404 The Real Cost of a Bad Inventory - Property Inventory Services in Bournemouth and Poole

The Real Cost of a Bad Inventory

In the UK landlords are losing a staggering amount of money because of inadequateР’В  property inventories. According to the figures published by mydeposits.co.uk only 8% of disputes get awarded in full to the landlord.

It is easy to understand why. AsР’В  mydeposits.co.uk points out: “The law starts with the principle that the money is the tenant’s. It’s up to the landlord to justify withholding all or part of a deposit.”

Should a dispute between landlord and tenant arise at the end of the tenancy, this will have to be evaluated by one of the Alternative Dispute Resolution (ADR) services from one of the authorised Deposit Protection Services.

At that point landlords realise, to their surprise,Р’В  that the level of evidence required by the adjudicator far exceeds the evidence provided by an old-fashioned inventory. Even when pictures are provided, the chances of covering every single area of a property with photographs are very low.

In the past landlords and letting agents could rely on basic property inventories as the tenant was always in a weaker position. Sometimes these inventories could be just 3 or 4 pages with few pictures at the back. Nowadays the tenancy deposit rules have completely changed the playing field.

Increasingly, landlords and letting agents are turning to professionally produced property video inventories. To be effective video inventories need to be filmed professionally, ensuring that all areas are covered in a systematic manner by a properly trained and qualified independent video inventory clerk. A good video inventory will be as far from a home video as one can imagine.

Video inventories can also prevent issues arising in the first place and should these occur, it will provide the strong evidence required to prove the landlord’s case and to ensure that the property is returned in a condition which is consistent with its state at the beginning of the tenancy.

Р’В HD Inventories provides Property Inventory Services in Bournemouth, Poole, Christchurch, Ferndown, Ringwood and Southampton