Accurate inventory is key as tenants staying in one home for longer

New figures from the Association of Residential Lettings Agent show that tenants are staying put in the same property for record durations.

Related topics:  Specialist Lending
Millie Dyson
14th February 2012
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In 2009, ARLA members recorded the average length of a tenancy across the UK as 16.5 months; this number has increased by 17 per cent as latest research shows renters are now spending on average 19.3 months in their homes.

Ian Potter, Operations Manager at ARLA said:

“Possibly as a reaction to tough financial times, tenants seem to be spend longer in their rented properties and the average tenancy is in excess of 19 months.”

Responding to these new figures, ARLA is calling for both tenants and landlords to remember the benefits of creating a comprehensive inventory at the beginning of each new letting contract.

Mr Potter continued:

 “This increase in the length of tenancies will inevitably lead to greater wear and tear in rented accommodation and fewer opportunities for ‘downtime’ between tenancies for landlords to make improvements. Landlords and tenants alike should remember that disputes over deposit returns can be one of the biggest headaches facing both parties, but these can be easily avoided if a professional inventory is prepared.”

“Renters should ensure that a thorough inventory details not only the contents within the property, but the condition of them as well as the condition of the property itself. This should include fixtures and fittings – such as carpets, curtains and light fittings.”

“A licensed letting agent will offer tenants the best advice on inventories, including checking if an inventory exists or if any extra charges are invoked by drawing up a new document. Landlords and tenants often share the costs involved in preparing the inventory; these costs should be seen as a necessary investment that helps protect them both, but should be made clear at the outset of any agreement.”

ARLA has issued the following advice to tenants when moving into a new rented property:

- Use an APIP member:  the Association of Professional Inventory Providers offers a recognised standard of inventory provision, advice and guidance. Letting agents who are members APIP have been through a training process and have passed an assessment to demonstrate their abilities in drawing up an inventory and conducting the check in and check out. In addition the fully qualified member of APIP will have their name and membership number included in the inventory.

- Make sure you take a photo:  taking a record of the property using your camera at the beginning of the tenancy can help provide evidence to protect both the landlord and the tenant. Your photos should also be approved by the landlord, and separate copies should be retained by both parties.

- Note the detail: tenants and landlords should ensure that the inventory notes all the contents and features of the rented property, and that it accurately records their condition. Remember to avoid ambiguous words which may not fully explain the actual condition of the contents and features.

- Check the utility readings: to avoid bill disputes – both between tenants and landlord, and with energy suppliers – make sure that accurate and up-to-date utility meter readings are taken, and that these are included on the signed inventory.
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