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Compulsory inventories needed for lettings market, trade body says

21 June 2017 / By: / Under: Landlords

The Association of Independent Inventory Clerks (AIIC) is calling on the government to introduce compulsory inventories to help drive up standards in the lettings industry.

Compulsory inventories

Research carried out by Homelet reveals that tenants who have had their deposit withheld did so because of issues which would have been included on an inventory.

In addition, only 70% of tenants included in the survey said they received an inventory at the start of their tenancy.

According to the AIIC, a detailed inventory put together at the start and end of every tenancy can save money, hassle and time for both landlords and tenants, while reducing the likelihood of a dispute occuring.

Danny Zane, joint Chair of the AIIC, said: “Independent, third party inventories are a fundamentally important part of the lettings process and they need to be made obligatory.”

Zane stresses the need for an independent inventory to guide every single tenancy, making everything fair and transparent for landlords and tenants.

In referencing the impending ban on letting agents’ fees for tenants, he said: “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 process for all parties”.

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