A property inventory is a detailed description of the condition and contents of a property. The schedule details the condition of these contents. The property inventory and the schedule of condition will be combined into one single report.
The property inventory report and schedule of conditions serve different functions:
- it is a detailed catalogue of the property being let
- it details the condition of the property and everything included in the property
- it forms part of the contract which is legally binding and set out in the tenancy between a Landlord and their tenant