An Inventory only sets out the condition of the property and the items within the property. A Property Inspection Report also sets out meter readings, alarm testing, and appliance testing.
You can use an inventory and a Property Inspection Report together. Where an inventory was completed when the tenant moved in, and this original inventory will be updated with the condition of the property on move-out, the updated inventory should be attached to the Property Inspection Report. This allows all check-out information to be located in the same place.
Where the original inventory isn’t being updated, this Property Inspection Report will include a check-out inventory which should be completed and compared to the original inventory (if one exists).