Inventories and deposits
Detailed Inventory/Schedule of Condition
At the beginning of the tenancy, we will create a detailed inventory of the condition of the property and its contents describing the general condition of the décor and fittings and produce a descriptive document with digital images. The tenants are required to sign this document within the first couple of days of occupation. This signed document will then form the basis of the final check after the tenants have vacated.
After the final inspection, a report will be produced to detail any differences between the inventory signed at the start of the tenancy and the condition when the tenants vacate. The landlord is then invited to visit the property and/or to make comment on the items in the report with a view to agreeing action, after fair wear and tear is taken into account.
Deposits
Before a tenant is given keys to their new home, they must pay one month’s rent in advance and a deposit equal to one and a half month’s rent. In all cases, including Let Only arrangements, this deposit will be held by Cox & Company for the duration of the tenancy and used to pay for any repairs if unfair wear and tear is discovered at the end of the tenancy. The deposit monies will be protected by a client money protection scheme and subject to independent arbitration in accordance with guidelines set by the National Approved Lettings Scheme and The Dispute Service.
Periodic Property Visits (managed basis only)
During the tenancy, Cox & Company will advise tenants in advance and visit the property periodically to confirm that the property is being looked after in accordance with the terms of the tenancy agreement. A report is produced and sent to both landlord and tenant advising of the general condition of the property (this is a general report and cannot be considered as a survey of the property). The report is designed to help tenants appreciate how they should be looking after the property. Similary, landlords can use the reports to judge the general condition of their property and plan for projects such as treating window frames and decoration.