Essential Tenancy Agreements that a Landlord Should Have
Why there is a tenancy agreement is because it prevents future disputes. If there ever is any dispute about the rulings and regulations, then you have a written backup which both parties can refer to and use to settle matters. The tenancy agreement is the document that highlights the landlord’s obligations and duties towards the potential tenant, and the tenants’rights and duties towards the corresponding landlord. This document also states the time when the tenancy is set to start, the amount of rent and the duration of the tenancy.
The following are the main things that should most importantly be in the tenancy agreement:
First of all, the date of agreement should be included. This agreement should be dated any time after both parties take the time to sign the document. The date should be the same as the one on which the term and/or tenancy is scheduled to begin.
The property’s address is the second thing that should be mentioned and if there are any additional garages and/or parking spaces or driveways they should also be included.
If there is only an allocated room for the tenant, then the designated room should be specified in the tenancy agreement. This is because this individual unit is the only part of the property or rental space that will be in possession of the tenant.
The landlord should mention their current address along with any forwarding address in case they are planning to go out of the country.
Moreover, the term of the tenancy should also be indicated in the agreement. The duration of the tenancy should be stated specifically, so both parties could refer back to the tenancy agreement when needed. The term is normally either month-to-month or a year. Depending upon this one should make sure that the starting date and the ending date of the term are accurately disclosed, and known to both parties to avoid conflict.
The last thing, crucially, is the rent. This needs to be specified so that the tenant knows how much and for how long he/she is expected to pay.
This concludes the essential items needed to make a legally acceptable tenancy agreement which is State suitable.
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