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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.

The contract is signed as a legal formality and is a proof of the tenancy, in order to avoid any disputes between the parties after the property has been occupied. The tenancy agreement can be both oral and written. However, it is advised to have it written, since the oral agreement results in many arguments and clashes, as it cannot be verified. As a written document, the contract is more authentic as a proof of the consent. In case of problems, you can easily approach to the authorities with the agreement.

The contract for the tenancy should follow certain guidelines. It should be designed as per the rules imposed in a country. It will not be any good if it does not focus on all the legal formalities. Both parties are eligible for certain benefits, if they design the agreement as per the law of the country and are accountable as well in case of violation.

Each point of the tenancy contract should be clearly mentioned separately in points to avoid any misunderstanding in the future, which in the end will be signed by both parties, proving their consent. A third person, who acts as a guarantor should be present at the time of the agreement, since he will be responsible for making sure that every month’s rent is being paid as per the defined time line and due dates. The starting and ending date of the tenancy should be clearly mentioned in the contract as well.

The payment that the tenant has to submit to the owner, has to be stated in both words, as well as numbers next to the agreed due date for the payments. The owner of the property will then give a written testimonial about the security deposit that he has the right to keep till the tenure of the tenancy. Even the amount of the security deposit has to be in words as well as in numbers.

The way through which the owner will receive his monthly payment, should be clearly mentioned in the agreement. The owner can either agree to receive payments directly, by cheque or cash, or any other way upon which they agree. If the payment is to be done through a third person, it has to be mentioned too in order to have a documented proof of all details.

Other important details and points, such as the tenant being responsible for paying all utility bills on time, paying for the reconnection of any certain facility, if it is disconnected etc. are must to be mentioned in the agreement. The agreement will also contain the point stating the tenant’s duty to maintain the house in a good condition and not using it for any illegal purposes. Another point will be stated about the owner of the property to be responsible for paying all the refurbishment and repairing charges, the property’s insurance and the taxes.

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 expert and has written many books on this subject, to know more about leftbank apartments please visit his recommended websites

Every year numerous landlords suffer with financial crisis due to their poor effort in selection of any suitable or professional letting agents, agencies or the tenants. These landlords meet their disastrous end for checking the standing of an agent incorrectly or doing the preceding check for appointing any agency for their property matters. They avoid checking the details, which is a great flaw in their planning. In England and its peripheries, it has become a real tough job to pick any proper letting agency. Still, you can have some security only if you can follow certain set of rules in this regard.

Be realistic and do not consider every one as loyal to you. You must have your own checks about the property and the agents you are going to hire. They are not straight away going to hand you over the rent with out their own interest. Therefore, it is strongly advised to get the maximum knowledge about the agents or the agencies before handing over the keys of your property. You must formulate a counter check system and make sure you have a written legal contract, which should also be endorsed by the concerned authorities.

Some landlords do not give the task of appointing a letting agent any importance, through whom they can take care of their property matters. This negligence results in the suffering of numerous landlords in shape of bad tenants and inappropriate legal documentations. They cannot get their rents in time, and sometimes they are found liable for the fines.

The choice of a wrong agent is like a stinking heap that can engulf the whole stuff with its ever-growing bad affects. The success of the agent lies in his proficiency and efficiency of choosing the reliable tenants. If he fails to do so, you should not even think of the income for months.

Furthermore, you have always to invest upon your premises without getting any output. Sometimes tenants run away because of an unskilled agent and as a result, the agent too seeks another shelter. In this case, the landlord has an option of taking an action against the agent for the repairing of the damage, but for this, one needs to have a real contract.

You must put a lot of intent in picking a good agent or agency, in fact you should choose from the members of recognised industry body that assures you of quality services. You must have a look at their reputation in the field and ask them about their procedure of getting a tenant. For example, if they bring the tenants on their own, or they are inclined to get the services of any referring agencies.

It is strongly suggested that you must check that whether they know the location and the area of your land and if they have any previous experience in that exacting area. You must not settle upon any charges unless you see their schedule of service charges. Before going to them, check the charges of other concerned agencies of similar category dealing the same kind of cases.

If you are not acquiring the services of an agent, you must choose your tenants very carefully. While renting out your property to the tenants, you should ask them the precautionary questions about your future security. Make an estimate about their affordability. Try to check if they are self-employed, if the answer is affirmative, you must check their past record.