The importance of keeping a complete, catalogued, inventory listing of all of the items (including appliances, equipment, furniture, soft furnishings, cutlery, and linens) at your home cannot be overstated. All items in all areas, such as garages, storage gazebos, and should be included. This is very important when requesting insurance coverage and having the necessary documentation should an insurance claim need to be made.
How our team can help you
For Blue Sky Luxury holiday rental properties, your property manager will count, inventory, and log all of the property’s effects and complete a thorough check of the quantity and condition of the items. Your property manager will be required to conduct spot checks after each guest departure and will notify you of any proven damages or losses. Any replacements needed at that time will be purchased. These replacements and any other additions that may occur during the year will then be on the annual inventory listing when retaken.
For homes that rent long-term, full inventories are always taken and updated in between tenancies. In both cases, your property manager will be responsible for checking the home after each departure so that the reconciliation of the security deposit can be completed, with wear and tear expected depending on the length of time the tenants resided there. Similarly, any replacements and additions will be captured on the updated listing for the next expected tenant.
When offering your home for holiday rental, it is important to know and provide adequate par levels for all glassware, cutlery, dinnerware, linen, and towels. For example, you want to ensure that the home has place settings, matching glassware, and cutlery for the advertised number of guests that can be accommodated at the property plus 50%. For example, for a 4-bedroom rental property that accommodates 8 guests, the catered capacity will be 12 people.
Similarly, when a property is offered for long-term rental, adequate rent levels, while different from the expectations of a holiday rental home, are also expected.
When the inventory listing is created, the location, make, and model of all appliances and equipment are noted. During this process, it is a great opportunity to create an asset register for these items. The asset register will have all of the above details and photos, plus the serial numbers. Information, where available, on the age and value of each will be recorded.
Many services are offered during the onboarding of new homes to Blue Sky Luxury; however, if you are interested in any of these services as a one-time, separate service, please contact us for a quote.
Written By: Peter Layne, Blue Sky Luxury Property Management Residential Team Leader
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