A tenancy agreement is an essential document which outlines obligations and limitations for the relationship between a tenant and landlord. Such an agreement will be signed by all parties, the tenant, the landlord and optionally a guarantor for payment of rent.
The term of the agreement must be clearly stated along with the amount and frequency of rent payments, deposit and method of payments prefered and accepted. Other details covered include: the tenant’s obligations; the landlord’s Obligations; the deposit provision (eg: tenant deposit, custodial or insurance based scheme); provision of notice (Section 48 of the Landlord and Tenant Act 1984); guarantor clause, signatures and witnesses.
Additional content may include a full inventory of fixtures and fittings, detailed obligations and limitations of rights.