We find Inventories to be invaluable to us and the success of our tenancies. By clearly showing the status of the property prior to move in you are setting clear guide lines as to how the property should be when it is returned to you. Remember to particularly ensure that you take photographs of the defected areas. Taking 100s of photos of carpets and light switches will not be time well spent but photographing a small stain on the carpet prior to a tenant moving in is most useful. Your tenant then knows that you will not be blaming them for something that has previously occurred.
There are many formats of Inventory ranging from simple typed to videos. We use a Photographic system that works excellently for us. Our landlords are always delighted with the quality of our inventories.