Do not ignore the inventory when acquiring a new home

New Home? Be sure to do a proper inventory before signing

An inventory can be easily forgotten when renting a new home. After all, there’s a lot of things that needs to be done to set up a move, such as exchanging contracts and keys, booking movers, etc. However, a thorough inventory is essential to avoid any potential issues between tenants and landlords further down the line.

Why an inventory is important? – It’s not just a list

It’s true, an inventory is a list, but it’s surprising at just how many people ignore it when renting a new home. That list is a detailed record of the contents of the property, so it’s vital that tenants take a much closer look at the conditions of these contents. By giving the inventory the attention it deserves, the tenant’s deposit will be much safer. Each landlord or leasing company is different; some may include everything down to the smallest picture hook, while others will simply list prominent items such as the stove or the television. If even a seemingly small item appears to be missing when the property has been vacated, the landlord could withhold part of the security deposit.

What to look for

If a tenant is unsure about the inventory taken, it’s worth seeking legal advice to clarify what exactly is in the document. It should outline everything that the leasing agent expects to be there when a tenant leaves. Absent items are among the most common reasons given when landlords opt not to return deposits. Cross-check what contents are there upon quitting the property with the original inventory and replace any lost or broken items before the final handover. It’s advisable to do on a final check and have the landlord sign to show that the inventory has been completed to both parties’ satisfaction.