Real Estate Inventory
Whether you are a tenant looking for a home to move in, or a landlord looking to protect their investment, the inventory of property and of the condition it is in is a vital document.
What is inventory?
The inventory of a property is an addendum to the lease contract. Its purpose is to create a concrete overview of the real estate and of the existing goods, as well as the condition in which they are at the time of renting.
The inventory includes an extensive list of the items you already have on the property you are going to rent, along with detailed pictures.
At the end of the contract period, the inventory helps you to quickly identify any damage caused during use.
What does a property inventory include?
A property inventory should detail the condition of each room. This includes (but is not limited to) walls, floors, ceilings, doors, etc. Basically, anything you can see is written down. Even if there is only a small stain on the carpet or a scratch in the paint. All this is detailed in the report. The inventory document comes with photos.
Each room should be photographed, highlighting all key areas. For example, if the kitchen tiles have a defect (e.g., a scratch), then it will be highlighted in the photo and mentioned in the report. An additional photo in which we have an object placed next to a possible defect (e.g., scratch, crack, etc.) will help identify its size.
Did you just install a new washing machine? We’ll make sure we take a picture of the unit as a whole. Anything that could be damaged inside the house will be included in the inventory. This is not limited to objects, as structural characteristics are subject to the same obligation. Please find below a list of examples of goods to be included in a property inventory:
Goods found in a real estate inventory
Windows and blinds
In legal terms, in most cases, a list of objects listed on a piece of paper, without details, without a date or without the signatures of the parties involved, will be void when it comes to disputes between landlords and tenants.
Why do you need the help of a professional?
Even if they (landlords or tenants) can draw up their own inventory, many choose to hire a professional to make sure everything goes smoothly.
They always have the necessary capabilities and experience to point out concretely and precisely where damage is most likely to occur, making sure landlords do not miss any important object/place of the real estate.
Landlords need to be aware that an inventory made by themselves could cause problems in the event of any dispute. Institutions qualified to settle legal disputes will always favour inventories made by professionals, to the detriment of those made by the landlord.