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The Effects a Bad Home Inventory Can Have on Landlords

Posted on June 3rd, 2013 by Tick Tick Check Team

The home inventory is very important for absolutely every landlord, if he wants to rent his property successfully. The inventory is also a kind of guarantee for the landlord that his property won’t be damaged by the tenants without them paying for it. So, in conclusion we can say that the inventory is crucial for a successful business. But sometimes landlords come across inventory companies which appear to be good, but actually their reports are inconclusive and can even harm them. These bad inventories are the reason why many people loose a lot of money every year. Let’s see which are the effects a bad home inventory can have on landlords. I can assure you they are all unpleasant. 

Poor service.
The landlords who make the mistake of trusting the wrong inventory company for their inventory reports, after that have to deal with the problem that they can’t provide a quality service to their new potential tenants. This is simply because if the report states one, and the property itself shows something entirely different, the landlord can be even accused of fraud. Landlords just can’t provide an accurate information to their tenants, because they don’t know the value of their property themselves. This way they can even make a mistake by requiring a higher rent than the one they can actually afford to demand. This can be very bad for their business.

Bad planning.
The landlord can’t plan properly his profit and his expenses around the rental property, simply because he can’t know the exact value of the place, because of the poor inventory. This will make it more difficult for him to decide what furniture to buy and what renovations to make, just because the inventory is inaccurate. The good landlord can’t make a living like that,because he would be blind to what’s needed and what not. This is not a way to run a business and if any landlord have this problem, he should just try to find a different home inventory company.

The bad home inventory can also have a very damaging effect on the landlord’s relations with the tenants. After all, the renters are the customers in this situation and if they don’t get what is promised, they can get really argumentative. And I’m sure that every good landlord will want to provide his tenants with everything promised in the inventory report. To avoid this kind of unpleasant situations, you should be very careful who do you hire to prepare your inventories.

Loss of cost effectiveness.
One of the possible effects of the bad home inventory is that the landlord can loose a lot of money because of it. If there are some very unhappy with the property’s condition tenants and they find out that the thing they got is not the thing described in the inventory report, they can file a complaint against the landlord. This is why it’s very important to choose the inventory company very carefully.

Lack of trust. The worst effect from a bad home inventory for the landlord can be when he loses the people’s trust. Then they can write negative opinions about him all over the internet in different forums, and this can destroy everything the landlord worked for.

In conclusion we can say, that choosing the right inventory company is crucial for every landlord, if he wants his business to develop in the best way possible.