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To conduct a condition inspection report for a new tenant, it is crucial to complete the report before handing over the keys. This is important to document any existing damage and to ensure that the tenant is not held responsible for pre-existing issues. Failing to do this may hinder your ability to claim damages in court or through the tenancy tribunal, affecting the security deposit. It’s essential to accurately fill out the inspection report, which may vary depending on your province or state. In this case, the example provided is for British Columbia, where specific regulations and courts are in place for tenant-related issues.