Frequently Asked Questions
How would the inventory provider being a member of APIP help the landlord or tenant... ?
The Landlord and Tenant can be confident that the description of the property and its condition both at the start and end of the tenancy will be made by someone who has undergone training and assessment and who understands the importance of unbiased and detailed notations. The APIP member is required to comply with their Code of Practice and in the event of the agent or a landlord or tenant not being happy with the service they receive the are able to make a formal complaint to the Association.
Why do I need an independent inventory... ?
The Government awarded contracts to four companies to run the new Tenancy Deposit Protection Schemes from 6th April 2007. With a few small exceptions, all tenancy deposits will now have to be registered with one of the three schemes.
How will the deposit be returned in the future...?
After Check Out, landlord and tenant will be asked to agree the terms of the deposit return. If they do not agree on any deductions to be made, (i.e. there is a dispute) it will be referred to the new adjudication services.
Adjudicators will review all documents (inventories, check-in schedules, check-out reports etc) before reaching judgments on disputes. It is therefore essential that all evidence is full, detailed, unbiased and preferably independent.
Whose protected...?
The new legislation is primarily designed to protect tenants. Landlords will now be required to 'prove their case' if they need to deduct from tenants deposits.
What are the deposit schemes... ?
Statutory tenancy deposit schemes will apply to all assured short hold tenancies, where a deposit is taken after 6th April 2007, in England and Wales.
There are two types of scheme, a "single custodial scheme" (where deposits will be paid into and held in a separate account managed by the scheme) and two insurance backed schemes where the Landlord or Agent will hold the deposit and any failure to repay it to the tenant will be covered by the scheme's insurance arrangements.
Deposit protection
My deposit
TDS
Capita
What happens in the event of a dispute ... ?
Where landlord and tenant are in agreement at the end of the tenancy, the deposit will be repaid according to their agreement.
Where a dispute arises then two options are available. If both Landlord and Tenant agree they can use the free Alternative Dispute Resolution (ADR) Service offered by the scheme operators. An Adjudicator will assess all documentation and make a judgment which both Tenant and Landlord will be bound by.
If either the Tenant or the Landlord do not agree to use the ADR service, then the matter must be referred to the County Court for judgement.
What's the benefit for me of an inventory prepared by Assured Inventory Management... ?
An independent inventory prepared by AIM doesn't cut corners. We thoroughly examine all fixtures, furnishings and decoration and describe the type and condition accurately.
We dictate and type every report individually to assure accuracy and clarity at the time of check-in and check-out so reducing the possibility for later disagreement.
We provide a fully bound copy of every inventory to the Agent, Landlord and Tenant. The Agent will usually hold the fully signed master copy which the Tenant has initialled on each page stating their agreement to its contents.
At the time of check-out we inspect the property and provide a schedule of Dilapidations.
The Schedule of Dilapidations provides an independent assessment of fair wear and tear having regard to the period of the tenancy.
If necessary recommendations are made for appropriate financial compensation or remedial works which the Landlord and Tenant are at liberty to agree without prejudice to their statutory rights.
We have been putting this collaborative and non-adversarial approach into practice successfully for Landlords and Tenants for over 24 years.
So long as Assured Inventory Management are appointed to make the original inventory and check-outs of the property, subsequent new inventories are free of charge.
How would the inventory provider being a member of APIP help the landlord or tenant... ?
The Landlord and Tenant can be confident that the description of the property and its condition both at the start and end of the tenancy will be made by someone who has undergone training and assessment and who understands the importance of unbiased and detailed notations. The APIP member is required to comply with their Code of Practice and in the event of the agent or a landlord or tenant not being happy with the service they receive the are able to make a formal complaint to the Association.
Why do I need an independent inventory... ?
The Government awarded contracts to four companies to run the new Tenancy Deposit Protection Schemes from 6th April 2007. With a few small exceptions, all tenancy deposits will now have to be registered with one of the three schemes.
How will the deposit be returned in the future...?
After Check Out, landlord and tenant will be asked to agree the terms of the deposit return. If they do not agree on any deductions to be made, (i.e. there is a dispute) it will be referred to the new adjudication services.
Adjudicators will review all documents (inventories, check-in schedules, check-out reports etc) before reaching judgments on disputes. It is therefore essential that all evidence is full, detailed, unbiased and preferably independent.
Whose protected...?
The new legislation is primarily designed to protect tenants. Landlords will now be required to 'prove their case' if they need to deduct from tenants deposits.
What are the deposit schemes... ?
Statutory tenancy deposit schemes will apply to all assured short hold tenancies, where a deposit is taken after 6th April 2007, in England and Wales.
There are two types of scheme, a "single custodial scheme" (where deposits will be paid into and held in a separate account managed by the scheme) and two insurance backed schemes where the Landlord or Agent will hold the deposit and any failure to repay it to the tenant will be covered by the scheme's insurance arrangements.
Deposit protection
My deposit
TDS
Capita
What happens in the event of a dispute ... ?
Where landlord and tenant are in agreement at the end of the tenancy, the deposit will be repaid according to their agreement.
Where a dispute arises then two options are available. If both Landlord and Tenant agree they can use the free Alternative Dispute Resolution (ADR) Service offered by the scheme operators. An Adjudicator will assess all documentation and make a judgment which both Tenant and Landlord will be bound by.
If either the Tenant or the Landlord do not agree to use the ADR service, then the matter must be referred to the County Court for judgement.
What's the benefit for me of an inventory prepared by Assured Inventory Management... ?
An independent inventory prepared by AIM doesn't cut corners. We thoroughly examine all fixtures, furnishings and decoration and describe the type and condition accurately.
We dictate and type every report individually to assure accuracy and clarity at the time of check-in and check-out so reducing the possibility for later disagreement.
We provide a fully bound copy of every inventory to the Agent, Landlord and Tenant. The Agent will usually hold the fully signed master copy which the Tenant has initialled on each page stating their agreement to its contents.
At the time of check-out we inspect the property and provide a schedule of Dilapidations.
The Schedule of Dilapidations provides an independent assessment of fair wear and tear having regard to the period of the tenancy.
If necessary recommendations are made for appropriate financial compensation or remedial works which the Landlord and Tenant are at liberty to agree without prejudice to their statutory rights.
We have been putting this collaborative and non-adversarial approach into practice successfully for Landlords and Tenants for over 24 years.
So long as Assured Inventory Management are appointed to make the original inventory and check-outs of the property, subsequent new inventories are free of charge.