Posted in Properties

The Perils of Not Having an Inventory

The inventory report is a very important part of every tenancy agreement. It’s also very useful to have one when you want to protect your property from the different outside and inside dangers, which might hurt it. More and more people decide to conduct such an inventory to protect their most valuable possessions. But some people still don’t believe in the efficiency of these reports, and decide not to conduct them. And this is where they make a huge mistake. The properly conducted inventory can be even lifesaving in some rare, but still possible cases. For those, who still feel reluctant to the idea, here are listed the perils of not having an inventory done. After you read this, you can think it over again, and maybe make the right decision for your property and for you. 

The Perils of Not Having an InventoryScams. Many tenants become victims of rental scams, only because they haven’t demanded a full check in report in the beginning of tenancy. If you don’t have such a report, your landlord can practically blame you for every kind of damage there is in the property, no matter if you actually caused it or not. This way you can end up paying thousands of severance just for nothing. And I’m certain nobody would like this. This is why every landlord and tenant should be very careful when beginning or ending a tenancy, and make sure the property has a comprehensive inventory report, with every little item and scratch described in there. It will save you a lot of trouble.

Disputes. The inventory report is also created to resolve any disputes between landlords and tenants during the tenancy period. Not having an inventory report during the tenancy would be a real peril both for the landlord and the renter. If they don’t have a report and something in the property shows signs of damage, there is no way to prove if it occurred before the tenant moved in or it was caused by him. These situations are very unpleasant and can’t be resolved in any way. And this lack of clarity can destroy even the most stable business relationship. This is why you should just demand an inventory report at all times, and read everything thoroughly.

The Perils of Not Having an InventoryLosses. As you know, nothing is ever safe in our brutal world. Every day we read many horrifying stories about accidents and robbery. When so many people live in the same planet this is an unavoidable disaster. The peril of not having an inventory in this case, is that if anything happens to your property, you will have no idea what are your losses, how much money would you need to restore them and what exactly did you lose. Not knowing these things will make getting your insurance severance a lot harder and even impossible. So, think twice before you refuse conducting an inventory.

Natural disasters. The natural disasters are the most unpleasant part of living in our world. We don’t have any power over them and they can finish our existence in just moments. And they can happen at any time – floods, wild fire and tornadoes. There aren’t many things, which we could do to protect ourselves. We can only pray for our homes to stay whole and after it’s over, we can count the losses and start rebuilding everything. But it’s hard to count losses when you don’t have an inventory report to show you how much does everything in your home cost. This is why everyone nowadays conducts inventories – to make sure their home will be safe and protected no matter what.


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