Inventories – why have them done?

August 14, 2018

The AIIC (Association of Independent Inventory Clerks) is working towards making inventories mandatory in residential lettings. This has caused a storm not just against inventories being made mandatory, but against having inventories at all. Surely, the need for professional, independent inventories is clearly accepted by now. Or not?

Mandatory or not, we’re convinced of the real value of having a professional inventory, midterm and check out done. Let me set out why.

Part of an agent’s job is to protect the customers’ interests, landlords and tenants alike. Leaving them without any protection for their property or deposit exposes them to risk. Having a detailed, independent inventory with a full set of pictures reduces the risk significantly.

For a landlord regardless of background checks it is not possible to really know your prospective tenants, and how they will treat your property. For a tenant it is not possible to know the landlord nor the property. Even if all works well there is still the possibility of disagreements. So it is in the interest of all parties to have a detailed, independent inventory done, with regular midterms and a check out.

The inventory needs to be independently done, not just seeming to be, to stand up to scrutiny. So not done by the agent who have a hundred other things to attend to. Not by a company run by the lettings agent, and certainly not by the landlord nor the tenant themselves.

The report also needs to be specific to the property, not done choosing more or less fitting options from a drop down menu. This needs to be backed up by a full set of pictures, so that any potential future issue can be easily settled.

This should be done by a clerk who has had proper training with quality control of the report before it is sent out on a timely basis.
Inventories, midterms and check outs provides value for money for agents, landlords and tenants alike when done like this.

Shared by: Ronny Svang

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Estate Agent Talk

Buying Alone? What Solo Buyers Need to Know Before Making an Offer on a House

Figures show that solo buyers accounted for 36.9% of Barclays’ mortgage completions in June 2026, as more people chose to step onto the property ladder without a partner beside them. Choosing independence over waiting for a joint purchase has doubled over the last 50+ years, with solo first-time buyers doubling from 15% before 1980 to…
Read More →
Estate Agent Talk

How to Make a New-Build Living Room Feel Less Like a Show Home

An empty new-build living room can be surprisingly difficult to furnish. The walls are freshly painted, the sockets are in place, and there is nothing to remove before decorating begins. Yet once the sofa arrives, the room can still feel unsettled: too bare in some places, awkwardly crowded in others. The answer rarely involves buying…
Read More →
Breaking News

Mortgage Borrowing Dip

Key points: Net borrowing of mortgage debt by individuals decreased to £3.9 billion in September, from £4.2 billion in August, below the previous 6-month average of £4.9 billion. Net mortgage approvals for house purchases decreased to 53,400 in September, below an average of around 58,800 over the previous 6-months. Approvals for remortgaging increased to 42,600…
Read More →
Breaking News

Autumn Budget 2026: Property industry reaction

Following today’s Autumn Budget, reaction from property industry experts on six key areas for the property market. First-time buyer support: The £4.7bn Your First Home equity loan scheme, supporting 70,000 buyers, alongside the introduction of a new First Time Buyer ISA. Inflation and borrowing costs: The extension of the fuel duty freeze, household energy support…
Read More →
Breaking News

Can you legally BAN Halloween Trick or Treaters?

People who dread the annual knock of trick-or-treaters may have more power to keep Halloween callers away than they realise. As millions of children prepare to take to the streets on October 31, a property law expert has explained what homeowners can do if they do not want strangers walking up their path or knocking…
Read More →
Estate Agent Talk

What the sector need to do differently to give first time buyers a chance

By Peter Hawley, Director, SOWN (part of LRG) The mortgage and property sector needs to stop assuming that younger buyers are either ready to buy outright or not ready at all. For many, the reality is somewhere in between. They may have stable employment, a deposit and a strong desire to own, but still find…
Read More →