Why Is An Inventory Important?

Why Is An Inventory Important?

A property inventory is a very important document to have, whether you are a tenant looking to move into a rented place or a landlord who wants to protect his or her investment. Even though most landlords know how important they are, many tenants don’t care about them. This is a mistake that could cost you in the long run; there are many reasons why an inventory is important.

inventory important

Who Conducts The Property Inventory?

A landlord, a letting agency, or an independent inventory clerk can all create an inventory. To be sure you’re working with a reliable company, look for an independent inventory company that has plenty of experience – just like Looksy Inventories. 

Both parties must sign the inventory report to certify that they agree with its contents, which is normally completed on the day of move-in. If the contents of the property are valuable, the report’s level of detail will reflect that. Photographic proof and written record are both acceptable.

Landlords should be mindful that if there is a disagreement, doing their own inventory might generate complications. The TDS would always prefer expert inventories over those done by the property owner.

Why Is An Inventory Important?

By taking an inventory, both parties can get a good idea of how the property is in its current state.

The property inventory will point out any areas that need to be fixed and say who is in charge of fixing them.

Having the document on hand will help tenants know exactly how to return the property to the landlord and give them an idea of how to take care of the home.

Inventory reports make it easy to tell the difference between damage and normal wear and tear.

Property inventories help both the landlord and the tenant protect their money.

When the tenancy is over, there are less likely to be problems if the inventory is done well.

But if there is a disagreement, having an inventory will help make sure the right decision is made.

Contact Looksy Inventories to find out more.

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