Why do I need an Inventory?

On the 6th April 2007 the Tenants Deposit Scheme under the housing Act 2004 was born. Deposits now must be lodged in one of four government approved deposit schemes within 30 days of the landlord or agent receiving the deposit.

At the end of the tenancy the tenant will be entitled to all of their deposit back unless the landlord can prove that the condition of the property at the end of the tenancy is worse than at the beginning of the tenancy due to the tenants negligence, misuse, carelessness or deliberate damage of the property.

The only way a landlord can prove this is if an inventory has been carried out at the beginning of the tenancy and a check out has been carried out at the end of the tenancy.

It is advisable that the inventory is carried out by a professional third party inventory company in order to be seen as being unbiased. Should a dispute arise, an unbiased report will carry more weight when it comes to any alternative dispute resolutions and as a landlord you are more likely to be able to retain the funds from the deposit to put right the damage caused by the tenant.