TENANCY AGREEMENT by Anthony O. Anyakora

TENANCY AGREEMENT by Anthony O. Anyakora

“When people are divided, the only solution is agreement”   - John Hume

A tenancy agreement is a written document binding landlords and tenants on their contractual obligations towards one another. This document is signed by the tenant and the landlord or his duly appointed agent before they become bound by the terms once the agreement is signed.

The purpose of a tenancy agreement is to provide both the landlord and the tenant adequate future security or protection. It would serve as a reference point in the event of a dispute.

It is important to note that the terms and conditions of the tenancy agreement need to be within the ambit of the law. If a term in the tenancy agreement is against the statutory rights of either the landlord or tenant, that term cannot be enforced.

The tenancy agreement should be in writing and duly signed by the landlord, tenant and their witnesses.

Difference between tenancy agreement  and lease agreement

A lease is a long-term contract whereas rent is a short-term contract.

A tenancy agreement is between the landlord and tenant while a lease agreement is between the lessor and the lessee.

The following are some of the most important features of a tenancy agreement;

•Details of all parties to the contract

•Description of the property

•Duration of tenancy

•Rent and deposits

•Termination

•Tenant and landlord obligations

DETAILS OF ALL PARTIES TO THE CONTRACT: A tenancy agreement must identify the parties to the contract. The name and address of the landlord and tenant must be clearly stated on the agreement.

DESCRIPTION OF THE PROPERTY: Details of the property being rented should be well stated. For example, if the tenant is renting a 4bedroom semi-detached or a 4bedroom detach house; it must be clearly stated. The agreement must be clear and free from any form of ambiguity.

DURATION OF TENANCY: Basically, every tenancy agreement  should state the terms of the tenancy. Here, one can accurately determine whether the term is fixed or subject to renewal of the when the fixed term has expired.

RENT AND PROFITS: This includes all payments received by the landlord such as rent, caution deposit, service charge etc. The instances in which caution deposits can be fully or partly withheld should be enumerated.

TERMINATION: The tenancy agreement should state the conditions for ending the tenancy early by either of the parties; how much notice needs to be given and the cost implications if any. It is advisable that both landlord and tenant operate by the statutory provisions or to what both parties have consented to.

TENANT AND LANDLORD OBLIGATIONS: This clearly states what is expected from both parties during the tenancy. It outlines the landlord’s responsibilities to the tenant as well as the tenant’s responsibilities to the landlord. There is  provision  also for rules and regulations as may be stipulated by the landlord. For instance, issues of whether pets are allowed or not, visitor’s restriction, maintenance of the property etc.

It is important to note that all terms included in the tenancy agreement must be fair and in accordance with the law.

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