landlord – either a person or a property business – and is rented out to tenants. Tenants will often engage through a letting agency operating on behalf of the landlord or directly with the individual landlord.

Costs & Budgeting

Because you have the ability to tailor your expenses to reflect how much you approximately use, living in private housing may result in lower utility costs. Your provider will assist you in determining the best bundle depending on each individual’s daily use. Living with your friends could also help you save money on expenses and help you budget. Remember that full-time students are free from council tax, but you must notify your council that you are qualified in order to prevent getting an unexpected charge.

Bills are included in the rent for some homes for university students, which can be extremely reassuring. You won’t have to worry about finding the lowest energy provider or the best internet packages; all you’ll have to think about is your rent in this kind of private housing.

Location

When initially browsing for somewhere to live, it’s normal to get drawn in by the cheap costs for student accommodation and become carried away with arranging viewings, but if the property is miles away from university, you’ll spend a significant amount of money and time on the commute alone. It may have an impact on your social life since your friends may be unwilling to travel the lengthy distance, and you could feel excluded from the spontaneous nightlife. You will also need all of the time you have due to your university timetable. Often, there will be private housing available to rent near university campuses, shops, and entertainment in a variety of pricing levels. All it takes is the correct search.

Who Will You Be Living With?

Uncertainty about who you will be living with can be frightening. When you move into private housing, you have the option of living alone or choosing who and how many people you want to live with. This can make starting life at university a lot easier.

Quality Of Private Housing For Students

The standard of student housing for rent has evolved throughout time. In contrast to the typically antiseptic atmosphere of student halls, many landlords provide a contemporary, safe, and homey ambiance. You may frequently discover houses with a lot more character, and you may also be able to customise your home to your preference (subject to the landlords approval).

It’s crucial to emotionally prepare for moving. To move is to make a plan. It is to make a list, make a decision, coordinate, sort, and manage. But more than this, no matter how excited you might be to do it, it’s also to uproot, to search through forgotten items, to relive memories, and finally to pack or give them away.

Moving is both physically and emotionally demanding. You’re employing muscles you’ve forgotten about and organising massive quantities of data. But, in the middle of it all, you’re also swapping a location where you have a plethora of memories for a place where you’re likely to have none. You’re giving up a known history in exchange for an uncertain future. You’re exchanging walls that have seen birthdays, anniversaries, first steps, new friendships, amazing dinners, fresh flowers, tiny moments, and final encounters for walls that have no value. This is not easy, at least not for most people. This is why it’s so important to emotionally prepare for moving.

So here’s a list of the best methods for dealing with emotions when moving.

Say Goodbye

Spending time with family and friends before going away is the ideal way to say your heartfelt goodbyes and emotionally prepare for moving. Organise a goodbye party, invite your friends over to watch a sports event on TV, or play a card game. Or why not take them out to a good restaurant for dinner, to see the newest blockbuster, or just to have a long walk in the park? These golden hours with your loved ones are the ideal time to warn them of the impending shift, exchange contact information, and plan when, where, and how often you will meet again.

It’s also necessary to say farewell to your favourite spots since you may not be able to see them again for years. Take one final trip around your neighbourhood or to your favourite sites – simply try to recapture the positive memories associated with each location. Hopefully, these condensed unforgettable mental pictures can come in handy later on while you’re attempting to acclimatise to your new surroundings.

Get Plenty Of Rest

Being well rested is essential for coping with emotional stress and will make you feel a lot more emotionally prepared for moving. Make every effort to plan ahead of time and obtain at least eight hours of sleep. This is an important aspect of being emotionally prepared. There’s no need to add to the burden by being fatigued. Make sure you know when the moving staff will arrive so you can set an alarm and be prepared.

Take Care Of The Little Things

It is often the small things that wear us down and make us more vulnerable to high levels of emotional stress. So, the day before, fill up all of your vehicles with fuel. Make sure all of the documentation you need is in a secure location where you can easily access it and where it won’t be mistaken for rubbish or placed in an inconspicuous box. Keep your home and car keys in the same area to make it easier to find them. Do as much cleaning as you can ahead of time so that you have one less thing to worry about at the end of the move. Having those items taken care of will help to lessen stress on moving day.

Moving is not always easy on the emotions, but with little mental preparation and these ideas, you can start to reduce the stress and emotionally prepare for moving.

Winter is here, and with it, as many landlords are aware, comes the season of boiler troubles. With energy costs growing at an alarming rate (global wholesale gas prices have grown by an amazing 250 percent since January 2021), it’s time for everyone to ensure that their properties are operating as effectively as possible and that everything is in working condition before the big freeze. In this way, landlords can protect their property as much as possible.

Taking proactive actions is always preferable to dealing with issues as they arise, and everyone wants happy renters. Furthermore, private rental prices in England increased by 1.5 percent, 1.2 percent in Wales, and 1.6 percent in Scotland in the year to October 2021, so in order to maximise your rental income, your property should be as appealing as possible – and in winter, that means making sure they are warm and comfortable. Here’s a brief checklist of items to think about.

Have The Boiler Serviced

This should be a yearly occurrence since it is an excellent means of detecting problems before they occur and preventing irate tenants who are left without heat on the coldest day of the year. When the heating system is put into hibernation throughout the summer, difficulties might arise when it is turned back on. A normal yearly servicing is usually less expensive than an emergency plumber call-out and landlords are always liable for boiler upkeep and repair. Landlords can protect their property by putting this in their schedule.

Bleed The Radiators

Regular maintenance improves performance and keeps temperatures consistent across a property, helping landlords protect their property even more. Also, ensure that extractor fans in kitchens and bathrooms are operational – damp and mould issues may arise if they are not.

Have Chimneys Swept

Chimney sweeping should be another yearly occurrence if landlords want to protect their property. Carbon deposits from open flames or wood burners can accumulate fast, and chimney fires are a genuine danger. Keep in mind that chimney sweeps might be quite busy at this time of year. Check that the smoke alarms are also operational. Hard-wired smoke detectors are preferable to battery-operated ones since they are more dependable and cannot be deactivated.

Insulate Internal Pipes

Ensure that any exterior pipes, as well as pipes in the loft, are properly insulated. If the property is left unattended for any length of time during the winter, there is a genuine danger of pipes freezing, which can be easily prevented by wrapping pipes in foam sleeves, but can cause hundreds of pounds of damage if neglected.

Insulate Windows And Doors

Although double glazing should be fitted as standard if landlords want to protect their property, draughty windows and doors may be easily sealed with tape as a do-it-yourself project. If the loft isn’t insulated, it should be a first concern.

Check The Roof

Look for any loose or missing tiles and get them replaced before tenants notice any leaks. To avoid clogs, gutters must be cleaned of leaves and debris. While you’re at it, cleaning front and rear gardens and walks will make the property seem immediately more inviting to current and possible new renters.

What is your greatest dream? Everyone has a dream, and if yours is to own and run a hotel, you might think that it will always be just that; a dream. However, it could be a possibility if you can secure the financial lending for it. That may sound as though it is easier said than done, but what if you could do it? What if you could realize your dream? It may not be out of reach – here are some of the things a lender will want to see and know before loaning any money to you. Are you ready to take the next step? 

Your Costs 

Of course, the most important thing that a lender will want to know is the costs involved. There is the initial purchase, but there are also many ongoing costs such as hotel linen, cleaning, staff, food, entertainment, security, a website, marketing, and so much more. You need to be able to show that you have thought about them all and understand the outgoings. You also need to have calculated potential income so that you can offset the figures against one another and come up with the profit that you are hoping to make. 

As well as this, you should consider whether any changes or improvements will need to be made – this is especially true if you are buying an older property or if you are buying a building that has not been used as a hotel before. 

A business plan will help you with all of this when you want to buy a hotel. Most companies, including the hotel industry, cannot thrive in an internet age without a sound marketing plan. Relying on recurring business is not regarded as a viable long-term strategy, and lenders would be wary if this were the case.

The Initial Down Payment 

It is highly unlikely that any lender will pay you one hundred percent of what you need to buy the hotel in the first place. Instead, they will lend you a smaller percentage, and you will need to pay a down payment to cover the rest. This is standard practice and is the same as buying any property, except that the down payment for a hotel is sure to be substantially higher. 

The money can come from your savings, a remortgage on your home, or you could speak to friends and family to help you. It might even be possible to raise money through crowdfunding or by finding an angel investor. Selling a current business to pay for a new one could be a risky strategy, but if you can sell it for a larger sum than you need for the hotel, you will have money to live off while the new business grows. 

Hotel Experience 

In many cases, a lender will want to see that you have previous hotel experience before you buy a hotel. They will want to know that you can run a hotel efficiently and that you already understand exactly what it takes. If you do have previous experience, perhaps because you worked as a hotel manager in the past, this is an easy box to tick, but if you are starting fresh, what can you do? 

The best thing to do is to have a good manager on board. If you can show that you already have an experienced person ready to start work and provide evidence to the lender that they have been successful in the past, they will be more likely to lend. 

A Suitable Property 

The lender will also want to know as much about the property you are hoping to buy as you can tell them. Is it in good repair? Is it in a good location? What has it been used for previously? Explaining all of this and determining exactly why you feel it would be a good choice to become a successful hotel will help them make their all-important decision. 

The location of any hospitality or tourist firm will be critical to its success when you buy a hotel. A lender will look more favorably on a hotel company seeking financing if its proximity (for example, near transportation hubs, office buildings, and entertainment centers) is recognized as a key factor in affecting its profitability.

Occupancy Rates 

The profitability of a hotel is heavily reliant on occupancy rates. If revenue per available room (RevPAR) and average daily rates (ADR) are high, this will undoubtedly benefit lenders.

If you are purchasing an established hotel company whose RevPAR is presently lower than it should be, a lender will want to know what your business strategy is to increase this number in order to increase the hotel’s profitability.