Property Inventory Reports 101

Property Inventory Report

An Inventory Report is a complete record of the physical internal condition of the property to include all fixtures, fittings and décor of the property at the time of the inventory. Photographs are also taken and attached to the report.

The aim of this report is to accurately describe every item in the property, although there will at times be a difference in opinion. Most clerks are highly trained and can deliver an adequate property inventory however differences in opinion should be straightened out before the report is accepted, signed and dated.

The need for an inventory arises, in most cases, to avoid litigation and or landlord / tenant disputes as the tenancy term ends and there is disagreement as to the condition of the property with regards to cleanliness, disrepair, damage and missing furniture / other household items. The inventory can be referred to and ultimately used in court as evidence should matters proceed down that route.

It should be noted that items that are out of sight or inaccessible to the clerks (items in the lofts, cellars or locked rooms, garages and sheds) will of course not be recorded in the inventory report.

In general, clerks will not move furniture or look under furniture. Clerks will not test any electric or gas appliance or equipment. They will not test fire alarms, house alarms etc. unless specific instructions have been given to do so.

Inventories can be carried out by the Landlord themselves but most opt to hire professional clerks to do the job for them at a competitive rate. Also clerks take an impartial approach to producing the report.

Property Check-In Report

A Check-In Report provides a schedule of the condition of the property and sets the benchmark at which the property should be maintained and returned at the termination of the tenancy.

Together with the Inventory Report, the Check In creates a report specific to a particular tenancy.

When new tenants move in, the Inventory is examined in detail with the incoming tenants to note any disagreements, if any. Meter readings are noted and generally photographed. Keys are signed for and handed over.

Property Check-Out Report

A Check-Out Report takes place upon the termination of a tenancy. This report is compared to the Inventory and Check In reports taken at the beginning of the tenancy and any discrepancies i.e. damage, state of cleanliness, state of disrepair, general wear and tear will be assessed. Meter reading will again be taken and keys will be returned.

In an ideal situation, all 3 reports (Inventory, Check In and Check Out) should be undertaken by the same Inventory company for ease of comparison and reference.

Snagging Report

A Snagging Report; this report is commonplace when purchasing a new build property or newly refurbished property.

This report compiles a list of any issues regarding the décor, finish, fixtures and fittings, appliances, furniture (if included) etc. This report will then serve as a check list to be handed to the vendor who should then act upon the report prior to the sale of the property.

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