Estate Agents in London agree, Professional Inventory Essential

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SOPHISTICATED TENANTS

The average age of a first time buyer is now reported to be 29 years old, or 33 when they don't have financial assistance and gone are the days of renting being more commonly for the very young, inexperienced tenant. As tenants become more experienced, can landlords still take the risk of foregoing professional inventory? Read this in conjunction with research which shows that more than three quarters of landlords only own one single rental dwelling and potentially you have a situation whereby tenants are becoming more experienced than landlords because more often than not they rent from more than one landlord in their rental phase, this creates many additional opportunities for all estate agents in London.

Seasoned tenants can cause a nightmare for the inexperienced landlord at deposit release stage.  Suddenly, at even the faintest suggestion of a proportion of their deposit being withheld for damages, their knowledge of the importance of Inventories, Check-Ins and Check-Outs suddenly knows no bounds, which also reflects poorly on the agent with those houses to rent in Islington, or anywhere else for that matter.

NEW LEGISLATION FAVOURS TENANT

With the change in legislation and the introduction of the deposit scheme, the impact on the importance of inventory services is now more important than ever and it is much more likely that inexperienced landlords will either elect not to have an Inventory or look to produce one themselves, than it is for experienced landlords who have potentially been through the trials and tribulations associated with not paying for a professional, independent, Inventory to be produced.
For landlords whom elect to not have an Inventory completed or even not to prepare one themselves, they really are leaving themselves wide open to no recourse for any damages caused to the property by the tenants as any tenants with even the smallest amount of knowledge will know that the landlord has not protected themselves against damages (even wilful neglect) that they have caused and will be more than happy for the case to be sent to arbitration, knowing that it is more than likely that the disputed amount will be awarded in their favour. There, you GOT it!!

DIY? No YOU DON'T

There are now many DIY inventory reporting solutions available and some appear pretty impressive, DON'T do it, call your estate agents in London, they will confirm, no amount of software can replace the knowledge and experience of a professional inventory clerk and as well as the independence that they provide together with the impartiality they offer to further strengthen the landlord's position at the time of a dispute. Tenants who did their research will more than probably know that whilst the DPS does not disregard inventories that were not prepared by independent inventory providers, they are likely to place less weight on their contents, than if an independent approach can be shown, and the tenants may look to try to use this against the landlord should they be at risk of a deposit deduction. Independent, professionally produced Inventories, Check-Ins and Check-Outs are invaluable”.