After we started providing our Roomz + room management services we realized that many landords need further explanation about the tenancy agreements between us and them. Of course we adjust the agreement in a way that it benefits all parties so we make sure to explain in details what the contracs consists of and what you need to pay close attention to.
However not every landlord or agent is as elaborate and transparent as our Roomz.asia team so we decided to introduce you to some basic things tenancy agreements. So first of all let us see what tenancy agreement really is. On the GOV.UK website it states very clearly that:
A tenancy agreement is a contract between you and a landlord. It lets you live in a property as long as you pay rent and follow the rules. It also sets out the legal terms and conditions of your tenancy. It can be written down or oral (ie a spoken agreement).
Tenancy agreement can be a fixed-term agreement (lasts for a certain period of time) and periodic (based on a weekly or monthly basis).
With the help of Housing.com we share with you the most important things to pay attention to in your tenancy agreements. Those are the tenancy period, the frequency and date of rent payments, the time of renewal of your lease and the provisions for repair and maintenance. All of those things should be clearly mentioned in the agreement. In addition to these, the roles and responsibilities of the tenant and the landlord should be defined. Housing.come quotes a Ekank Mehra, a Delhi-based lawyer who says
“It is advisable to take the property on rent, after all repairs and maintenance. One should also check the wiring and plumbing, before occupying the flat. This way, the tenant will safeguard himself from unnecessary expenses that may crop up in future.”
Furthermore, there are things that landlords should pay close attention to as well. It is important to sign the agreement, in presence of two known witnesses. Landlords can also ask for a copy of employment letter from the tenants’ employer to make sure tenants have a steady flow of income and thus are able to pay the rental fee.
Normally most lawyers who assist with the agreement already have a ready template. This doesn’t mean that you cannot change the terms and conditions. You can also tailor the agreement to suit your needs, with clauses that are mutually acceptable to the tenant and the landlord. If you wish to find out more specific details about the content within the tenancy agreements, we have provided you a link to download a tenancy agreement draft to ease your life and help you study all the clauses you will face as a landlord or a tenant.