Propertymark L3 Residential Inventory Management key terms

A documented record of the condition, contents and cleanliness of a property at a point in time, usually prepared at the start of a tenancy and used later to assess change and dilapidations.

The process of handing a property to a tenant at the start of a tenancy, confirming the inventory, recording meter readings and issuing keys against signature.

A documented comparison of a property's condition and contents at the end of a tenancy against the original inventory, noting changes, damage, cleaning shortfalls and missing items.

A descriptive record, often photographic, of the state of a property and its fixtures at a stated date, used as a benchmark for judging later deterioration.

Reasonable deterioration of a property and its contents arising from normal everyday use and the passage of time, for which a tenant is not usually liable.

Loss or damage beyond fair wear and tear, or breaches of repairing and reinstatement obligations, for which a tenant may be liable at the end of a tenancy.

Improvement in the condition or value of an item beyond its state at the start of the tenancy; a tenant should not normally be charged for new-for-old replacement without allowance for age and use.

A sum withheld from a tenancy deposit to cover agreed or adjudicated tenant liabilities such as damage, cleaning or unpaid rent, supported by documentary evidence.

A government-approved scheme that safeguards a tenancy deposit and offers a free dispute resolution service when landlord and tenant cannot agree on deductions.

The statutory details a landlord or agent must give the tenant about how their deposit is protected, including the scheme, dispute process and relevant contact information.

The most common form of residential tenancy in England, giving the tenant a fixed or periodic term with limited security of tenure and specific statutory notice rules.

The contract between landlord and tenant setting out the term, rent, obligations and any restrictions, and the basis against which inventory and condition evidence is interpreted.

A landlord's statutory notice seeking possession of a property let under an assured shorthold tenancy, subject to strict validity conditions including deposit protection compliance.

A numbered record describing each key, fob or access device issued, the number held by each party and any replacement charges, signed by the recipient.

A recorded figure from gas, electricity or water meters taken at the start or end of a tenancy so utility bills can be apportioned fairly between parties.

Verification at the start of a tenancy that required alarms are fitted and working, with the result documented as part of the check-in evidence.

A pre-tenancy verification that every adult occupier has the legal right to reside in the UK, with copies of acceptable documents retained for the required period.

A certificate issued by a registered engineer confirming annual inspection and testing of gas appliances and flues in a let property, with a copy given to the tenant.

A document rating a property's energy efficiency from A to G, required before marketing a rental property and given to the tenant before the tenancy begins.

A property occupied by several unrelated households that meets statutory thresholds and must be licensed by the local authority, with additional management and safety duties.

Items permanently attached to the property, such as bathroom suites and kitchen units, together with items supplied for use, such as furniture and appliances, all recorded in the inventory.

A room-by-room written and photographic description of cleanliness, decoration and defects at a stated date, forming the evidential baseline for later comparison.

Dated images of rooms, defects and serial numbers taken to support written inventory entries, ideally time-stamped and cross-referenced to the report text.

A person appointed to inspect and report on property condition and works, often used in commercial property to verify compliance with lease obligations.

A legal agreement granting occupation of a property for a fixed term, setting out rent, repairing obligations, permitted use and reinstatement duties.

A payment by a leaseholder or tenant towards shared costs such as maintenance, insurance and management of common parts, usually subject to statutory consultation and accounting rules.

A contractual duty, commonly in a lease, specifying which party must keep particular parts of the property in repair and the standard to which that must be achieved.

The duty to return premises to their original layout or condition at the end of a lease, removing alterations and signage made during the term.

A recorded measurement of floor areas and room dimensions, often using the industry standard method, used to describe and market commercial premises accurately.

A written record of agreed points between parties, such as the condition standard or responsibilities at handover, used to reduce later disputes over evidence.

A documented opinion of likely sale or rental value based on comparable evidence and property condition, given to a client before instruction.

The formal agreement authorising an agent to advertise and act for a seller or landlord, setting out terms of business, fees and the basis of agency.

The written statement of an agent's services, fees, liability and complaint procedure, which must be given to clients and agreed before work begins.

The key facts about a property, such as tenure, council tax and known defects, that must be disclosed in marketing so buyers or tenants can make an informed decision.

The written marketing description of a property, including accommodation, dimensions and material information, which must be accurate and not misleading.

A situation where an agent's or individual's personal or financial interest could improperly influence their dealings, which must be identified and managed or declined.

A scheme safeguarding money held by an agent on behalf of clients, such as rents and deposits, so funds can be repaid if the business fails or misappropriates them.