Residential Lease

Prospective tenants typically need to complete a Tenancy Application Form after finding a rental property so that landlords or real estate agencies can check their credit history and references. Landlords or their representatives are required to provide a tenant with a formal tenancy agreement before the tenant moves in or the tenancy begins after the application for rental housing has been approved. After everyone has signed the lease, a copy should be delivered to the tenant because it outlines everyone’s rights and responsibilities.

Tenancy contracts come in two varieties:

* a fixed-term lease that lasts for a set amount of time
* Tenancy that is periodically renewed on a weekly or monthly basis

The first leasing arrangement is typically for six months, however it can be extended. There are two aspects to tenancy agreements:
1. The agreement’s terms are: The fundamental contract outlining the terms of the tenancy between the tenant and landlord.
2. Inventory condition report: gives an inventory of the property and describes the state of the property at the time the tenant moves in.

The address of the property, the monthly rent, the mode of payment, and the start and end dates of the lease are all included in the agreement’s provisions.

Both parts of the condition report should be read and understood by all parties in case there is a disagreement regarding the state of the premises at the conclusion of the tenancy.