Posts Tagged ‘Inventory’

When you’re renting out a property, one of the tasks you need to do before you get a tenant is to create an inventory of everything that is in the property.

Not only does this help give the tenants an idea as to what is included in their rental, and what isn’t, but it’s also useful to have at the end of a tenancy, so you can identify any missing items, items that have changed, any damage caused to items or any extra items left behind that don’t belong there.

Creating Your Inventory

It may seem a bit tedious having to create an inventory, but it’s a worthwhile task, especially if any disputes occur further down the line.

Go through the property room by room and make a note of everything that is included in the rental for your tenants – curtains, kitchen equipment, furniture etc.

Make a detailed list of all the items, including:

* Details of the manufacturer, model and serial numbers.
* A good description of the item.
* Details of any bumps, scraps or defects the item currently has.

Many landlords are now choosing to photograph the inventory items too, as photos can be used at a later date if any issues arise over what was included or what condition it was in.

If you are going to photograph items, it’s a good idea to date printed photos. If you have any items of particular value, or simply want to be extra careful, then you could even sign and date them and get them counter-signed by the tenant at the start of the tenancy.

In addition to photo, you could also video the property, highlighting which rooms certain items are in.

A copy of the completed inventory should be given to your tenant, as well as the original being kept by you or your letting agent. Hopefully problems won’t occur, but if there are any minor – or major – quibbles, then the inventory can be highly valuable to have.