Understanding the importance of an accurate property inventory

Delays and deposit deductions are happening due to,

Incomplete records of property condition or specific items in each room.

Unclear, dark, or unfocused image quality.

The landlord, agent, or tenant hasn't signed (missing signature).

To maintain a positive tenant relationship and safeguard the property's value, the landlord and agents should keep detailed and well-documented inventories. To ensure accuracy and fairness, we effectively maintain them by outsourcing the inventory property service. This helps to create unbiased reports to stand up in the tenancy deposit scheme (TDS) with a clear report of the property's original state to protect the investment.

Common mistakes: overlooking essential details

To get accurate assessments and future reference, inventory property service providers need to avoid the following frequent mistakes,

Neglecting essential details such as

Serial numbers.

Specific conditions.

Photographs of items.

If there is a damage or deposit claim during the audit, it can make the report appear incomplete or inaccurate. The tenancy deposit scheme (TDS) is less reliable as evidence in disputes within the entire inventory report trust.

Flow chart,

Avoid these 5 common mistakes when preparing property inventory reports

Using vague or incomplete descriptions

Only 'Good condition' or 'slight damage' explanations provided in the inventory property report mean it will be difficult to interpret the details.

Every description of the item should be clearer - including its colour, size, brand (if applicable) & the exact location of any marks, stains, or ear.

While check-in in & check-out, the precise details make it easier to compare the property's condition and can reduce the risk of disputes.

Poor-quality or Insufficient photos

The strongest piece of evidence in an inventory property service is photos. Taking good- quality photos by avoiding blurry, too dark, out-of-focus, or distant shots will accurately represent the condition of the item or area.

Leaving 40% of photos of the details and taking only 60% of item photos leads to disagreements later.

Inventory property reporting teams will recheck images of poor quality before generating the report for that item.

Skipping small or Hand-to-reach areas

Hidden spaces and overlooked smaller items are often forgotten when preparing the inventory property report, as attention is focused solely on the main visible areas.

When creating an inventory property report for a separate house, include item details for the garden as well. And the details of the house will be included from the compound to the compound.

Inventory property service agencies will ensure this by cross-checking the images and audio to verify the presence of any missing item details before formatting the report.

Not updating at check-out

AI-based inventory property reports may not update details if item information is not provided, even if images are included.

When creating check-out forms or templates, they may leave specific area details to be mentioned and fail to capture all relevant information.

Inventory property report-generating agencies will ensure that any mismatches are addressed by comparing check-in and check-out item details.

Missing signatures from all parties

While creating a report for the items, sometimes the landlord, agent & tenant signatures might be missing.

Inventory property reporting teams will ensure all parties are signed, which helps to overcome TDS compliance and report reliability issues.

Author

Article Written by

Priya TM

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Priya T.M, Vice President & COO- brings over 25 years of leadership and strategic expertise, from pioneering ISO-certified, Global offshore staffing solutions to driving the IT, Software, Healthcare operations at RND Softech.