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Tenants – Are You Ready To Commit To Your Tenancy Agreement

 
 
 
 
  02 May 2017

While buying a home is a big commitment, being a tenant and signing a tenancy agreement is also a major commitment and one that shouldn’t be rushed into. When you are provided with a tenancy agreement, make sure you read it in full and make sure you are happy with its contents before you sign it. You may find it is difficult to exit the agreement if issues arise that you ignored or overlooked so before you become a tenant, make sure you are ready to commit to your tenancy agreement.

There are a number of things that you should consider when signing a tenancy agreement.

The type and length of contract

There are many different types of contracts and it is important that you are happy with the contact you have and that it meets your needs. If you are a student, it is likely that you will have a contract that lasts for your academic year or 12 months. Other than that, the common agreements on offer are joint tenancy agreements, where the group is responsible for the home and the collective payments, or a contract between the landlord and each tenant. In this scenario, if someone leaves or an issue arises that is attributed to one person, only that person is held responsible but in a joint tenancy agreement, the actions of your housemates may be left to you to sort out, so make sure you are content with the agreement you have in place.

Always review the small print of a contract

You may be eager to move in but it is essential that you receive confirmation of important factors in your contract, including:

  • Start and end dates
  • That your name (and the name of any other tenant) is in the agreement
  • The landlord’s name and contact details are in the contract
  • What obligations (if any) you have regarding your tenancy
  • The rent amount, when it is due and who pays it
  • Review if there are conditions with respect to wear and tear
  • Review who is responsible for certain repairs

These are all important factors that will affect your life in the property so make sure that you are happy with what is on offer.

Make sure your deposit is protected

By law, your landlord must look after your deposit and this means they must place your deposit into a government backed scheme. Your landlord must take this action within 30 days of you providing the deposit and they must inform you of where the deposit is held.

Get an inventory list

One of the most important aspects of a tenancy agreement is the inventory list. This details what is found in the home at the point of moving in and it details the condition of these items. More and more people are using the services of an independent inventory control professional to draw up a list of the property and its condition at the time of moving in.

This can save a lot of hassle and disagreement in the future so if you are looking to reduce one of the main sources of tension and drama between a landlord and tenant, make sure the inventory list can be relied upon.

All of these aspects are important, but ultimately, you need to make sure that you are happy and committed to staying in the property. This means you need to be confident that you can pay your bills and that you are ready to take good care of the property. If you can meet all of these requirements, it may be that you are ready to let property.


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