By their very nature, unfurnished properties contain no, or very few contents. So is an Inventory really required or is it an unnecessary expense? Kate Maddison, Key Accounts Manager, from the Live Letting Exchange provides her thoughts.:
“I have often received challenges by both Letting Agents and Landlords as to why an Inventory would be required on an unfurnished property - surely if a property is empty that there can be nothing to itemise? However, even with a property marketed as unfurnished, it is extremely rare for there to be no items at all at the property - ask yourselves how many times you have marketed an 'unfurnished property' that includes a fridge? Beyond this an Inventory does not just list items, it also provides a Schedule of Condition, which is crucial when making allowances for fair wear and tear at the end of a Tenancy.
Even if a property is unfurnished, it is likely to contain high value items, such as carpets, curtains and white goods. If these items are omitted from a property, there is still a lot that could be broken or damaged, and replacing/repairing windows, door furniture, locks, light fittings, smoke detectors, electrical sockets, kitchen and bathroom fittings, etc. can be costly.
In addition to the potential for items to be broken, damaged or even stolen, there is the matter of decoration. Without an agreed Inventory, there is nothing to prove what colour the walls and woodwork were at the commencement of the Tenancy and unfortunately Tenants will sometimes look to redecorate a room without firstly gaining permission from their Landlord. Should this happen, and the Tenants unleash their inner ‘interior designer’ on to the property, a Landlord could find that their neutrally decorated walls have been transformed in to a colour crazy pallet of bubblegum pink, midnight blue or lime green. Without proof that colours have been altered by a Tenant, a Landlord could find themselves out of pocket for redecoration costs. Of course, the property could be re-let with the new ‘colour scheme’, however, as most experienced Letting Agents and Landlords will know, neutrally decorated properties are generally easier to let than ones with gaudy interiors, and a well presented property will normally ensure that the desired PCM rental is achievable.
Finally, cleanliness is another area which will be detailed on an Inventory and, as with redecoration, if there is nothing to evidence the cleanliness at the commencement of the Tenancy, there is little that can be done when Tenants leave the property dirty on departure.
In summary, if a Landlord wishes to guard their property against unfair wear and tear, cleanliness and redecoration issues, then an Inventory is most definitely not an unnecessary expense! If, however, a Landlord is comfortable with proceeding to let his property without a comprehensively prepared Inventory, I would question whether there is really any point in taking a deposit - after all, there would be very little proof to substantiate any potential deposit deduction claim should the need arise”.
The Live Letting Exchange provides a nationwide Inventory service. To find out how you could benefit from their services, please contact Kate Maddison, 07736517459 or kate.maddison@live-lx.com
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