Essentials of Tenancy Agreements
Both parties in the tenancy business are protected by the so-called tenancy agreements agreed between the agent and the tenant. These written or oral contracts protect every right of an agent and a tenant. The property owner, for instance, has the right to be paid by the tenant for permitting his space to be accommodated by the tenant, and the tenant has the right to be given enough space he can stay in. The agreements will be legal if they conform to the law because both parties have responsibilities and rights imposed by law.
Tenancy agreements between the agent and the tenant should contain the following important details. First, the contract should contain the name of the tenant and of the agent, as well as the address of the property to be leased. It is important to include the date when the tenant begins to lease the property as well as its duration, if it will run on a specific date. The amount, date and mode of rental payment should also be included, along with every detail of what are being paid for, such as taxes, electric bills and other commodities. If the agent agrees to repair any damage that will occur during the tenancy period, it must also be written in the contract.