Why is is so important to use an independent inventory clerk?

The inventory report is a crucial document, only the tenancy agreement is more important. This is the evidence that will be presented to the government approved deposit scheme in the case of any dispute or claim.  If the report is compiled by an independent company, and signed by all parties, it will be unbiased.

If the report is created by the landlord or letting agent, or even the tenant, it has to be declared that it is not impartial.

By using a dedicated inventory clerk, you can also take advantage of years of experience and training they will have accrued.

Another advantage is the time it takes to capture the data, take photographs, check the cleanliness, read the meters, test the alarms and put the report together in a clear, easy to read format ready for the tenant and landlord or agent to sign off. This is a huge saving in time for the instructing party.

Contact me to answer any questions you may have about property inventories.

Easing of Lockdown

The careful lifting of COVID restrictions and the roll out of routine testing and the vaccinations seem to be giving people hope, and I can sense a change in attitude.  We are still vigilant but more relaxed, not afraid to smile from a distance, but the hand gel is never far away.

Shortage of Rental Stock

As a knock on effect of COVID, people from cities are re-evaluating their working practices and realising that they do not have to physically be in the office five days a week.  The commute is not every day, so they can live further away from work.  Homes in rural areas are even more desirable, with less populated areas like Pembrokeshire looking very appealing.  Vendors are enjoying a buoyant market.

Landlords are facing ever tighter regulations and some are opting to take advantage of the rise in house prices and selling their rental properties.  Letting agents are crying out for stock, many in the area have run out of available properties.

Backlog of EPCs

Tenants are now happy for me to visit their homes to carry out EPCs, so I have been working through the backlog to get everything up to date.  I meet some lovely people who welcome me warmly into their homes.  Even the pets seem pleased to see me – cats, dogs, snakes… (she was a beauty!).

Wally

I managed to catch a glimpse of Wally, the Atlantic walrus who is spending some time in Tenby. From the distance I was standing, he could have been anything rolling around in the water… a seal, a dog… I got a couple of poor quality photographs, but when they were enlarged, Wally could clearly be identified by his tusks.

Looking Forward

I hope that a safe end is in sight to COVID restrictions and everyday life can return to a normal with which we all feel comfortable.  I also hope the housing market will find a balance, more stock will become available and people will be able to find the homes they want that suits their current situation.

A new year starts with another lockdown.  Looking on the bright side, it gives us more time to engage in online learning, so I am clocking up the Continuous Professional Development (CPD) hours.  I am obliged to complete at least 10 hours a year to satisfy my accreditation scheme, ecmk.  I have found them to be supportive and helpful. They audit my work and make sure my EPC reports are accurate.  CPD fills in gaps in my knowledge and reinforces what I have already learned.

I have also had the opportunity to look at the administration side of running a small business.  Tax and HMRC is a little less of a mystery now and I have a better understanding of what I have to do and when.

Demand has dropped off a little during lockdown, of course, but the jobs are still coming in and I am able to work safely in unoccupied properties.  Lockdown is also an ideal time to take advantage of my vacant property check service, especially as landlords or vendors may not be allowed to travel from outside Pembrokeshire to check on their properties.

All over social media were posts saying good riddance to 2020, it was an awful year, the worst ever, 2021 must be better.  Sorry to burst the bubble, but 2021 is not guaranteed to be any better just because last year was so bad.  But was it though?  More time spent with the children, a deeper appreciation for nature, those of us lucky enough to have gardens were able to take advantage of an amazing spring and summer.  It was a time to stop and reflect, to take stock and learn new norms.

I cannot forget the fact that I started my business in 2020, another reason to be thankful.  There have been challenges along the way, and difficult times will lie ahead, I am sure.  It is a question of learning from the negatives and enjoying the positives.

After what seemed like endless Zoom sessions and weeks of coursework, I am now qualified and accredited as a Domestic Energy Assessor (DEA). This means I can now carry out Energy Performance Certificates (EPCs) on existing domestic properties. New builds and commercial properties have their assessments carried out slightly differently.

My first report was audited by the accreditation scheme, standard practice for newly qualified assessors, and happily, it passed.

Every home needs an EPC to have been commissioned before it is marketed for sale or let, and that is where I come in. Find me on the assessors’ register, or contact me to book your EPC or to discuss your property.

I am now completely independent, having finished my previous job.  That was a big step, it is now do or die… well, maybe that is a bit dramatic, but you know what I mean.

The original plan of just doing inventories has gone.  After I got bored of eating snacks during lockdown, I started to look at online training.  I earned some certificates and had a rethink about my overall business model.

I am now able to look after empty properties between tenancies. I do weekly checks on empty properties, Legionella risk assessments, portable appliance testing and of course inventories, working with local letting agents and private landlords to make sure the dwelling is ready for a new tenancy.

My appointment book is filling up steadily. I have tested my systems and most worked well.  A few tweaks were needed, but nothing too drastic. I have found this to be a steep learning curve, I have never had control over my own diary nor produced an invoice.  These are all new experiences to me, and quite exciting.

The occasional quiet day gives me a chance to catch up on coursework. The training has not stopped, I hope to have a further announcement about that soon.

MB Inventories is now trading, open for business and taking bookings, covering the whole of Pembrokeshire for your empty property needs.

You can meet some extraordinary people on Twitter. I crossed paths with Chris from Property Plunge recently and he offered me a Q & A to post on his website. Take the time to read his story whilst you are on his website, he is a very interesting young man. Or look him up on Twitter @PropertyPlunge.

Today should have been the day I launched my business. Things haven’t exactly gone to plan, the world seems to have had other ideas.

Instead of pitching to agents, I’m using my time to upskill, I haven’t been able to talk to landlords, but I have been attending online versions of the courses that were cancelled a couple of months ago. I have experienced my first webinar, and several since!

I will have more to offer when restrictions are lifted. Now is the time to stay safe, not to look for loopholes in the government guidelines.  I will do all the learning I can from home during lockdown and be ready and eager to jump in the deep end at the lifting of the COVID-19 restrictions.

… at least for now.  Some elements will have changed forever, but mostly we will return to normal, maybe with a heightened sense of hygiene and a greater appreciation of those who are key workers.

Government advice about COVID-19 is updated every day, the rate of change has been rapid, and for good reason.  A lot of every day life is on hold for the foreseeable future with no definite end date in sight.  People are worried for themselves or for vulnerable loved ones.

The intended launch of MB Inventories in mid May is in doubt.  I’m not kidding myself.  A lot of the preparation prior to starting up has been disrupted and delayed.  Staffing levels of outside agencies have been impacted and gatherings of more than two people have been banned, so face to face meetings and training courses are all on hold for now.

Strangely, it is almost exciting having to rise to these new challenges.  No one knows for sure what the future will look like, how we will work, or what new measures will stay in place.

There is still a lot to do behind the scenes to get MB Inventories ready to trade, but I will hit the ground running when the time is right.

Stay safe.

The Penny Drops

Starting a brand new business from scratch was never going to be easy, I was under no illusion, but of course, I was not prepared for how much there was to do before even launching.
I was working part-time and had acquired a skill.  It slowly dawned on me that this new string to my bow could open an opportunity, a chance I had to grab.  I had a long, hard think, sought opinions from friends and family and made my decision. The first of many.
This is my first solo venture, and I’m finding it liberating.  I have to make choices, and I will make mistakes, but they are mine to make.  The buck stops here. No “Can I refer you to my manager?”, that is me.

Branding
I needed a name.  I would pick one, and try it out for a few days, roll it around, write it down and then discard it.  Do I want my location, my name, some identifier? I wanted to stay under the radar until I was almost ready to launch, so strangely, I needed a degree of anonymity.  I finally settled on an obscure reference to my daughter – MB. I am now MB Inventories.
With a name, I could buy a website name and set up an email account.
Then I considered logos and colours.  The colours had to mean something, I had to be able to explain my choices.  White (background) for clarity, grey (writing) for impartiality, blue for truth and purple for honesty.  I knew I wanted an image of a house surrounded by a protective ring and with my husband’s computer skills, was able to produce exactly what I had in mind.
The font was going to be slick, simple, clear, no serifs, no faff.
My public image is important.  I will wear a version of a uniform.  When I am face to face with clients, letting agents, landlords, or tenants, I will wear grey trousers and a smart white shirt.  On site, practicality suggests cargo trousers and a white polo shirt, grey fleece or coat, with the tops bearing the company logo.
Documents
Once I had a logo and corporate colours, I could start branding template documents, a website, social media pages and clothing.  I had template letters, invoices, a business plan, a selection of business card mock-ups and a head full of ideas.
I had to work out a pricing structure.  I looked at other inventory clerks nationally and locally.  Living and working in a rural county, there is a lot of travelling, incurring extra cost, but luckily I am central to the county.  I have kept my prices on the low end to begin, I can review them in the future.
The business plan was daunting.  I had never seen one, and the examples I downloaded were the equivalent to War and Peace!  I did not need funding, so this document was not intended to sell my idea to any investor. I finally found a basic template (thank you Pinterest) and was able to break it down into bite size pieces.
Social Media
I decided to focus on just a couple of social media platforms instead of trying to cover them all.  I have Facebook and Twitter pages and I am exploring LinkedIn. I post pictures, little fun bits and repost articles that I feel are relevant.
I will reach out to private landlords and tenants on Facebook, and connect with other businesses on Twitter.
Professional Help
It is very convenient having a retired business consultant in the family.  Cousin Ian is always on the end of an email, ready with advice and happy to point me in the right direction.
I happened across a free Business Drop-In Clinic locally.  I met Darren Thomas, a business adviser from Business Wales (a company I follow on social media) and Colin Evans, an associate from Business Doctors.
Darren signed me up to a day’s training course.  I showed him my progress so far, and I seem to be on the right course.
Colin focussed more on marketing and sales.  This is new territory for me and I will accept all the help I can get. I need to learn how to sell.  I mean, what on earth is an Elevator Pitch? Time for more research.
I came away from the clinic with a lot of advice, a to-do list, a date for a training course and a follow up appointment with Colin to monitor my progress so far.
Registering with Official Bodies
I have registered with the Information Commissioner’s Office (ICO) and paid the £40.00 fee.  I wanted to do this well ahead of my launch so not all the annual renewals will occur at the same time.
I have to consider insurance.  I will need Professional Indemnity and Public Liability, and possibly other cover.  I will put this in place just before I launch, I do not want to be paying monthly premiums without any income.  I have business class insurance on my car, so that box is already ticked.
Whilst I am still working part time for a letting agent, I cannot be accredited with Association of Independent Inventory Clerks (AIIC) because I am not considered independent, even though there will be no crossover.
Compliance
GDPR is a big new consideration.  It might be easier for me, I have to have everything in place before I start and not have to worry about changing practices that might have been in place for years.
Getting Ready for Launch
Time is getting close to announce a start date. I have decided on May 2020. Probably Monday 18th, but kick off on the social media pages over the weekend of the 16th and 17th.  How big do I want to go? Do I contact the local radio or newspapers to cover my launch? I’m all for free publicity, but mine is such a niche market it would not be prudent to spend much on general advertising.
Have a lot to learn before I start, and I will keep learning as I go.  I am hopeful, nervous and determined.

Most tenancies run smoothly, only the horror stories make the headlines. Landlords and agents have responsibilities to ensure properties are safe and fit homes, but tenants also have to keep their end of the bargain. This guide published by Rent Smart Wales answers a lot of questions that tenants may have.