Tenancy agreement is a contract which specifies all the terms of renting property to the tenant by landlord. People often fall prey to rumors and myths surrounding the tenancy agreement, spread by letting agents. Find out the six myths regarding tenancy agreements which will help you tell right from wrong in this infographic.
1. Tenancy agreement is mandatory to rent out property
Landlord decides about going with tenancy agreement or not.
2.Tenancy agreement should be renewed before its expiry
Only a rumor to extract renewal fees. Not required.
3. Agreement must be valid for 6 months at least
This was only true until February 1997, but no longer holds now.
4. Agreements are drafted by Letting agents
You can purchase or download a template and fill it, making sure it is drafted as per law.
5. Agreement should be filled by qualified professionals only
You can design your own contract or download it for free online. Take professional guidance if necessary.
6. Any clause can be included in tenancy agreement
You should not add any clauses which contradict the housing act provisions.