The number of people renting in the UK has been on the rise for the last five years and shows no sign of stopping anytime soon. This has given entrepreneurs a great opportunity to invest in properties and then become an independent letting agent.
Many new letting agents forget about one of the most important parts of renting out properties – the inventory. This has to be prepared for both the tenant and the landlord. Within the inventory all of the contents of the property have to be listed, as well as the condition at the time of the tenants moving in.
Why Are Inventories Important?
Having a carefully crafted inventory is essential for the end of a tenancy. This is because it will speed the process up significantly. Any differences can be resolved quickly using the document.
To make the process even quicker and speedier, many new letting agents rely on house inspection software. Using this kind of software means everything is done digitally, with no need for tiresome paperwork. If you are a new letting agent, house inspection software should definitely be on your list of tools and apps to use.
There are three different ways to prepare an inventory for a new letting agent. You can do it yourself using a template, get the help of a professional inventory clerk or use any inventory software you already have to keep yourself organised.
Doing It Yourself
Opting to prepare your own inventory could save you some money initially, and there are plenty of templates online that you can use. These templates can also be edited so they fit your specific needs.
Using an Inventory Clerk
An inventory clerk will be experienced in creating a professional and informative inventory for you if you are struggling to do it on your own. They know the areas to pay more attention to when tenants are checking in and out of a property.
Software and apps that track inventory save a lot of time, and there are plenty of free demos out there that you can try. All you need to remember is to prepare your inventory from an unbiased viewpoint and make it as thorough as possible.