Posts Tagged ‘Tenancy Agreement UK’
Tenancy agreement is most important document which proves the relationship between landlord and tenant. It also contains the rules, regulations, rights, responsibility, terms and conditions of both parties. As per the landlord tenant act, tenant can do anything with the property. It is important to make some restrictions which can stop tenant to damage the property willingly or unwillingly. It is mandatory for landlord and tenant to read carefully the agreement.
Following are important points that should be there in tenancy agreement:
Description of property – It mainly includes the address of the property. But this clause plays important role when landlord rent out the furnished property. In such case, you are required to mention everything in this clause.
Rent – Tenancy agreement should specify the payment and due date of rent. Bother terms should be written after taking the permission of landlord and tenant.
Penalty of late payment – Generally, this clause depends upon the relation of landlord and tenant. But it is important too; if you don’t want to share any personal relation with tenant, then decide the penalty or interest before starting the tenancy period.
Privacy policy – it includes the number of people or pet are allowed in the rented property. Better to decide such important clause initially.
The term, tenancy agreement stands as an effective set of rights and responsibilities of the tenant and landlord. The terms are usually considered under the series of the law. Landlord should understand that the law act allow the tenant to make use of the property the way they like to. It is therefore important to listed prohibited activities that are must mention into the tenancy agreement.
However, European Union Directive restricted the scope to act on unfair terms in Consumer Contract Regulation. Therefore, if there is any specific term that is not covered under the standard tenancy agreement you need to seek legal advice or can refer to the “Guidance on Unfair Terms in Tenancy Agreements”.
The tenancy agreement is prepared on the basis of description of the property, payment of rent, interest on arrears, council tax, water charges utility, repair and decoration, alterations, use, insurance, assignment, subletting, addresses for service and rent increases. Read the rest of this entry »
