All deposits for assured shorthold tenancies started after 6 April 2007 must be protected in a government-backed tenancy deposit scheme (TDP). In England and Wales the deposit should be registered with one of the major deposit protection schemes: Deposit Protection Service (DPS), Tenancy Deposit Scheme (TDS) or MyDeposits.
It is recommended the condition of the property at the start of the tenancy is recorded in an inventory. If there is a dispute about the condition at the end of the tenancy, the inventory will be used to decide what should be deducted from the tenant’s deposit.
The dispute guidelines of the DPS, TDS and MyDeposits state they are likely to add more weight to an impartial independent inventory than one created by a letting agent or landlord. It is equally important to ensure it is created to the highest possible standards of accuracy and reliability. Our inventory format has been approved by the Association of Independent Inventory Clerks (AIIC) and will be created in accordance with their guidelines and training.
In the unfortunate event of having to claim money from the deposit, an accurate independent inventory, with a clear statement of condition, will help reduce the disagreements as to the change in condition of the property from the start of the tenancy. This should give a quicker settlement as to recompense and if it is referred to the ombudsman, it will allow them to reach the correct decision more accurately.