Independant Inventory ?

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    Independant Inventory ?

    Hi

    How many Private Landlords do their own Inventory lists?

    Do most Letting Agents get an independant firm to do this in order to save hassle later?

    Im just curious as our agent uses an independant firm, which seems to be a sensible thing to do - landlord and tenant agree to respect the firms decision/ruling at end of tenancy.

    If you were to consider using an independant firm, what would you expect to pay (ie 4 bed detached house)?

    If you are a tenant, would you feel more comfortable in the knowledge that an independant company was to assess the property when you move in/out?, and would you be prepared to pay 50% toward the service?

    Would this lettings expense be fully deductable for tax?

    Thanks

    Paul

    #2
    Seems to me that a inventory is a black and white thing, i.e. a washing machine is there and works but has a scratch to the front. You cant really dispute that and provided it is signed at the start of the tenancy, its binding.


    To your tax question, get a invoice/reciept you can offset that on your PTR.

    Comment


      #3
      I'm a pedant and the word you want is Independent.

      The standard of spelling is erporling!
      The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

      Comment


        #4
        Our agent used an independent inventory firm and I have to say we were not happy with the service. Here and why.

        We live abroad and rent out our property. When tenants left the independent firm went in and did the survey. They were accurate in terms of the bits and pieces left in the house but in terms of the cleanliness and damage they were way off the mark. We happened to return to the house the week after the tenants left and found the kitchen caked in grease, massive stains on the lounge carpet, limescale on all the taps where they hadn't been cleaned and so on. Fridge and microwave still covered in food.
        The house was professionally cleaned when we left and was certainly not in this state. That could be proved as no tenant would have gone in there with the house in this condition.

        We called the agent to come and verify what we saw and they agreed the final inventory check was not correctly stating the condition of the house.

        So my thoughts on these independent companies is that maybe their standards are not always the same as yours you can't beat going in there and checking it out for yourself.

        Comment


          #5
          In London, they charge something like £ 88 to check in, £88 to check-out and the agent charges £ 125 in between for (Er..!). It is standard for the tenant to pay going in and for the landlord to pay going out.

          I suppose they have their use. And yes, they are perceived as independant (Paul_F) and professional.

          And yes, it is an allowable deduction against your rental income.

          Ramnik
          Private advice is available for a fee by sending a private message.

          Comment

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