From 6 April 2007, the Government made it compulsory for those receiving tenancy deposits in England and Wales to join a scheme that safeguards deposits for the duration of a tenancy and offers resolution procedures should disputes rise.

HIP Midlands is a certified Inventory Provider licensed by the industry-run Licensed Inventory Provider Scheme (LIPS). The whole point of this robust regulatory framework is to give a high degree of confidence to the consumer.

The key stages of the Inventory Process are:

(a) An Ingoing Inventory at the start of the tenancy to record its general condition, together with fixtures and contents. Meter readings are taken.

(b) Where required to do so, attending the property with the new tenants at the start of the new tenancy, to make certain they agree with the findings in (a) Often referred to as "The Check-In".

(c) Attending the property at the end of the tenancy to provide a comparative report showing differences. This is often referred to as "The Outgoing Inventory".

(d) Where required to do so, an analysis of the differences between the two reports, making an assessment of damage attributable to 'Fair wear and tear'.

(e) Where required to do so, an Interim or Periodic Inspection, where landlords need to satisfy themselves that the property is being looked after properly in accordance with the tenancy agreement.