Three leading industry bodies are so worried about a reduction in inventory report quality and potential problems over bias after the tenant fees ban that they have joined forces to issue new guidance to letting agents.
The Tenancy Deposit Service (TDS), Propertymark and the Association of Independent Inventory Clerks (AIIC) claim that many letting agents will be forced to bring inventory services in-house rather than using external suppliers after the tenant fees ban goes live on June 1st.
The ban covers fees charged for inventory services and TDS, Propertymark and the AIIC are all worried that when the ban comes into force many agents will be unaware of best practice and, by filing unclear or poor-quality reports, cause problems when deposit deductions are disputed by tenants.
But the AIIC has also been quick not to give offence. Its chair Danny Zane says he realises that “many agents will show as highly professional as they will not bend from using unbiased 3rd party reporting”.
The new guide is designed to support letting agents by giving them the tools to carry out a thorough inventory report, and is the first in the sector to pool knowledge from three industry-leading bodies.
“TDS understands the concern of members on the issue of inventories as a result of the incoming tenant fees ban,” one of the authors of the guidance, Michael Morgan (left), says.
“However, TDS takes the view that we serve the interests of all parties to a tenancy best by considering check-in and check-out reports based on their content rather than who compiled them.”
Read the guidance in full.