So What Exactly Is An Inventory Clerk Business?
Well in simple terms running your own Inventory Clerk Business involves compiling a simple report which is basically a list and description detailing the contents and condition of a house or flat prior to the property being let out to a Tenant.
This report is known as an Inventory Report. In addition to the Inventory Report, the Inventory Clerk will also be booked to compile a Check-In Report, Interim Report and a Check-Out Report which are also required at appropriate stages of the Tenancy. The various types of Reports are required and commissioned by Letting Agents and Landlords.
Why Are Inventory Reports Required?
The services of independent Inventory Clerk Businesses are in huge and increasing demand particularly in the current economic climate.
In today’s Letting Market, it is essential for Landlords to safeguard themselves against damage to the fixtures and fittings of their property by using the services of professional independent Inventory Clerks. Since the introduction of the Tenancy Deposit Scheme the role of professionally trained Inventory Clerks and the Inventory Report services they provide has become increasingly important.
The most effective way to do this and avoid disputes arising at the end of the Tenancy is by having the Tenant agree on the specific condition of the property and its fixtures and fittings before they begin occupancy. This can be achieved by using the services of a professionally trained independent Inventory Clerk. The Inventory Clerk will prepare an Inventory Report prior to the start of the Tenancy and then go through the Inventory Report with the Tenant on the Check-In day and get the Tenant to sign and date the Inventory Report thereby agreeing to the property’s specfic condition.
By using an independent Inventory Clerk to provide a professional Inventory service both at the start and other stages of a Tenancy, a clear signal is given to the Tenant that they will be held fully responsible for any damage, necessary repairs and renewal costs other than acceptable fair wear and tear.
When you consider the costs involved with both the purchase and maintenance of a property, plus the time and expenditure spent on the presentation, there is no doubt whatsoever that an independent Inventory Report compiled by a professionally trained Inventory Clerk is an essential tool in successful property management.
But Don’t All The Letting Agents Compile Their Own Inventory Reports?
It would be a big mistake for you to think that! Although some of the larger firms, particularly some of the national chains, do employ their own staff to compile their Inventory Reports, not all do. In fact a very high number, including many of the smaller privately owned Letting Agents, actually prefer to farm out their Inventory requirements to independent Inventory Clerks. By doing things this way they avoid high staff costs and benefit from increased profits by simply adding a markup to the Inventory Clerk’s prices which is in turn passed on to the Landlords they act for.
Please remember that we also run our own highly successful Inventory business and have done since 2005. Some other companies only provide training courses and do not run Inventory businesses.
Take a look at our Company website: www.firstinventory.co.uk
If you have any questions about our course or about starting your own Inventory business, then please contact Stephen or Janette:
T: 01483 370660
M: 07778 584440
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