Guide to Inventory
The Inventory – What is it exactly?
The Inventory is essentially a list of all contents that you are leaving in your rented property; be it knives and forks to sheets and pillowcases. The document is really useful for monitoring the condition of the property and contents from move in day, to move out day – and let us be clear – it is there to protect both Landlord and Tenant.
This Part of your career as a Landlord is one that is often neglected – understandable as it seems to be a lot of paperwork, time and effort. However; having an accurate Inventory can save you a whole heap of problems when a tenant decides to move out. (now of course you can get the professionals in to do this for you! – but with a little time and effort, you can produce a concise document that your tenant will really appreciate) No more arguments over the number of teaspoons left
How To Prepare An Inventory
With the agreement of the tenant; the Landlord or ideally an Independent Agent, should have a document prepared for move in day. All items listed per room with the date and condition stated clearly. All parties should sign each page and each party keep a copy. It may be wise to take photographic evidence, especially with the more expensive items being left, such as white goods or quality furniture, again all parties to receive a copy of these.
Is it Wise To Check The Property Throughout the Tenancy?
In the UK it is quite common for checks to be carried out, every quarter as an example, on the property and the inventory. Of course all checks must be agreed before hand with the tenant; state in the lease; giving at least 24 hours notice
Move Out Day
Only on the actual move out day should the final inventory be checked. This must be done in the presence of the tenant and before any deposit is returned.
What About Damage?
If you have prepared your Lease correctly your tenant will be aware that all damage caused by them results in all damages being put right at their own expense. In Malta there is no ‘tenancy deposit scheme’ and certainly no ‘Dispute Resolution Board’ and little uptake on tenancy insurance. If you do find substantial damage that is not covered by the deposit then you may have no option but to take legal advice. In this instance try to take as many photographs of the damage as possible to record the condition.
What About Unfurnished?
Unfurnished it may be – but there are still bathrooms, kitchen doors, flooring etc, even the condition of the walls should be noted. So yes, prepare an Inventory for unfurnished properties.
As we have tried to think of everything to make your career as a Landlord run more smoothly we have prepared an Inventory Form Free for you to download any time you wish. On the other hand of course you can give us a call and we can prepare this all for you – just check out our additional services.
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