Before renting your apartment, protect yourself and your tenant from legal disputes regarding the condition of the apartment upon move-in and move-out. Landlords hire inventory clerks to draft detailed inventories of the property. These inventories provide both a pictorial and print description of the property. All landlords should consider this document before renting.
What is Included in a Property Inventory?
The document will detail all the contents of the apartment before renting to tenants, along with its contents. For instance, if the apartment contains light fixtures, drapes, blinds or any type of furniture, the condition of the property will be listed on the document. To avoid conflict, customers will draft these documents to list everything that is included in the apartment at the time of rental.
The apartment's value and the value of the items at the time of rental are also included. Photographs are essential to documenting the condition of the apartment. Photographs are less disputable than a description that may be fabricated or misconstrued. All landlords will find this document essential to the rental process.
Why have a Property Inventory?
This document is essential to any dispute that requires a court trial or mediation. Most disputes may be settled between the landlord and the tenant with the document alone. Those cases that make it to court will be easily settled by a judge if proper documentation is presented during the course of the case. Typically, the property inventory contains enough information to settle most cases within a reasonable amount of time.
Legal fees, if the case goes to court, may be enormous. The property inventory is a money saver and time saver to help tenants and landlords avoid disputes over deposits and other damage to the property. Property Inventory may also be used for tax and insurance purposes.
What is the Procedure for Renting an Apartment?
After the tenant fills out the application and is approved, a check-in report is required. The report will detail the condition of the home and the items in the home at the time of rental. If the inventory item is present in the home, the condition of the item will be documented. The keys will be issued to the resident when the documentation is complete and each check list item is verified.
The check out report is provided at the end of the tenancy period. The assets of the property will be examined to determine how they compare to the condition prior to the condition before the apartment was move into. The checkout report will help the landlord renting your apartment determine if all the items were left in the same condition that they were found in. Normal wear and tear is normal, but extensive damage is not.