News By Tag
News By Location
Why Inventory Reports are Important for Landlords and Tenants
Having an inventory report in place before the tenancy begins is highly beneficial not only for the landlords but also for the tenants.
However, many landlords and tenants fail to understand this concept of inventory reports and for that, they have to pay a heavy price at some point in time. If you want to avoid such situations then you should be having an inventory report for your property as well. Here are some of the reasons why you should be opting for an inventory report of your property before and after the tenancy.
1. Safeguarding the Property
An inventory report could sometime play as a safeguard for your property. First of all, when you have other people in your property, you would be expecting them to take care of it just like you do. But, more often than not this is not the case and the property of the landlord gets damaged.
However, tenants will not be accepting that the damage was done because of their actions and you will have no evidence of proving that. That is why an inventory report will work as an evidence for you that the damage was done by the actions of tenants as it was not there before the tenancy began.
Thus, all the chaos and confusion that could arise at end of the tenancy could be avoided with an inventory report.
2. Safety for the Tenants
There are many landlords who like to accuse their tenants of the damage that has happened in their property during the tenancy. However, the damage may have been there before which went unnoticed by the tenant and the landlord.
Therefore, if you are a tenant and want to avoid such confusions taking place and live with a peace of mind in the property of the landlord then you should be asking your landlord to have an inventory report which will secure interest as well.
3. Easy Closing of the Tenancy
As a landlord or as a tenant, the most confusing part of the whole tenancy period is the closing time. There could be so much confusion and misunderstanding between the landlords and the tenants at this juncture. That is why opting for an inventory report could help both the parties to close the tenancy at a happy note because it is one such thing that will take care of the interest of both the landlords and the tenants.
Inventory reports are very crucial not only for the landlords but also for the tenants. Therefore, at the beginning and closing time of the tenancy, make sure that you have obtained an inventory report of your property.
1 Scawen Road, SE8 5AG, London, UK
PHONE: 0784 291 18 68