Tenancy Agreements and Deposits
Whether you are a landlord or a tenant, it makes good sense to have a solid tenancy agreement in place. Not only will this highlight your rights and responsibilities but it will also help maintain a positive relationship between you and your landlord or tenant.
A tenancy agreement is a contract between a tenant and a landlord. It should clearly explain what is expected of each party, providing everyone with the peace of mind that they know where they stand.
As well as asking a tenant to sign a tenancy agreement, landlords are also legally entitled to request a deposit before letting a property to a tenant. The deposit provides security to the landlord but should be returned to the tenant at the end of the lease, providing that the terms set out in the tenancy agreement have been met. Landlords are now legally required to place the deposit in one of three government-backed tenancy deposit schemes.
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