Landlord Inventory Template for First Time Landlords

What is a Landlord Inventory?

A landlord inventory or property inventory details the contents and condition of a rental property at the beginning of a tenancy. It is often prepared by an independent party, although it can be done by the landlord themselves, and should be completed on the day that tenants move in. Both the landlord or independent party and the tenants should initial each page, sign the document, and each receive a copy to keep. Most landlords give the tenants up to seven days to report any issues they have with the given inventory, after which time it will be considered valid. If any items in the property get damaged outside of normal wear and tear or go missing, they can be identified by reviewing the property inventory.

The property inventory includes all fixtures, fittings and furniture included in the property, including door handles, carpets, light fittings, and more. You can include other things like gas and electric meter readings, whether or not the property was professionally cleaned before the beginning of the tenancy, when each room was last decorated, and how old the furniture and other items in the property are. Photographs are usually included in the property inventory.

FAQ: What’s the difference between a property inventory and a schedule of condition?

A property inventory features a detailed list of all items, furniture and appliances included in the rental property, whereas a schedule of condition is about the state of the property itself, including any pre-existing damages or defects in the walls, ceilings, or other parts of the property, plus a record of any repairs and maintenance. They can be done at the same time, and both provide an accurate record of the property and can help to avoid disputes between landlords and tenants. 

Why Do Landlords Need to Do a Property Inventory?

Landlords should complete a property inventory with their tenants to avoid any potential disputes or misunderstandings between them and their tenants regarding the condition of the property and the items included. If there are differences between the property inventory from the beginning of a tenancy and following an end-of-lease inspection, this could be sufficient grounds to retain part or all of a tenant’s deposit. 

Can I Do My Own Property Inventory?

Some landlords use a professional third party to do their inventory checks as they are experienced and know exactly what should be included to protect both parties, and also for impartiality. It is possible to do the property inventory yourself, as long as both you and the tenant agree on the condition of the property and its contents at the beginning of the tenancy. Since the Tenant Fees Act of 2019 came into force, it is illegal for landlords to charge tenants for the cost of preparing an inventory, so the landlord is responsible for any costs incurred. See below for our property inventory template.