To anyone outside the lettings industry, taking inventory may seem an easy job. It’s just a case of just getting a clipboard and walking from one room to the next making a note of things as you go. That’s it, isn’t it?
Well, of course, as an insider you will know that it isn’t as simple as that. We wish! There is a lot more to taking inventory and taking it accurately than meets the eye. A whole section of industy exists in the form of inventory companies who take their instructions form mainly letting agents but now increasingly from landlords directly too.
Quite a number of letting agents prefer to outsource their inventory because of the amount of time it can take doing it in-house. When you are managing 300 or 400 properties, doing inventory is a full-time job for someone, so outsourcing it may be the best option. Many inventory clerks are members of a professional body such as the Association of Independent Inventory Clerks or ARLA Propertymark Inventories both of which run training courses and offer a qualification/accreditation route. In addition, both organisations need members to carry indemnity insurance so letting agents can handover work with peace of mind.
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