Nov

Inventories ‘key tool’ for landlords seeking to comply with looming rent reforms

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Inventories will be key to easing the sector’s fears when England’s rent reform proposals become law, says No Letting Go CEO, Nick Lyons (pictured).

He believes that everyone wants decent homes in the PRS as well as a level playing field for letting agents and tenants.

“This is best achieved through transparency at the outset of a tenancy agreement, regular monitoring throughout its duration and a thorough, detailed inspection when the term comes to an end,” explains Lyons.

He says the Renters’ Reform Bill proposals take what is already best practice and make it a legal requirement.

“Reputable letting agents already operate at a level which is not threatened by these measures, but as an industry, letting agents and those servicing the sector must make sure that they are meticulous in all aspects of their operations”, he says.

Spot on?

Lyons adds that 80% private rented homes already achieve or surpass the Decent Homes Standard and while there are adequate protections in existence, it is important to ensure that protocols and compliance are spot on.

“This is the last line of defence,” he says. “Critical to that is the preparation of a professionally prepared inventory – agreed and signed off by both parties – to underpin every tenancy agreement and reassure agents and landlords that their properties are valued as homes and treated with due care and respect for the duration of the letting term.”

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