Inventory Management
An Inventory is more than just a list of items; in the property industry we are more concerned with condition. The point of an inventory is ensuring that everything within that property, whether it is furnished or unfurnished, to see what is in the property and what is the condition of it? So that at the end of the tenancy what we have is the ability to make an informed decision as to whether or not anything has changed. If something has changed it will either be the fault of somebody, and therefore a liability issue or it is going to be a maintenance and wear and tear issue. Therefore the inventory is the most critical document in terms of managing a property and looking after it as an asset and looking after its condition going forward.
The importance of Inventory to landlords from Nick Lyons on Vimeo.
