Allowing For Fair Wear And Tear In Inventory

When undertaking inventory as a letting agent, one of the things that you have to take into account is fair wear and tear. If you are like many people doing inventory you may well be using a free inventory report software which makes the process of inventory so much better in many respects. It can help to speed up the whole process, while at the same time ensuring that you don’t overlook anything.

However, one of the things that a free inventory report software can’t do is to allow for fair wear and tear. That is an assessment that has to be undertaken by the inventory clerk and he or she has to use their experience and common sense to assess a range of factors in deciding what is, and what isn’t, fair wear and tear.

One of the first things to consider is the quality of the item being assessed, and that can vary considerably. Obviously, a top-quality item will last a lot longer than a cheaper version. It is also necessary to consider the usual life expectancy of the item. In addition, there is the question of the condition of the item at the start of the tenancy because, for example, it could have been halfway through its’ life expectancy at check in.

The there is the condition at check out. Has the item been subjected to more wear than would be normal? It is also necessary to consider the number of tenants and how many adults and children there are when appropriate. For instance, a carpet will be subject to more fair wear and tear if there are four people in the household than if there are only one or two.

The tenant has a duty to leave the property at the end of the tenancy in the same condition it was in at the beginning, after allowing for fair wear and tear. When considering compensation, fair wear and tear has to be taken into account along with the most appropriate remedy for repair or replacement. It is also essential to ensure that the landlord is no better off materially or financially at the end of the tenancy, having taken those factors into account.