Creating a full inventory report is essential for any type of home rental business. Inventory reports allow you to take stock of the condition of furniture, furnishings and appliances that you have in any given room or house. It’s a smart way for landlords to protect their belongings during a rental, while it also provides a safety net for renters too, as it enables them to double check everything is there and in working order before they sign on the dotted line.
Saying this, creating a full inventory report can be a lengthy process. Plus, with so many other things to consider when it comes to renting a property, sometimes items can get missed in the process. Creating these inventory reports requires a good system and a little patience, but the payoff and protection is worth it in the long run. Read on for our top tips on how to create and capture everything in a room for an inventory report.
Use an Inventory Checklist
The most standard procedure is to use a full inventory checklist in order to go through each item in the room. There are printable checklists available, which will list everything from kitchen appliances like refrigerators and microwaves, to walls, ceiling, windows, drapes, lights and so on. These checklists will contain a number of columns which allow you to go into the specifics of each item on the list. You will be able to jot down the quantity, the condition, and the date of inspection. It is best to fill out the ‘condition’ part on arrival when you do a walkthrough with the new tenants. When it comes to the end of the lease, you can note down the condition as you do a walkthrough with the tenants too.
Capture the Room
Writing things down is a good idea and it has been standard practice for many years, but in order to make sure that you don’t miss anything, it is always best to take photographs on the room. Make sure that you capture all angles and take close up images of things that may be worn or are particularly valuable. It is also a good idea to use a camera that is able to date and time stamp your photos, so there is proof should there be a dispute later on.
Store Your Data Carefully
Capturing information is essential, but it’s equally as important to store your data carefully. Put all documents and images into a clearly labelled folder on a cloud based service such as Dropbox, so that it is not wiped should something happen to your laptop, camera, or computer.
Use Trusted Inventory Software
If you really want to save both time and money, then we suggest using property inventory software. Inventory Hive are one of the leading software providers in property inventories. Their software allows you to record 360 images of any room in a house. The integrative and immersive technology makes sure that nothing gets left behind, and that you are always protected when it comes to property inventories.