Landlords...
Protect your investment with an Independent, Professional Inventory, Check in & Check out.
In April 2007 the Government introduced tenancy deposit legislation, whereby it became a legal requirement for all Assured Shorthold Tenancies (where a deposit is paid) to have the deposit insured to prevent landlords simply not returning deposits or unfairly deducting monies which the tenants dispute.
At the end of a tenancy, if a landlord does not have a detailed inventory / check in at the start of the tenancy this will result in the tenant automatically receiving the deposit back in full, regardless of any damages that may have been occurred. This is because it is impossible to prove any such damages or dilapidations, without proof.
To insure the tenants deposit, Landlords or Agents must use one of the three approved Tenancy Deposit Protection schemes. If any other scheme is used, deposits are not protected in law. Failure to comply with the legislation and not register a deposit can result in the landlord having to pay the tenant three times the deposit (such an order would be made by a Local County Court Judge).
The Three Approved Schemes Are; Deposit Protection Service (DPS), My Deposits & Tenancy Deposit Schemes (TDS)
Useful Information...
Tenants deposits must be registered with one of the approved schemes, within 30 days of the monies being paid to the landlord or their agent (whomever receives funds can be held responsible of ensuring the deposit is registered).
Proof of registration of the deposit must be given to the tenant.
The Deposit cannot be deducted from during the tenancy, even in the event that the tenant causes any damages. Deposit deductions can only be agreed / disputed the end of the tenancy.
The Check out report must be sent to tenants within 10 days of the check out along with any deductions requested.
If there is no dispute either the full amount of the deposit or the remaining amount after agreed deductions, should be paid back to the tenant within 21 days.
In the event of a dispute if a landlord and tenant are unable to reach an agreement, either party can raise the dispute with the deposit protection scheme that the deposit was registered with the relevant scheme arbitration may take up to or in some cases longer than six weeks, but any undisputed amount should be returned to the tenant.
Evidence is required by either party as evidence to support their statement / claim. Such evidence would consist of Tenancy Agreement, copy of Inventory and or Check in and Check out (and pictures), any written correspondence and any invoices or quotations. Mid Term inspections can also be useful to rely apon if trying to claim for damages caused during a tenancy (if you can pinpoint between the check in and check out where this may have occurred).
Reputable Estate Agents value their clients and grow / build their business on testimonials and customer service. Therefore it is vital to try and ensure that Landlord’s are happy at the end of a tenancy and that the property is rented again as quickly as possible.
Tenancy disputes can sometimes be unavoidable, but as an agent you want to ensure that you have provided clients with the right tools and advice. This will help both protect your business and ensure your clients are happy with your services.
By using Independent Inventory Clerks your landlords and tenants can be assured that an unbiased view is being taken as to the condition of properties.
This is also time and cost effective; by not having to train or employ staff to do this and free them up for work in more profitable areas of the business.
It also means that the agent becomes removed from the inventory, check in and check-out process and any problems that a landlord or tenant may have with the documents can be passed back to the inventory company to resolve.
This also ensures that an agents does not have complaints from either party throughout any dispute and blame cannot be attributed to them for the outcome.
Pearl Inventories will provide you with efficient and professional services and will always go that extra mile to ensure we keep you happy, as well as landlords and tenants.
Some agents may also find it useful and even cost effictive, to also use our Mid Term Inspection service.
Again this can free up your staff, reduce training and ensure that potential issues are not missed and creating professional reports to frequently send to your landlords, improving your reputation as a professional agency.