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BLOG: Why accurate inventories are more important than ever

nick lyons

The first thing I tell anyone is how important 'evidence' is in both deposit disputes and, now more than ever, monitoring fire safety compliance.

That’s why we need to make reporting easier for everyone to access and use, which led me to make our Kaptur software available to everybody.

For the first time, this gives everyone simultaneous access to the most secure and reliable property reporting resource, whether using the professional services of No Letting Go or the latest technology in the market.

Features include date and time-stamped evidence and digital check-in services, all logged against an audit trail.

This information enables landlords or agents to justify deposit deductions via a single platform if a tenant challenges them later. No Letting Go and Kaptur, combined under the name Konnect, is more than just another platform.

It extends the existing service that No Letting Go has provided agents for many years. With over 400 professionals across the UK. Konnect offers a wide range of inventory management reporting services through single point with lifetime storage.

The system's flexibility allows users to switch seamlessly between professional services and DIY reporting, offering the best service to clients and maintaining compliance requirements.

Landlords

This kind of service is popular among landlords and agents because it not only speeds up negotiations and reduces end-of-tenancy disputes over deposit deductions resulting from property damage or changes but also offers lifetime storage, auditing and access to historical information.

For those managing multiple properties, this is a significant benefit. Disputes are determined at the beginning of the tenancy, not the end.

The essence of everything is evidence. If you get your paperwork aligned at the outset, you minimize ambiguity and create clarity between the two parties, saving time and money.”

Ambiguity

Problems arise when there is ambiguity, often due to poorly written tenancy agreements or insufficiently detailed inventories. Regular mid-tenancy reporting and thorough check-outs are essential. Using either Kaptur or No Letting Go’s services can address these issues,” Nick explains.

No Letting Go recognizes that landlords and agents want to provide the best service to tenants while protecting themselves from loss through damages.

They also want the flexibility to combine DIY reporting with professional services. This is why many landlords and agents use No Letting Go for inventories and check-outs while using Kaptur software for regular mid-terms, pre-let reporting, and viewings.

The advantage of one system is the ability to switch between services as needed. The key point here is about protecting all parties. mydeposits want high-quality information to streamline the process, and No Letting Go with Kaptur provide this.

If the inventory isn’t detailed enough at the beginning, landlords or letting agents face a drawn-out negotiation process at the end of the tenancy.

Some landlords still don’t use inventories, believing it’s fine because previous tenants have been hassle-free.

But they don’t realise the significant costs and difficult negotiations they could face if anything goes wrong. Not having detailed information throughout a tenancy is a risk not worth taking.

Author bio: Nick Lyons (main picture) is CEO of the UK's largest franchised property inventory management and property compliance reporting company - No Letting Go - and CEO of Kaptur Software.

Why are inventories important?

Comprehensive documentation: The necessity of including detailed descriptions and high-quality photographs in inventory reports to provide a thorough record of the property’s condition.

Consistency and accuracy: The importance of maintaining consistency and accuracy in reports to ensure they are reliable and reflective of the true state of the property.

Professional standards: How professional inventory services can help landlords and agents uphold high standards and reduce the risk of disputes and financial losses.

Find out more about the new partnership between mydeposits and No Letting Go.
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