© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
In April 2007, the Tenant Deposit Scheme (TDS) will come into effect in England and Wales, overseeing deposits equating to an amount worth £1.2 billion. The TDS will provide protection to both tenants and landlords entering into assured short hold tenancy agreements by offering an independent and regulated means of dispute resolution.
An area that remains peripheral to any discussions is that of the need for accurate and detailed documentation of a property and its contents. Dispute resolution will be based on evidence, so an independent inventory will be a prerequisite for a referral to the Alternative Dispute Resolution (ADR) scheme. The re-distribution of deposit monies and the resolution of disputes must be largely based on pre prepared inventories.
The process of preparing an inventory is to accurately document the state of fixtures, fittings and the internal condition of a property prior to the commencement of a tenancy. This is a professional service and only by providing proper training to the industry can TDS standards be maintained.
The number of trained inventory clerks in the UK is still only in the low hundreds. When the TDS comes into force, the rental sector is expected to experience a shock of demand for independent inventories, with a shortage of clerks.
It is clear that whilst heralding the arrival of the TDS, the property sector needs to raise awareness of the lack of inventory clerks and promote the employment and training of staff to meet the new requirement.