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We recently produced the below video for the digital inventory app, Imfuna.It's with Mike Morgan, Head of Adjudications at the TDS. I wanted to share it because he makes some very important points about inventories in general and gives actual examples of disputes and outcomes. It certainly made me realise just how important inventories are.They seem to be largely under-valued by landlords, but as this video states, it is in your tenant's interest NOT to have an inventory, as they are more likely to win a deposit dispute!!Also worth remembering that an inventory proves what wasn't in the property at the start of the tenancy, as much as what was!I heard a recent case where a tenant removed all the designer furniture from a house and replaced it with stuff from charity shops!As the landlord did not have an inventory, he could not prove that this was different furniture to the start of the tenancy! I also used my inventories as proof to HMRC that our properties were furnished when we went through our recent HMRC audit.They accepted them as evidence that we had made justified "furnished allowance" claims.House Critter recommends the following related discussions:Important ruling about deposit protection that all landlords should be aware of.PT TV on location at Tenancy Deposits WorkshopAre you going digital in your property business?Commonest mistakes made by novice landlords
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
(14-12-2012 04:33 PM)chris@tds Wrote: There is a monthly Digest on the TDS website which gives examples of real life adjudications, and a few of them bring up the importance of inventories.
https://www.thedisputeservice.co.uk/resou...1-2012.pdf <<< In this case about damage to items, the landlord provided a vague check in and no check out, meaning the Adjudicator had no way to compare the condition at the start and end of the tenancy - the tenant was awarded the full amount.
https://www.thedisputeservice.co.uk/resou...y-2011.pdf <<< And this is quite an interesting case about valuable artwork belonging to the landlord which was damaged during the tenancy, but not well documented at the outset. The tenant was awarded most of the deposit.
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I really would not look on this as a satisfactory result. Lowering there commission means that they have less to work with so may well cut corners elsewhere. Use a ARLA agent so that you can always use there complaints procedure or a TPO so that you can save on possible legal fees
Manchester based investor. I buy, sell, renovate and rent investment property in East/North Manchester email: email@example.com Call: 0161 681 3724
Jonathan Clarke. http://www.buytoletmk.com
Letting agents get 80% fewer email & phone calls on problems from their tenants if a professional inventory is prepared. @EAELIVE— my|deposits (@mydeposits) June 20, 2014
Letting agents get 80% fewer email & phone calls on problems from their tenants if a professional inventory is prepared. @EAELIVE