Author : Maryanne Bowring
The National Residential Landlords Association (NRLA) revealed in September that only one in eight of landlords uses an inventory as a tool to help manage their lettings. We think this is a big mistake. Here’s why.
Even if you are letting your rental home unfurnished, there are still fixtures and fittings to take into consideration: carpets, curtains, wall and ceiling finishes and kitchen and bathroom fittings can all get damaged during the course of a tenancy and may be costly to replace. Good tenants will look after your home as their own but many will not. And with the best will in the world it is still possible to drop a glass of red wine on the carpet or chip a sink by mistake. By putting together a comprehensive inventory, you and your tenants have a clear picture of exactly what you are providing and what condition it is in - both at the beginning and the end of their rental journey with you. Wear and tear is inevitable but if you haven’t logged the original condition of your property, a tenant is unlikely to accept the return of anything less than their full deposit when they move out. It works in the tenants favour too because they know anything the landlord is taking off their deposit at the end of the tenancy is legitimate. So a detailed inventory, accompanied by photographs, is the easiest and most straightforward way to avoid rows and bad feeling.
The NRLA has this advice for property owners: “If a dispute does occur over damage to the property, you as the claimant are responsible for proving the damage occurred. Without an accurate inventory that has been agreed by all parties it is extremely unlikely you will make a successful claim for damages”.
So we’ve made it really easy to put together an inventory for your rented properties. Landlords using our automated lettings platform PlanetRent have instant access to our DIY inventory tool that does all the hard work for you. You can use Quick Inventory (QI) which auto feeds your inventory and meter readings into Move-In Checks and emails it to tenants to e-sign. Or, you can use our national network of licenced inventory clerks. This is just one of the great features we’ve built into our software to make your lettings journey as easy as possible. It’s pay-as-you-go, with no contract or subscriptions, so why not try PlanetRent today?
Mary-Anne Bowring FIRPM FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MIRPM MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
Stakeholder engagement. Mixed tenure specialist. Budget management. Plant audit, PPM compliance.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
Libby Chen MSc Compliance Manager
Operational Plant & Equipment strategy PPM Compliance lead, Asset tagging Client major projects
Dipesh Parekh Director PlanetRent
Customer centric, vertically integrated PropTech/fin-tech solutions.
Leana Aristodemou MIRPM MARLA AssocRICS Strategic lead: ESG & Asset Business Plan delivery
Financial modelling, valuation analyst to support underwriting & fund reporting.
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.