What is an inventory?
An inventory is a document with a set of items, such as the contents of a property that identifies the conditions of the contents.
The ‘taking an inventory’ process is almost like an inspection.
Inventories take place as a new tenant moves into a property. The idea is that the landlord has documentation of the state that the property is in when they have new tenants. This also works vice versa so the tenant has an element of security if the landlord then makes claims at the end of a tenancy.
Who are they conducted by?
Inventories are conducted by the landlord (or they may employ a company, or their estate agent to do undertake the check for them) and the tenant, ideally both should be present so that defects can be agreed on and acknowledged by both parties.
An inventory is instigated by the landlord, it’s uncommon for the tenant to need to organise it.
What must an inventory include?
- Names and addresses of the landlord, tenant and letting agent (if there is one)
- Dates and time of the inventory, and who conducted it
- All contents, fixtures and fittings – with details of marks and defects, if any
- Meter readings
- Signatures of all concerned