![]() details of key codes and number of key sets.meter readings as at the entry date and.instruction manuals for appliances /central heating systems.copies of gas /electrical certificates.the presence and type of fire/ carbon monoxide alarms.Things to be aware of include items on the walls (for example, mirrors, clocks, artwork etc.), in cupboards, garages, gardens or communal areas (for example, bins).Ī property inventory is also a good place to document that you have complied with other obligations that you have as a landlord, or even to keep a record of other things relevant to the property. It can be easy to forget to include items which seem like part of the furniture (ha ha!), or that are stored away out of sight and out of mind. You don’t need to use an inventory for an unfurnished property (unless you are in Wales), but it can be helpful to have one, as it will help you document the condition of the interior of the property and all of its fixtures and fittings. These items ought to be included in all types of properties and in an inventory for an unfurnished property. Anything that is fixed to the building of the property, including carpets, radiators, kitchen cabinets and bathroom fittings (such as toilets and sinks) are typically not regarded as furnishings by the letting industry. That’s not to say that an unfurnished property is completely bare. They are items that you can move around with relative ease. What are furnishings? Furnishings are things like furniture and kitchenware. We’ll look at this difference in more detail now and then cover some of the items that are commonly forgotten, as well as things that are nice to include.įurnished v unfurnished – do I really need to use an inventory for an unfurnished property?Īn unfurnished property is one that is let without any furnishings included. The main residential property let types are furnished or unfurnished properties. Commercial property inventories will be slightly different. Our landlord’s inventory template covers residential property only. This will depend on the type of let property that you have. What should be included in a property inventoryĮverything that is in the property. Secondly, it’s in your interest to do so! The inventory can act as a protective, preventative measure and be used to evidence any deductions that you might need to make from your tenant’s deposit at the end of the tenancy if, in the worst case scenario(!), your tenant(s) remove items from your property or damage it. Why? Firstly, it can help with the management of your property, as your tenant(s) will know exactly what they are going to get before they move in. Many industry bodies also recommend that you use an inventory and we agree! An inventory is referred to in the model tenancy agreements produced by the governments across the UK for the private landlord sector though (see Scotland, England, Wales and Northern Ireland), and if you use these agreements you will need to create one. No ( but this is changing in Wales soon). Where an item or general fixture is the property of the landlord, the inventory documents its condition at the time that the property is handed over to a tenant(s). It’s used by landlords to describe the contents of their property clearly and accurately so that both landlord and tenant are on the same page should challenges arise in future. Throughout this article we use multiple terms to refer to the same document: “property inventory”, “landlord inventory”, “rental property inventory”. Free invoicing software for entrepreneursĮxactly what it says on the tin, a property inventory gives an overview of the let-property contents and condition.What do you do with the inventory once completed?.How do you use the landlord inventory template?.What should be included in a property inventory?.We know how cumbersome they can be to prepare and complete, but there are also many great benefits to having one! To help you out, we have created a free downloadable landlord inventory template that will let you achieve these benefits and free up your time to focus on what matters. Now you need to decide whether to use a property inventory. You’ve also found a tenant that you like, signed a tenancy agreement and you’ll soon be handing over the keys. ![]() You’ve found a property, bought it and decided to manage it yourself. You decided to invest in property with the goal of diversifying your income stream. Business is going well (perhaps due to the business automation that you’ve recently introduced).
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