Advice for Tenants: Deposits and Inventory
Friday, January 18
It is vital that tenants know their rights when renting a property, from the initial deposit to battles over missing items or damage, knowledge is definitely power! Many tenants jump in to rental agreements head first without actually finding out what they are liable for, not only does this lead to confusion at a later date it can also lead to losing out on cash when it comes to reclaiming security deposits. If you are planning on renting a property, here are just a few things to keep in mind.
To secure a property you are typically expected to put down between one and two months’ rent which is held for the duration of the tenancy. The deposit is a safety net for the landlord against any damage that may occur in the property and thanks to the 2004 Housing Act; all parties are protected in regard to appropriate return of the deposit funds. The legislation covers the following:
· Landlords will be required to join a statutory tenancy deposit scheme to safeguard deposits.
· Tenants will get all or part of their deposit back, if they have kept the rental property in good condition and are entitled to get their deposit back
· Alternative ways of resolving disputes will be offered to landlords and tenants these aim to be faster and cheaper than taking court action.
Once you have moved into your home the first thing you need to do is check, check and triple check the inventory. The inventory is one of the most important documents issued to tenants and serves as a key factor in deposit retrieval. Although the urge to start unpacking your thinks may be great, taking the time to carefully inspect the house will prove essential in the long run. Using the list of items within the property, check that each item is in the condition described by the landlord on the day you move in. If you find any discrepancies inform the landlord or agent straight away and take photographic evidence to back up your claim.
Finding the right landlord or estate agent can be tricky, we recommend using sites such as Rightmove, Zoople and Gumtree to aid your search along with reputable estate agents such as Alan Selby and Partners.