There are some reasons why people choose to rent space for living. Some of them often move from a place to place, so they don’t need to buy a house for temporal life, they want to be independent of the parents or others cannot afford to buy a home. Renting an apartment or home will be so much cheaper and effective, especially many landlords offer other facilities such as amenities and others. If you are a person who is running this business, the tenancy agreement template is perfect to start with.
We have tons of rental agreement template PDF, Excel, Word, Google Sheets and other formats. You are allowed to edit and customise it for free. It came with professional designs and made to suit your local law. If you find things that need to be revised, you can edit it. The templates we provide here are editable.
Why Is The Tenancy Agreement Important?
- To gather information – Every landlord must want a good tenant that will not cause a problem. A tenancy agreement is a perfect tool to dig information about the tenant. They will fill the form at the moment they are paying the deposit. By this way, you will get brief information about your tenants.
- Recording Transaction – If the payment is delayed, mishandled or forgotten, this agreement will be the practical solution to avoid possible conflicts. This is the best document to record the transaction.
- Admissible evidence – We don’t expect a discord will occur during the tenancy, but we need something to protect the landlord. This agreement can be the legal evidence that can be used to defence yourself from the court.
- Government Requirement – the Government, always require the people with rental properties to pay their taxes. By using the tenancy agreement and its payment receipts, you can pay the correct amount of taxes.
What Do You Need To Include In The Tenancy Agreement?
- Payment Date -One of the most crucial element is the payment date. Set the time when your tenants should pay the rent payment. The state is based on the renting agreement. If it is the monthly or annual renting types, then state it clearly. Furthermore, if you set the payment date, it means you need to report the period of the payment too. Specify it!
- The payment amount – The next step is the period of payment you have to state. State the amount of cash that has been agreed.
- Identification – The next is the identification of both parties. State the landlord’s name as the business owner, which this is also will be related to the deposit form. Besides, the tenant’s name, who has given the deposit payment, should be stated too. In the commercial rental agreement and the rental agreement for living, the payee name is a must to be written in detail. Include also the tenant’s reference general details to ease the landlord in tracking the tenant’s profiles.
- Property that is being rented – The next is addressing the property that is being rented.
- Signatures – Don’t forget to add the signature spaces as a validation.
Tenancy Agreement Template Sample