As a letting agent or landlord, you get used to spinning many plates without letting any fall, but there are probably some plates you wish you could forget about in order to focus on others.
Property inventory management is important to get right, yet it’s time-consuming. It could be one of your spinning plates that’s perfect for outsourcing to a specialist.
Why do letting agents outsource property inventory management?
A comprehensive property inventory management process includes a range of tenancy checks throughout the tenancy period. None of these are quick to do but investing the right time and resources into a comprehensive inventory management process pays dividends in protecting the property.
For the agent, advantages include:
• Saving time: A complete and comprehensive inventory schedule is time-consuming. Outsourcing can release more time for other work while also reducing the time and cost of dealing with fewer disputes.
• A wide range of reports: A comprehensive check can be completed at each stage of the tenancy.
• Better inventory reports: Updated to ensure regulatory requirements are captured, providing a complete property check in a clear format to prevent disputes further down the line.
• Specialist knowledge: Greater understanding of the latest Deposit Scheme guidance and experience to make a fair assessment.
• An objective perspective: Building trust with the tenant, confident that an impartial viewpoint is being offered, means they are less likely to dispute findings. An impartial viewpoint also makes it easier when applying to the tenancy deposit protection scheme to make deductions.
• Maintaining a good reputation: Providing an effective inventory management system protects all parties.
• Clear evidence in the case of a dispute: Clear evidence will prevent issues escalating to a serious problem. However, in the event of a dispute with a full audit trail, disputes will be resolved more efficiently.
• Up to date technology: The right tech can offer a flexible and robust system that is user friendly, is used anywhere and is readily updated to meet changing requirements.
The No Letting Go way
At No Letting Go, we understand how the benefits of outsourcing property inventory management can have vast implications for letting agents, giving them back the time to focus on activities to generate revenue for their business and their clients. However, this needs to be done in a way that offers letting agents the confidence that their outsource partner will give the same level of service that they provide themselves.
No Letting Go invests in the latest property inventory management technology, Kaptur, specifically designed to save time and money by efficiently collecting, preparing, reporting, and managing inventory information in one user-friendly cloud-based system that can be accessed from anywhere. It also incorporates DigiSign to automate the tenant signing process, again saving time.
Our network of over 80 regional offices forms a national network of specialists who manage your inventory needs from end to end, meaning that a landlord’s investments are looked after by highlighting issues before they become an expensive problem. Outsourcing your property inventory management is a win-win solution.
No Letting Go
If you would like to discuss how our local support or national network at No Letting Go could become your property inventory partner, streamline your cost and reduce workload then contact No Letting Go today
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