Calls for government to make independent inventories compulsory

Calls for government to make independent inventories compulsory

The Association of Independent Inventory Clerks has urged the government to introduce compulsory, unbiased and regulated inventories as an industry standard.

With over 850 members nationwide, the AIIC believes that regulated inventories could help to significantly raise standards in the lettings industry.

According to a tenant survey carried out by HomeLet, some 12.5% of 20,000+ renters have had a deposit withheld.

The most common reasons for this were cleaning and redecoration costs, details which can be clearly outlined in a professionally compiled inventory. The research also found that only 70% of tenants surveyed received an inventory of the property and its contents from a letting agent before they moved in.  

The AIIC notes that it’s unclear what proportion of these reports were produced by the landlords or their agents, rather then a professional inventory clerk with no prior links to the property.


Danny Zane, joint Chair of the AIIC, says: "With the election over and a new housing minister now in place, it's time for the government to think about housing and in particular the growing private rented sector, which now accounts for around a fifth of all households.

Independent, third party inventories are a fundamentally important part of the lettings process and they need to be made obligatory."

In the past, politicians have been quick to praise the success of compulsory deposit protection - introduced in 2007," says Danny Zane. But if there is no unbiased inventory detailing the condition of the property at the beginning and end of the tenancy, then all this good work is undermined and it could be argued that taking deposits and protecting them is essentially rendered pointless.”

Landlords and letting agents should not be compiling what can very easily be considered as biased inventory reports that tenants must sign prior to getting access to their new home.

The proposed ban on letting agent fees charged to tenants has hogged all the headlines in recent months but there are other industry issues the government needs to think about. This ban seems very short-sighted to me as it is likely to encourage a rise in rents as well as a reduction in the protection of unbiased inventory reports being used.

An unbiased and independently compiled inventory can save both tenants and landlords money, ensuring a fair move-in/move-out process for all parties."

It is alarming to think that this integral part of the lettings process is not treated with the same importance as tenancy agreements and deposit protection."

Join our mailing list:

Leave a comment



Latest Comments

Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

view article
maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

view article
maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

view article
zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

view article
Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

view article
Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

view article
RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

view article
sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

view article
Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

view article
Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

view article
Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

view article
Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

view article

Related stories

More articles from Landlords