It’s not uncommon to hear some unbelievable rental horror stories from your friends and family sometimes.
These stories do happen in Penrose at sims drive – and they happen more than you can ever imagine! Just head over to the online forums, and you’ll see all kinds of nasty encounters.
Moral of the story – get your tenancy agreement right.
Whether you’re a tenant or landlord, knowing what to include in the tenancy agreement is vital to protect yourself against tenancy disputes.
Want to know how to protect yourself from such precarious situations? Read on.
What Is Tenancy Agreement?
A tenancy agreement is a legally binding contract that spells out the terms and conditions that the landlord and tenant have mutually agreed upon.This agreement plays a pivotal role in regulating the lease of a property as they define the rights and duties of the landlord and tenant.Simply put, this agreement safeguards the interests of each party against legal matters that arise in the event of a tenancy dispute.As with any legally binding contract, there are substantive and procedural aspects of a tenancy agreement.The first part of this article will outline the substantive aspect of a tenancy agreement, stating the must-have clauses in a tenancy agreement and explaining these clauses in plain English.The second part of this article will outline the procedural aspect of a tenancy agreement, such as registration and matters surrounding stamping of a lease agreement.In short, this section tells you how to get your tenancy agreement legally recognised – after all, what is a well-drafted contract without legal effect?