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What is a Tenancy agreement?

A tenancy agreement, also known as a lease agreement or rental agreement, is a legally binding contract between a landlord (property owner) and a tenant (individual or entity) that outlines the terms and conditions of renting a residential or commercial property. The tenancy agreement helps to establish clear expectations, protect the interests of both parties, and promote a harmonious landlord-tenant relationship.

Tips

• Document Everything: Keep detailed records of all communications, agreements, and transactions with the tenant. Document the condition of the property before and after the tenancy to avoid disputes over security deposit deductions.
• Screen Tenants Carefully: Conduct thorough tenant screening, including background checks, credit checks, and rental history verification, to find reliable and responsible tenants.