Here are a couple of tips from Inventory Hive for how letting agents can improve their deposit dispute process.
Deposit disputes are a frustrating aspect of the tenancy process for both tenants and agents. According to TDS, 1.5% of deposits end up in adjudication, and around 43% of deposits have some form of deduction - a relatively high figure. Add to this the time-consuming process of gathering evidence and submitting it for adjudication or deduction - it's no wonder it's considered one of the most frustrating aspects. So what can letting agents do to improve this process?
Encourage tenants to provide feedback on inventory reports
One of the most common mistakes an agent can make is to discourage tenants from providing feedback on their property reports. By allowing the tenant to provide feedback at the start of their tenancy, you can reduce the chances of a dispute at the end. As tenants can highlight issues in the initial inventory report that an inspector may have accidentally missed.
Inventory Hive has a very simple paperless feedback process where tenants have the ability to feedback on their inventory report at the start of the tenancy, digitally. Not only does this reduce printing costs for agents, allowing tenants to feedback digitally means they can add comments and photos to the inventory report at the start, very simply, without the need for them to come into the office. The result is a report where the original description, tenants' comments and evidence and the agents’ response (if required) are neatly displayed, giving a thoroughly transparent and robust report.
Avoid attended check-ins
Another mistake to avoid is doing attended check-ins. This puts pressure on the tenant to sign an inventory report without getting the chance to do thorough checks. The tenant is likely to be high on emotion as well, meaning that they are likely to just sign the Inventory in order to move on with the process.
As the days go by and the tenant has settled into their new home, they may become aware of a faulty washing machine or an issue with the shower pressure. However, as the tenant has signed the inventory report, it now becomes a problem for them to solve. Whereas, if the tenant was allowed to provide feedback through the Inventory Hive tenant feedback process, the tenant would be allowed 7 days (recommended) to move into the property, get settled in and have a good look around the property and test everything works such as ovens, showers, extractor fans etc before feeding back on their inventory report.
Raising maintenance issues at the start of the tenancy means they can be quickly fixed, meaning a dispute at the end of a tenancy is reduced. Also, allowing tenants to feedback at the start of the tenancy shows you have engaged with the tenant fully, meaning the relationship between agent and tenant is further enhanced.
Learn more about Inventory Hive and how their paperless tenant feedback process works by checking out their Kerfuffle page here. They are also kindly offering Kerfuffle members an exclusive deal. Check it out here.
