New Inventory Guidance for Letting Agents & Landlords
Ahead of the Tenant Fees Act TDS, ARLA Propertymark and the AIIC have released a guide on carrying out inventory reports.
The Tenant Fee Ban comes into effect on the 1st June 2019 and will prevent lettings agents and landlords from charging tenants for additional services such as property inventories.
This means that the costs for these necessary services will need to be covered by agents and landlords themselves, and will most likely lead to some letting agents bringing inventory services in-house to reduce costs.
With this in mind and in order to ensure best practice across the industry, TDS in collaboration with ARLA Propertymark and the AIIC have produced a document with guidance on deposit deductions and disputes over unclear or poor-quality inventory reports. Hopefully this guide, if adhered to, will reduce disputes and give letting agents and landlords the knowledge & tools required to carry out thorough inventory reports.