Landlords

PROTECTING YOUR INVESTMENT

Since the introduction of the Tenancy Deposit Scheme on 6th April 2007 it has become a requirement for Landlords to ‘prove their case’ if there are to be any deductions made from a Tenant’s deposit, making a comprehensive property Inventory Report even more important.

The new legislation is designed to:

  • protect Tenants
  • under the terms of the scheme adjudicators will review all relevant documents, including Inventory Reports, before the dispute resolution service or the courts decide how to divide deposit liabilities between Landlords and Tenants.

THE IMPORTANCE OF AN INVENTORY

For Landlords, whether you let out a single property or you have a large portfolio, you need to safeguard your investment. You need to be able to:

  • prove damages or breakages have occurred during a Tenancy. The most effective way to do this and to avoid a potential dispute is to have your Tenants agree on the specific condition of your property and its contents before they begin occupancy.

AVOIDING LANDLORD-TENANT DISPUTES

This can be achieved by having an independent professionally prepared Inventory Report drawn up and then signed by your Tenants before they move in. By doing this you will send a clear signal to your Tenants that they will be held fully responsible for all damage, necessary repairs and renewal costs other than acceptable for fair wear and tear.

When you consider the costs involved with both the purchase and maintenance of a property, plus the time and money spent on the presentation, most professional Landlords agree that a comprehensive Inventory Report is an essential tool in successful property management.

THE TENANCY DEPOSIT SCHEME

You can find further information about the Tenancy Deposit Scheme on the following websites:

The Deposit Protection Service: www.depositprotection.com

My Deposits: www.mydeposits.co.uk

The Dispute Service: www.thedisputeservice.co.uk

For further information on our Inventory services for Landlords please contact us

M: 07507 201291
E: info@kcpi.co.uk