5 things to consider when contracting an inventory company.
A property inventory is an essential part of any legitimate tenancy agreement, it is a comprehensive report of the condition and content of a particular property.
Ideally the inventory should be supplied by an independent inventory clerk, to help avoid disputes in the future and to ensure it’s clear to both parties what damages (if any) need to be paid for by the tenants.
Skipping an inventory on arrival and departure can be short-sighted, as you can never predict a dispute further down the line. An inventory can prevent time and energy being wasted in the future.
But with so many inventory companies to choose from how do you choose ‘the right one’?
5 things for private landlords and agents to consider:
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- Is the company fully regulated and insured?
Look for the abbreviations APIP (The Association of Professional Inventory Providers) and AIIC (Association of Independent Inventory Clerks). These memberships can help with problems encountered with members. Ask for insurance details and terms of business for clarity. - Is the company trustworthy?
Ask whether they can provide you with any recommendations of their services. If possible; review their website and/or social media channels (Facebook, Twitter, etc) to gauge customer feedback and professionalism of the company. - Is the company experienced and impartial?
Experience in the industry is paramount; talk to them about their background, have they previously been a landlord, a property investor, an Estate Agent etc. Experience should also guarantee a quick turnaround and quality of services. Speaking to someone first hand can tell you so much more than a website, you can get an understanding of their ethos, their approach and most importantly whether it is someone you want to do business with. - Can the company provide an example report?
Is it detailed?
Is it professionally formatted?
Does it have web accessible/downloadable digital colour images? - Does the company provide a midterm review / inspection service?
This assists in determining if the tenant is complying with their contractual obligation and provides extra protection for your property, as well as piece of mind.
- Is the company fully regulated and insured?
When choosing an inventory company you need to ensure they provide a consistently reliable service to you and your landlords/clients. Our experience within the industry has ensured that we have learnt from the mistakes of others to create a company that offers an impartial and dedicated service that is second to none.
This post was originally published by Yellow Oak Inventories on January 7 2015 http://yellowoak.co.uk/contracting-an-inventory-company/
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