A tenancy agreement is a contract between a landlord and a tenant which stipulates the terms and conditions of the rental agreement. The agreement details the rights and responsibilities that the landlord and tenant have to each other, and the responsibilities they have to the property.
A tenancy agreement can be in writing or simply an oral agreement. It is preferable to have a written tenancy agreement in place, as this can be referred back to at a later date should a dispute occur over responsibilities.>
A tenancy agreement should include the following information which must be given to the tenant within thirty days of paying their deposit.
Once the tenancy agreement is written up both parties should take their time to read it carefully before signing. A copy should be given to each party to retain.
Tenancy agreements once signed are legally binding and can be upheld by the courts. It is important that all tenancy agreements comply with statutory law. Any laws which are passed in parliament after the contract has been signed are still legally binding even if they are not specifically detailed within the agreement.