When a property is rented out, a tenancy agreement is agreed upon by the landlord and the tenant. This agreement gives certain rights to the tenant as well as the landlord for the use of the property. It is generally a detailed document and needs to be prepared according to the local laws and rules of rental properties. To make sure the document is prepared according to the right standards, a property management Bunbury company can be consulted to guide both the tenant and the landlord for better management of the property.
The tenancy agreement has to be prepared with utmost care to make sure that it is not in conflict with what is being stipulated by law. The tenancy agreement gives more than just the statutory rights to both the landlord and the tenant. In case the statutory rights in the tenancy agreement are less than they ought to be, the terms of contract cannot be enforced.
There can be two types of tenancy agreements; express terms and implied terms. Express terms include the clauses in the written tenancy agreement, if any, the clauses in the rent book, and/or whatever was agreed upon by both the landlord and the tenant. Implied terms include the specific rights that are given by law.
The presence of a tenancy agreement brings with it a lot of advantages.
=> It provides protection and security to the investment of the landlord
=> It defines the relationship between the landlord and the tenant
=> It provides as a cover for any potential liability
The typical contents of a tenancy agreement includes the rental amount, the deposit amount, if any, the landlord’s access to the property rights and the rights of the tenants on the use of the property. There can either be periodic or fixed term agreements.
A tenancy agreement provides protection of rights to both the landlord and the tenant. It is a document that is prepared with the consent of both parties, but the payment for preparing the document is only made by the landlord. The property managers can be of great assistance and can readily provide sound recommendations in this regard in order to ensure that all the necessary documentations are done according to what is being stipulated by your local rules and laws.
Ray White Bunbury http://www.propertymanagementbunbury.com.au/ provides all services related to property management Bunbury with the help of an expert team of property managers Bunbury.