Inventory qualifications

Candidates are required to pass the four units listed below, they can be completed in any order. Once all four units have been passed, Propertymark Qualifications will provide certification for the full qualification.

Unit 1: Health and Safety, Security and General Law

Unit code: COM1 | England, Wales and Northern Ireland
Unit code: SCOM1 | Scotland

Understand the general concepts of law relevant to a property professional. It deals with the historical development of the law as well as current concepts, relevant statute and common law.

Learning outcomes:

1. Understand health and safety at work legislation and its relevance in and out of the workplace
2. Understand the issues around keeping safe when visiting property and maintaining a secure system when dealing with keys
3. Understand the general legal concepts relating to the provision of property services
4. Understand the common law duties of agents and agents’ authority
5. Understand the basic elements of the law of contract
6. Understand the basic elements of liability outside the law of contract
7. Understand the basic concepts of land law
8. Understand the basic concepts of discrimination
9. Understand the requirements of the data protection legislation
10. Understand the requirements of the legislation dealing with the handling of money

Unit 2: Legal Aspects of Letting and Management

Unit code: RLPM2 | England/Wales
Unit code: NILPM2 | Northern Ireland
Unit code: SRLPM2 | Scotland

Covers the law specific to the letting and management of residential property, including law and legislation regarding granting, administration, financial management and termination of various residential tenancies.

Learning outcomes:

1. Understand the common elements of agreements to occupy residential properties
2. Understand the requirements for regaining possession of let property and the protection available to the occupier
3. Understand the statutory regulations of landlords and agents
4. Understand the fitness standards for dwellings and the responsibility for repair
5. Understand the requirements for safety in let property
6. Understand the legislation relating to Houses in Multiple Occupation (HMOs)
7. Understand the legal requirements relating to tenancy deposits
8. Understand consumer and business protection legislation applicable to residential letting
9. Understand the key requirements of any transactional tax relating to residential property
10. Understand the main criteria relating to the regulation of insurance based activities

Unit 3: Residential Letting and Property Management

Unit code: RIMP3 | England/Wales
Unit code: SRIMP3 | Scotland

This unit examines the processes undertaken by the inventory provider from agreeing to their Terms of Business and cost through to undertaking the required services on behalf of their client.

It explains the scope and purpose of the inventory provider’s service from the inventory, check-in and periodic visit, through to the check-out. It considers how these reports are used by the parties and any instructing agent. It also covers government-authorised tenancy deposit protection schemes and their processes.

Learning outcomes:

1. Understand the elements of a letting agency’s Terms of Business and the agent’s authority to act
2. Understand the process for dealing with offers including the referencing of applicants and guarantors
3. Understand the key terms commonly found in tenancy agreements and appreciate what checks need to be undertaken and what documents should be in place before a tenancy agreement is executed 
4. Understand the procedures to be followed when allowing a tenant into occupation for the first time
5. Understand the letting agent’s client accounting procedures
6. Understand responsibilities surrounding the on-going management and maintenance of the property
7. Understand the processes involved in extending, renewing or terminating a tenancy agreement including breaches by either party

Unit 4: Residential Inventory Management and Practice

Unit code: RIMP4 | England/Wales
Unit code: SRIMP4 | Scotland

This unit covers the processes undertaken by an inventory provider, from agreeing to terms of business and cost, to undertaking required services on behalf of a client. The scope and purpose of the inventory provider's service is considered, from the inventory to check in, periodic visits and check out. 

Learning outcomes:

1. Understand the content and importance of terms and conditions of business
2. Understand the processes and reasons for inventory preparation
3. Understand the processes and procedures involved with the check-in
4. Understand the purpose and scope of periodic visits
5. Understand the purpose and scope of the check-out
6. Understand the post check-out procedure and deposit return process

The full assessment criteria and the knowledge, understanding and skills details for each learning outcome are available in the full qualification specification. 

Learners who want to develop their knowledge in other areas of property can progress onto other Level 3 qualifications such as:

• Level 3 (SCQF Level 6) Certificate in Property Agency (Lettings/Sales/Commercial)
• Level 3 Award in Residential Tenancy Deposit Protection and Management

Property agency management qualifications
Those advancing into management roles can also move onto the Level 4 Certificate in Property Agency Management, building the leadership skills essential for career growth.

More info