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Landlords

In today’s lettings market it is necessary for Landlords to safeguard themselves against damage to the fixtures and fittings of their property. With the introduction of the Tenancy Deposit Scheme in April 2007, a Landlord is not allowed to take compensation from their Tenant’s deposit without proof of the condition of the property at the start of the tenancy.

The most effective process to avoid disputes arising at the end of the Tenancy is by having the Tenants agree on the condition of the property before they begin residence.

This can be accomplished by having a professionally prepared Inventory Report produced and then signed by the Tenants. By doing this the Landlord will be sending a clear message to the Tenants that they will be held fully accountable for all damage, necessary repairs and renewal costs other than acceptable, fair, wear and tear. Some Landlords choose to produce their own Inventory; however, this is a conflict of interest and may not be as detailed as an Inventory produced by a professional Company.

When considering all the costs involved with both the purchase and letting of a property, most Landlords agree that a comprehensive independent Inventory Report is an integral part of successful property management.

For Landlords, whether you let out a single property or you have a large portfolio, you need to safeguard your investment. You need to be able to prove damages or breakages have occurred during a Tenancy.

You can find further information about the Deposit Protection Schemes on the following websites:

The Deposit Protection Service:

www.depositprotection.com

Tenancy Deposit Scheme:

www.tds.gb.com

My Deposits:

www.mydeposits.co.uk

The Dispute Service:

www.thedisputeservice.co.uk

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