Property Management – The Inventory Process. Covers – Inventory, Check In, Check out, Fair Wear & Tear.

 

The TSA ‘Inventory Process’ Course has been produced and written by industry experts who have trained Inventory Professionals (independent clerks, landlords and agents in house staff) for the last 15 years. Constantly updated and refined to provide you with the best training available.

The TSA Certificate of Achievement will be issued following the final assessment and students can use the initials – ‘CTIP.TSA’

What is an Inventory?

An Inventory is a vital part of every letting process as it will be used as documentary evidence to establish the condition and contents of a property at the start and end of a given tenancy.  A rental property is any landlord’s biggest investment, but without the solid protection of a fully detailed inventory it will be impossible to reclaim any compensation from the tenant for damage, extra cleaning or gardening or replacements.

An inventory will contain detailed information about a Landlords property, including the décor, fixtures and fittings, all contents, the garden and any outbuildings. At the end of each tenancy this detailed document enables accurate assessments to be fairly made regarding issues chargeable to the tenant.

Should there be an end of tenancy dispute the inventory will be used as the primary piece of evidence by deposit scheme arbitrators or in a court of law.

With the new Tenant fee ban and other regulations it is likely that landlords will feel the need to save money by compiling their own inventories and arranging their own tenant hand overs/end of tenancy inspections (check outs). It is vital that whoever provides this service has quality training which will provide the knowledge needed for a safe inventory process – compiling the inventory, checking in the tenant and the check out inspection.

The Check In

The purpose of a Check In is to ensure that the inventory contents and descriptions are correct at the time that the tenants take on the property.

Ideally, either landlord, clerk or agents representative would meet the in-going tenant and carefully check through each item on the inventory, noting any changes or additions.

During the Check In, the person carrying out the inspection would also provide a summary declaration of the condition of the property, list all keys and permits handed over to the tenants and take any applicable meter readings.

The tenant will then sign the inventory and declaration to certify that they are happy with all comments listed. This inventory and declaration will be used at the end of the tenancy to make detailed comparisons about any changes – ie. damage caused, cleaning required or replacements necessary at the tenant’s expense.

The Check Out

The purpose of a Check Out is to conduct a detailed inspection of the property at the end of a tenancy, assessing and noting any damage or cleaning issues, and checking for missing items. An Independent Inventory would also note they returning keys, ensuring that these are the same as were given at the Check In, make a note of the tenants contact details and forwarding address before finally making a note of the final meter readings.

Once the Check Out is concluded, a detailed report is compiled listing the changes complete with supporting photographic evidence of any serious issues and make suggestions for compensation costs, fair wear and tear or other actions required to return the property to the correct standard.

This course has been produced and written by industry experts who have trained Inventory Professionals (independent clerks, landlords and agents in house staff) for the last 15 years.

COURSE BENEFITS.

Learn accepted practice and methods from industry experts,

Study in your own time and at your own pace

The course covers a wide variety of information and case history topics  to ensure that students are fully conversant with the important regulations and information needed to begin your Inventory business.

The method of learning is via easy to understand Modules, each with a set of assessment exercises at the end to reinforce your learning.  The answers should be emailed to the course tutors who will ensure that you progress safely and efficiently.

There are no course deadlines and you will get lifetime access to course materials – on receipt of payment the whole course will be emailed to you in pdf format to enable you to begin your studies immediately.

You will also learn safe business practices right from the start.

The final module contains a Final Assessment which if you choose to can be completed and emailed to our tutors, successful candidates with then receive the Training Solutions Academy ‘Certificate of Completion – Inventory Process.’ This will give proof of  competence in your chosen field, giving confidence to both you and your clients.

The course tutors are available at any time via email should you need any help or advice during the course.

Course Syllabus

Module One – Before Your Start

  • Overview of The Inventory Process
  • Meters and how to read them
  • Brief guide on Gas and Electrical requirements
  • Smoke Detector/CO Regulations
  • Furniture & Furnishings (Fire) (Safety) Regulations
  • Duty of care

Module Two – The Inventory Process

  • What is an inventory
  • The Inventory layout
  • Tools of the Trade
  • Overcoming Inventory Situations
  • How to Compile an Inventory

Module Three – The Check In

  • What is a Check In
  • How Check Ins Work
  • Check In Tenants and Situations
  • Note for the Check In Inspection
  • Inventory Updates

Module Four – The Check Out

  • What is a Check Out
  • How Check Outs Work
  • Check Out Tenants and Situations
  • The Check Out Inspection – Danger areas room by room

Module Five – The Check Out Report

  • Types of Check Out Report
  • Guide to Check Out Report Layout
  • Compiling your Check Out Report
  • Compensation – working out how much compensation applies and when charges should be made

Module Six – Fair Wear & Tear

  • What is Fair Wear and Tear
  • Lifespan Limitations
  • What is and is not Fair Wear and Tear
  • Judging Fair Wear and Tear – What You Need to Know
  • Final Assessment – the TSA Certificate of Achievement will be issued, students may then use the initials – ‘CTIP.TSA’

Course Cost – £125

Property Management – Inventory (TSA)

Buy our online course today! Students will be emailed course material in PDF format within 48 hours of purchase.

£125.00