What is the Residential Tenancy Agreement?
It is a standard contract between the property owner and the person who wants to rent this property for a certain period of time. This document includes all important issues that the parties have agreed on before signing. Both the tenant and the landlord must read the contract carefully before signing. When the document is signed, nothing can be changed or updated.
What is the Purpose of the Residential Tenancy Agreement?
If the tenant and the landlord wish the contract to be legal and official, the Residential Tenancy Agreement must be signed. It confirms all points negotiated by the parties and determines the term for which the property will be occupied. Everything indicated in the contract must comply with the law, otherwise the agreement won’t be valid.
When is the Residential Tenancy Agreement Due?
The agreement does not have a fixed due date. Every separate case may have different time limit. The parties decide on the term the property will be rented by the tenant and provide this information in the contract. When the agreement expires, the parties may renew it.
Is the Residential Tenancy Agreement Accompanied by Other Documents?
The agreement is very often accompanied by the copy of the document that confirms that the landlord is a direct owner of the rental property. Sometimes testimonials of the parties mat be required.
What Information do I Include in the Residential Tenancy Agreement?
The document itself is not complicated, yet it requires some time to correctly complete it. Get ready to provide the following information in the document: landlord and tenant names, address for services of notices, agent’s and renter’s telephone numbers. The form must include the description of the premises: its location, type, facilities, etc. Indicate also the rental term. Payment method must be mentioned and such payment details as account number, account name, payment reference and others.
Where do I Send the Residential Tenancy Agreement after Completing?
The agent must provide the copies of the agreement to the tenant and the landlord.