Before letting a tenant to occupy your property, it is quite important to sign a proper tenancy agreement, as it sets out the limitations of tenants' rights as well as their obligations. Apart from limitations and obligations, terms, payments, rent amounts, deposits, payment methods, rights, notices, guarantor clauses, signature and witnesses are included in a tenancy agreement. Let us find out the details of this agreement.
In addition, other terms like payment schedule, rent, deposits, payment methods, rights, notices, guarantor clauses, signature and witnesses make an essential part of a tenancy agreement. Following is a detailed analysis of a tenancy agreement and the way to handle this issue.
A tenancy agreement requires the physical presence of the tenant and the landlord to oversee the drafting of the agreement. In some cases, a guarantor might also come into this picture. He or she will offer a guarantee on the behalf of the tenant. The guarantee is generally related to a timely payment of rent.
The tenancy agreement mentions the duration of the agreement, the total amount of rent and monthly instalments, among others. These things are mentioned in the Rent Amount & Payments section; the mode of payment is usually specified by the landlord.
There are also other clauses in a tenancy agreement related to the payment of utility bills, installation of cable TV and its charges, and the current physical condition of the property. Similarly, the agreement also restricts any construction or alteration on the rental property. Additionally, there is a provision that a third party can pay the rent on the tenant's behalf. He or she, however, will not be eligible to claim a place in the rental property as only the tenant has the legal right to do that.
Tenancy agreements also state that a tenant is legally bound to pay the bills from his own money. If he is unable to pay the bills on time, the utility company might sever the connection. In that case, he will have to pay the reconnection fee. The municipal taxes levied on property, including council tax, are to be paid by the tenant.
Apart from the above-mentioned obligations, there are many other obligations and limitations which are often imposed on the tenant through a tenancy agreement, and it is expected that the tenant will abide by all the included clauses in this agreement.
Many restrictions are imposed on the tenants with a legal obligation that he will follow them wholeheartedly. Clauses can be discussed with the landlord, in case they seem like hard to follow, before signing the document. The ultimate power, however, lies with the landlord. A tenant can refuse to sign the agreement if the landlord remains adamant on certain clauses even after discussion. Overall, tenancy agreement provides equal opportunity for both the parties.
In addition, other terms like payment schedule, rent, deposits, payment methods, rights, notices, guarantor clauses, signature and witnesses make an essential part of a tenancy agreement. Following is a detailed analysis of a tenancy agreement and the way to handle this issue.
A tenancy agreement requires the physical presence of the tenant and the landlord to oversee the drafting of the agreement. In some cases, a guarantor might also come into this picture. He or she will offer a guarantee on the behalf of the tenant. The guarantee is generally related to a timely payment of rent.
The tenancy agreement mentions the duration of the agreement, the total amount of rent and monthly instalments, among others. These things are mentioned in the Rent Amount & Payments section; the mode of payment is usually specified by the landlord.
There are also other clauses in a tenancy agreement related to the payment of utility bills, installation of cable TV and its charges, and the current physical condition of the property. Similarly, the agreement also restricts any construction or alteration on the rental property. Additionally, there is a provision that a third party can pay the rent on the tenant's behalf. He or she, however, will not be eligible to claim a place in the rental property as only the tenant has the legal right to do that.
Tenancy agreements also state that a tenant is legally bound to pay the bills from his own money. If he is unable to pay the bills on time, the utility company might sever the connection. In that case, he will have to pay the reconnection fee. The municipal taxes levied on property, including council tax, are to be paid by the tenant.
Apart from the above-mentioned obligations, there are many other obligations and limitations which are often imposed on the tenant through a tenancy agreement, and it is expected that the tenant will abide by all the included clauses in this agreement.
Many restrictions are imposed on the tenants with a legal obligation that he will follow them wholeheartedly. Clauses can be discussed with the landlord, in case they seem like hard to follow, before signing the document. The ultimate power, however, lies with the landlord. A tenant can refuse to sign the agreement if the landlord remains adamant on certain clauses even after discussion. Overall, tenancy agreement provides equal opportunity for both the parties.
About the Author:
James L Harrison is a real estate expert. You can find rental homes and apartments to rent manchester at his recommended site http://www.mancitylettings.co.uk
