Who needs Inventories, Check-In and Check-Out reports?
Landlords, Tenants and the Letting Agents who represent them. Usually the Letting Agent would arrange Inventory, Check-In/Out to be done on behalf of the Landlord.
Why people need Inventories?
At the start of each tenancy the Tenants give their Landlords a deposit against possible damage to property. When a tenancy comes to an end the deposit have to be returned to the Tenants. Sometimes there is disagreement between Tenants and Landlord if the deposit (all or only part of it) to be returned or kept by the Landlord to cover him for damages to the property.
In the past the Landlord kept the Tenant’s deposit for the time of the tenancy. The Housing Act made a provision that as of 6 April 2007 all deposits taken for Assured Shorthold Tenancies have to be registered with or held by a Tenancy Deposit Scheme.
At the end of the tenancy if the Landlord wishes to make deductions from the Tenant’s deposit he has to prove that the Tenants caused the damage and that the damage didn’t exist at the start of the tenancy. Adjudicators of the Scheme need written proof (check in reports, inventory, check out reports, receipts for furniture, cleaning, maintenance etc) before reaching a judgment.
In conclusion, nowadays a good quality, unbiased, independent report is vital for dispute resolution under the Tenancy Deposit Protection Scheme.
Are there many rental properties in the UK?
According to the English Housing Survey in 2009-10 there were 3.4 million households renting compared to only 2.4 million in 2005-06.
According to new Government figures almost 1 in 6 homes is now a private rental property and the expectations are that these figures will grow to 1 in 5 households by 2015.
If most properties are already tenanted can I expect sufficient number of instructions?
Yes. On average every 16 months Tenants change their rented property. Every time a new tenancy starts the Lettings Agents need: Inventory-make, Check-In of new tenants, Mid-term inspection at 6- or 10-months into the tenancy and a Check-Out when the tenants decide to move out.
How many regular clients I'll be able to find?
We can’t answer this question. You have to do your own research.
It depends on the area where you live, the number of agents in your area, the number of lettings they do and how proactive you are.
You should search for clients located no further than an hour away from you. You can check on the Letting Agents’ websites how many properties to let they have. And last but not least – you have to be prepared to win your share of the market. It is up to you to develop your business to the level you want or need.
Do I need any special qualifications to become an Inventory Clerk?
Currently no formal qualifications or previous experience are required to become an Inventory Clerk. Still you will be expected to have the standard of skills and knowledge expected of a person in the profession. And this is why you need our training package.
Do I need to rent an office?
No, you can easily run the business from home as most Inventory Clerks do.
What about the recession? I thought the housing market is in crisis.
You should not confuse the property sales market with the lettings market. There was more than 30% increase in new tenant applications during 2010. Surveys show that a whole new generation is choosing to rent long term, and the average age of a first-time buyer has risen to 37. The tenant demand currently outweighs the supply in most areas of the UK as a growing number of people relying on the private rented sector to provide their housing needs.
How soon can I start?
It depends how much time you can put into studying and preparations each day and how proactive you are promoting your new business.
Our Training and Business package has been compiled in a way that you can be up and running in a week. But still it is you who has to learn the study material in the Training Guide, to watch the DVD, to read the Business Guide and to spend some time choosing a name, setting prices, building a website.
What is the difference between your Training package and a franchise?
To purchase our training package you only need £395 and there are no ongoing costs.
To purchase an Inventory Clerk franchise you will need between £10,000 and £15,000 plus there are some ongoing fees (you pay continuing management fees, plus percentage of the sales, plus marketing and advertising fees.)
The rest of your start-up costs are the same (PC, mobile phone, printer etc.). In both cases you get training and support as well as information how to set-up, how to run and how to market your business.
One of the huge disadvantages of an Inventory Clerk franchise is that you will be restricted to a territory and you won’t be able to look for extra clients in a neighboring area.
What about marketing and advertising costs? These can be pretty high.
In our Business Guide we look at suitable marketing tools for the Inventory Clerk’s business. And the best ones are free!
We’ll also give you a tutorial DVD “How to make an Inventory Clerk website” so you won’t have to pay a web designer.
What if I have questions?
Simply send us an email and our team of experienced Inventory clerks will be happy to reply.
How do I order my Inventory Clerk Training & Business Guide?
Simply press the blue button BUY from the main menu. You can pay by debit or credit card and we’ll send you package within 48 hours.