As a representative of a professional letting agency you’ll already know that letting out multiple properties concurrently can be a hassle, especially if you’re presented with multiple disputes from different tenants at the same time. You’ll also be aware that having experts create independent inventory reports for your properties will save you both time and money in the long term.
That said, we always like to make sure our clients are fully aware of the benefits of our inventory services, and how to make sure you and your tenants make full use of them.
Ensure Your Tenants Sign and Initial Each Page of the Inventory
While your own employees will be trained to do this and will do so numerous times in their careers, making sure that your tenants check and initial each page of a leasing agreement is vital in case of any future disputes.
Make Sure Your Trusted Agent is Physically Present Only on the Final Lease Date
Entering the property before the final day of the lease can lead to disputes based on the responsibility for any damage that is discovered. If your agent is not present before the end of the lease, the responsibility is easy to determine.
Hand Back the Deposit Quickly if There are No Issues
Handing back a customer’s deposit within 7-14 days if there are no issues is a reasonable and prompt time scale.
Always Keep in Touch with Your Tenant in the Event of Dispute – Make Sure They Agree with Costs
In the event that a dispute arises, make sure that your tenant agrees to the list of prices that you quote for repairs and replacement before you send that list to the Tenancy Deposit Scheme that you use. It’s also your responsibility to consider “Betterment”, that is to say the depreciation of value of certain items when it comes to charging a tenant for replacements.
Notify Insurance Companies When Deposits don’t meet the Required Amount for Repairs
You should invoice tenants for amounts that aren’t covered by the total value of a deposit. In the event that your client is covered by insurance, their insurance company should be notified.
Decide on Whether to Abide by ADR Findings
The Alternative Dispute Resolution service provided by your Tenancy Deposit Scheme is a great alternative to legal action, and is something that we recommend. Nothing could be more important here than making sure that your inventory reports are complete and accurate, and that they support your case. As long as you have acted honestly in all areas and have the evidence to back it up, we’d always suggest going for the ADR rather than the courts. Going to court, with all its attendant costs and time should always be a last resort. Remember, if you agree to abide by the ADR’s findings, you cannot later decide to go to court.Get a free quote