Inventory Reporting – should you DIY or not?
To help you decide, here are three key considerations:
We want the reassurance of knowing our properties and our tenants are getting the best protection possible, we also want a partner that shares our values and is always evolving. That is why we use Letcheck, the AIIC Inventory Company of the Year, 2020. Tracey Hartley, Residential Director
2. Are tenants central to what you do?
You want your tenants to feel at home in their new property.
Happy tenants = longer tenancies and fewer void periods.
When it comes to property inspections, tenants want to feel a sense of privacy and independence. In our ongoing live survey, we have asked over 500 tenants who they would prefer to carry out their property inspections:
Taking the professional approach of employing the services of an independent specialist, demonstrates best practice and further helps build trust with tenants.
We look for a service partner that has the experience of taking on large BTR developments, drive industry best practise, can assist our administration team whilst delivering an exceptional and customised tenant experience. This is why Letcheck are our preferred inventory supplier. Lizzie Stevens, Director of Market Rent
3. Are you aware of upcoming industry changes?
From the Tenants Fee Act to the current ROPA consultation, a lot is happening in the lettings industry.
The Government have been consistent in their aim to professionalise the lettings market, as tenants become a more significant source of voting power.
The direction of travel is clear; the balance of power between landlord and tenant is rebalancing and initiatives that promote fairness are being adopted.
The idea of landlords carrying out their own property inspections is in direct conflict with Government aims of professionalism, fairness and transparency.
Investing in a process, such as DIY inventories, that potentially need to be dismantled in the years ahead, does not appear to be a wise strategic decision.
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