INVENTORIES AND WHY YOU NEED TO KNOW ABOUT THEM

Since the introduction of the statutory Tenancy Deposit Scheme (TDS), the creation of an up to date and accurate Inventory has never been more important. A key aspect of the TDS is dispute resolution and the provision of evidence to support both the Landlord’s and Tenant’s cases should they not agree on how much deposit should be returned.

It is essential that a Property Inventory and Schedule of Condition are prepared by an independent and experienced Inventory Clerk before the commencement of each new tenancy, therefore ensuring that the process of moving in and moving out a tenant is handled with integrity and without bias.

The Inventory is a key component of property management which Landlord’s, Letting Agents and Tenants alike rely upon should a damages dispute arise at the end of the tenancy. If there is no detailed inventory in place, there is little hope of a landlord succeeding in a claim against a tenant for dilapidations. A poor inventory will not be viewed as acceptable evidence by an adjudicator in court.

The independent adjudicator attached to which ever scheme the deposit has been registered with, will examine all documentation as a basis for their decision. A good Inventory will not only speed completion of a tenancy but will also keep costs down.

The Island Inventory Company advocates best practice in the compilation of Inventories. We provide a comprehensive Inventory service to Landlords and Letting Agents and are already well established throughout Dorset.