New TDS Tenancy Guide:
The Tenancy Deposit Scheme (TDS) has just launched its timely new guide for agents, landlords and tenants on how to set-up and end a tenancy correctly, avoiding the minimum of fuse and deposit disputes.
With record numbers of tenancies ending in September 2017, the TDS expects the third Thursday in September will see a record 18,000 tenancies coming to an end. This compares to an average monthly total of 1,300.
The Guide to Check-in & Checkout Reports, Inventories & Schedules of Condition is a downloadable .pdf document which deals with the important process of completing a comprehensive inventory and much more:
- recording the condition of the property, together with any fixtures, fittings, contents and decoration, and with relevant meter readings (the ‘inventory’), immediately before the tenancy starts
- getting the tenant’s agreement to this record of condition (often done by visiting the property with the new tenant(s) to make sure they agree with the property’s condition (the ‘check in’); and
- recording the condition of the property when the tenancy ends in order to identify what has changed (the ‘check out’).
The guide includes the latest advice on what to do when a tenant is due to move out of a property, in particular highlighting the key points to address before, during, and after a check-out inspection.
It also guides landlords and agents with advice on the best approach for negotiating the return of the deposit and promotes the use the new deposit deduction template, recently developed by TDS, to hasten an early agreement.
Michael Morgan, director of dispute resolution at TDS says:
“We see many disputes where a few simple steps taken before the end of the tenancy could avoid problems later on. Tools like our new guide and the deposit deduction template provide a solid structure and basis for end of tenancy procedures and to improve deduction negotiations. If tenants better understand the reasons for deductions at an early stage and can see the justification for them, they are much more likely to agree”