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A Tenancy Agreement can be defined as an agreement or a treaty between two parties i.e. the tenant and the landlord. It is a contract, which allows the tenants to occupy the property or a house, and authorises the landlords to receive rent for letting their property.

This contract is a proof of the tenancy and is a legal step, which is required by any two parties agreeing upon a mutual decision. Although the tenancy contract can be oral as well as written, it is very much preferred and advised to have the tenancy contract in a written format, in order to avoid any undesirable arguments and fights. The written tenancy contract can act as an evidence of all the mutually agreed points by both parties and can be presented to the law if required.

Since, this document is very vital, it should be designed as per certain rules. Most importantly, any tenancy contract must follow a specific country’s law and cover legal formalities. This enables to give advantages to both parties and makes sure as well that they are following all requirements.

It is very important that the agreement have a clear mention of all the details point wise with the signature of the tenant as well as the owner. The presence of a person providing guarantee, that is a third person, is very vital. He has to assure that all payments and dues are dealt with as per the tenancy agreement. The duration of the tenancy, with starting and ending dates, should be mentioned in the contract.

The agreed rental amount should be clearly mentioned in the agreement, which will be paid by the tenant along with the due date for each month. A written declaration by the owner should be mentioned in the tenancy agreement stating the agreed amount of the deposit, both in words and numbers, which will be kept by him until the time the tenant resides there.

A Tenancy Agreement must comprise of the method of rental payment by the tenant i.e. whether the tenant is supposed to pay rent directly to the landlord, through his agent, by postal order, or should it be in cash form or cheque. All these details should be mentioned clearly and vividly in the written record.

The tenancy contract will also comprise of minute details such as the responsibility of the tenant to pay off all the bills of the facilities he uses, such as electricity, water, gas, along with the fees of reconnection of any facility (if required), television license fee and others. It should be clearly mentioned in the contract that the tenant is bound to take care of the house and only use it for residential purpose. On the other hand, it should also mention the duty of the owner to pay for all the maintenance and repairs, pay the taxes as well the details of the insurance of the property.

The tenancy contract proves to be a record of all mutual agreements decided by both parties, and hence, they are bound to abide by it in order to avoid any disputes.

James Harrison is a real estate consultant and has written many books on this subject, to know more about leftbank apartments please visit his recommended websites