New ‘best practice’ guidance to letting agents and landlords has been introduced ahead of the introduction of the tenants’ fees ban in June.
The guide is from the Tenancy Deposit Scheme in collaboration with Propertymark and the Association of Independent Inventory Clerks and aims to provide clarity regarding deposit deductions and disputes over unclear or poor-quality inventory reports.
TDS previously issued guidance on inventories in a document entitled A Guide to Check In/Out Reports, Inventories and Schedules of Condition; the new guidance is the first to pool knowledge from three bodies.
“The Tenant Fees ban will have a profound impact on the whole industry, but the sector must not underestimate the importance of a thorough inventory. They provide certainty for all involved, add clarity at the end of a tenancy, and help resolve disputes” says David Cox, chief executive at ARLA Propertymark.
“In the new world after the tenant fees ban comes in agents will need to take an evidence-based approach to default fees, damages and disputes. Only by ensuring that an inventory took place can agents protect their clients’ investments and reduce costs in the long-run” he says.
Danny Zane, chair of the Association of Independent Inventory Clerks, says: “We are currently working alongside government policymakers as well to ensure reports are safe and secure for everyone."
And Michael Morgan, TDS director of dispute resolution, says: “We take the view that we serve the interests of all parties to a tenancy best by considering check-in and check-out reports based on their content rather than who compiled them.”