If you are leasing a dwell such as flat, house, room or you are in residential sharing, you may need tenancy agreement. It is an agreement that manage the rights and obligations between the landlord and tenant during the tenancy period. Other references to name this contract are Short Assured Tenancy, Residential Tenancy Agreement or Assured Shorthold Tenancy contract. Usually the period of tenancy will be fixed in the range of time. It will end on certain time as agreed or approved by landlord as the proprietor. Some others is periodic that means the end of tenancy is on periodic basis such as weekly or monthly.
When You Need a Tenancy Agreement
Some conditions below allow you to have agreement of tenancy in order any properties you own and both parties can understand the obligation and rights during the tenancy period.
• You are the owner of property who wish to let part of your properties to use by other parties such as friends, family or tenant
• You are a tenant who look for dwell or resident to live in such as home or room
• You are a tenant placement service owner or property manager who want to ensure that any contract between your clients are well undertaken
Points included in Tenancy Agreement
Creating the agreement of tenancy, it must outline some points as well the details as agreed by two parties. Basically, the points will consist of:
– The information of both parties’ contact
– Allowances that involve any matters that will be allowed to bring in the property such as pet, businesses or smoking
– Clear and detail of responsibilities that engaged both parties
– Details of financials such as amount or payment, due date, penalties and other expenses
The Importance of Tenancy Agreement
Written documents are always important when dealing any business no matter what even when it comes about renting and lending. In tenancy where someone rents his or her properties to another party, it is also essential because it lays out the obligations, responsibilities as well as the rights between two parties. Both sides agree and understand the terms and in the future can keep from conflict and misunderstanding. The agreement is created to protect the interests of both parties at the same time ensure that the property will be well maintained. The agreement is also the written evidence if any breach happens toward the agreement and any lawsuit must be filed. Clear points put in details will be able to be strong evidence during the court process. If you want to have a clear understanding about this agreement, you can download and read clauses written in this Tenancy Agreement Template below.