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How
to Prepare Your Landlords Inventory
So You Can Avoid Painful Losses PART 1
Many
landlords do not bother preparing a landlords inventory and they only
worry about it when the damage to their property is done and it's too
late for regrets. Learn how to draw up a proper landlords inventory and
protect yourself from any unnecessary repair bills.
What
is a Landlord Inventory and Why is it Important to You?
A
landlord inventory is simply a written record of all the contents of
your rental property and their current condition. It's also known as a
property inspection form or move in check list. If you want
a free sample, Click
here for our tenant move in check list.
This
contents will include any furniture, appliances and fixtures that
belongs to you. If you want to be more detailed, feel free to include
any structural features of your rental property such as the flooring,
roofing or paint work.
As a picture speaks a thousand words, you
may want to consider taking photographs or even videos of every room in
your rental property to back up your inventory list with visual
evidence.
Major
Reasons for Having a Well Prepared Landlord Inventory
From
our personal experience, having an extensive inventory list is
crucial for every rental property owner. It's priceless for rescuing
you from painful headaches and losses when you are faced with the
following situations:
Let's say your tenant damaged your
property due to abuse or neglect. If you want to claim repair bills by
deducting it from his security deposit or asking for it outright, it's
best that you have your signed landlord inventory ready in hand.
Since
the landlord tenant laws in most areas are more protective of
residential tenants, your tenant is definitely allowed to raise his
hand to protest about the repair bills you are trying to claim. Without
your inventory list as hard evidence, your tenant is likely to
get
away without forking a single cent for the damage he has caused.
Having a
complete inventory also makes your life much easier if you are trying
to claim money for your landlord
contents insurance.
If
your rental property is unfortunate enough to be ruined by natural
disasters, vandalised by the neighbourhood thugs or broken into by
burglars, you can ensure that your insurance company will compensate
for every cent if you have a inventory list to paint a vivid
before-and-after picture.
If you have read our guide
to landlord rights,
you will know that your tenants are not allowed to make changes to your
property contents or add any fixtures without your permission.
If
your tenant decides to drill offending holes into your wall to install
hanging book shelves without informing you, you can have them remove
the book shelves and fill up the holes as long as you have landlords
inventory in hand.
Are
you ready to find out how you can prepare the perfect landlords
inventory list to protect the contents of your rental property?
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