The business and demand
What’s it about?
The Inventory Management sector provides the residential lettings industry with detailed reports that describe the content and condition of properties to be used for when tenants move into and out of rented accommodation. The Inventory report is a comprehensive document laid out in a logical and easy to read manner and covers decoration, fixtures, fittings and any furnishings. This detailed report provides both Landlord and tenant with peace of mind that an accurate record of the condition of the property and content is in place at check in - and can subsequently be referred to at check out in order to determine any changes and responsibility for these changes.
Why is it such a secure business?
With established industry commentators claiming a national shortage of inventory analysts coupled with the new legislation which came into force on April 6 2007 the market is ripe for a high quality national network of Inventory Management businesses. Under the revised terms of the Housing Act 2004, all deposits taken by landlords for Assured Shorthold Tenancies (the most common form of tenancy in England and Wales) must be protected by a tenancy deposit protection scheme. These schemes aim to promote good practice in deposit handling so that when a tenant pays a deposit against a rented property, and is entitled to get it back, they can be assured that this will actually happen. This means that tenants and landlords are both strongly advised to have in place from the outset of any rental agreement, a clear, fair and consistent detailed inventory of the contents and condition of the property that is being rented. Having a professionally trained independent Inventory Management business undertake this role avoids the risk of biased or misinformed reporting and will ultimately benefit both landlord and tenant. Research has also shown that adjudicators from either the ‘TDS – Tenant Deposit scheme’ or the ‘DPS – Deposit protection scheme’ are far more likely to reject dispute cases where reports have been compiled by anyone other than an impartial and professional company.
With the UK property sales market having been hit so hard by the recession and subsequent lack of mortgage lending, the lettings industry is experiencing massive and sustained growth which has in turn boosted the need for additional Inventory management provision.
Why choose us?
The IMO brand was launched in 2004 and we began to offer our Reporting services to our private investment clients about 12 months later. Word spread on the quality of our reports and flexible approach to appointments and new clients came knocking on our door in the form of Letting agents, Housing Associations and private landlords. Always searching for new ways to better our service, in late 2005 we revolutionized our website and created online, secure accounts so that our clients could login to view all of their reports and associated digital images instead of having to find old emails or hard copy information. This new system cemented our existing relationships as well as giving as an enviable and unique selling point. Since then we have continued to bolt on complimentary new services such as professional cleaning and void management as well as online agreement forms (which are also unique to us).
Our document templates are widely recognized as the best in the business and our reputation for being friendly, efficient and reliable is rapidly spreading across London and the Home Counties. HAUS Asset Management offers a number of Property related services which are all cross complimentary and assist one another in creating new business leads and opportunities.
What are the benefits and what can I earn?
You will be able to run your business part or full time – even around another existing business. You will not need an office base and your earning potential is considerable. Analysts carrying out 5-10 appointments per week will typically earn between £25,000 - £50,000 per year. A very approximate length of appointment would be 1 hour so the pro-rata hourly rate is quite substantial.
The Inventory Management business is truly one that can fit in around your life rather than the reverse and requiring no formal qualification (beyond our training), suits a wide range of motivated professionals who want to earn a decent wage whilst retaining their quality of life.