Why Check-out Inventory Report is Important?
The check-out process is an important aspect of tenancy management. Perhaps, it is one of the most sensitive and litigious times for tenants and landlords at the end of a tenancy.
Landlords want to recover the property in the same state as they let it and so they can re-let it straight away. On the other hand, tenants are most likely moving to a new home and trying to juggle the several things involved with moving to a new house which can likely forget to check that everything is done by the required standard.
Unfortunately, this could lead to disputes. For landlords, it could mean repairing and cleaning of the property and this means losing rental income during the time the property is being repaired for the new tenants to move in or for the property to be advertised and seen by potential tenants. While for tenants, it could result in the deposit to put at risk. It creates problems that could be easily prevented if every person knew what it is expected of them from the beginning.
Thus, a check-out is important at the end of a tenancy. It is done by an impartial party to avoid potential issues or bias.
What exactly is a check-out report?
Check out report is done at the end of a tenancy. It provides a thorough record of the condition of the property on the departure of the tenants. Each part of the house is inspected and assessed. It states whether any action is needed. The report provided clear evidence to justify deduction from the deposit of the tenants. It provides information to the landlord of what action should be taken before letting it out again.
The check-out report, together with the inventory at the beginning of the tenancy are evidence of the changes in the condition of the property. If disputes occur; such documents can be used as part of the negotiation process.
What are the benefits of the check-out report?
- A check-out report provides assurance to tenants that the checking is done without bias as the process should be done by an independent inventory specialist
- Tenants usually find the report is agreeable as the process is done without bias
- It saves time for both landlord and tenants
- It prevents unnecessary cost for the landlord as the process helps landlords for the property to be handed over without problems
- It helps provide a good relationship between the tenant and the landlord
- It makes the transition for new tenants’ smoother
- Issues can be identified earlier and thus actions can be done early before new tenants come in or before potential tenants view the property
Hamilton James provides property inventory services. We have trained inventory specialist that provides a comprehensive check-out report that both landlords and tenants can have confidence in. If you would like to find out our property inventory services, contact us today.