Having a clear Inventory of which items you have in your vacation rental property is very important. You should have a copy of the inventory on your personal computer, a copy at your vacation rental, and a copy for your housekeeper.

A property inventory is vital for four reasons:

1) Proving theft. If a renter walks away with your hairdryer or DVD player, your housekeeper will notice.

2) Keeping track of what you have in your home. This may sound silly, but it's easy to forget (especially for owners of multiple properties) if you have a certain item (waffle iron, crockpot, The Goonies on DVD, etc.).

3) Providing an account for insurance purposes. If something were to happen to your vacation home, you'd need an account of everything in your vacation rental.

4) Easing the transition between housekeepers. If you're firing your housekeeper, it's a good idea to have a record of how many towels, sheet sets, etc. that you're supposed to have in your home to avoid mix-ups. The inventory will also help your new housekeeper more quickly familiarize themselves with your home and its contents.

Actually creating the property inventory may be a pain, but it will be well worth it in the long run.

Source: http://ownercommunity.homeaway.com