Complete Guide to Understanding a Tenancy Contract

Congratulations! You finally discovered the property of your dreams. But hold on! Before officially claiming your new digs, there's a crucial step: understanding the Tenancy Contract. This document is also known as the lease or rental agreement, and can be thought of more simply as the guidelines for living in the dwelling that is being rented out. It covers the terms and conditions between you and your landlord on what you are allowed or are supposed to do or not do. This blog is an essential source to break down the essential components in a way that's clear and concise. Let's have a look:

Party People: Who Is Who In The Tenancy Contract?

• The Tenant: That's you! The person who gets to live in this incredible place or call it their home sweet home.
• The Landlord: It involves the owner of the property who is expecting you to be responsible for its upkeep and maintenance.

The Basics: What Does a Tenancy Contract Include?

Of course, the specifics of what is in a tenancy contract can change with each contract, but things like the following are fairly common. Here's a breakdown of the essentials:

• The Property: This part discusses the basics of your new home – the street and number, the type of housing: an apartment, a house, and so on, and, perhaps, even the number of the specific apartment.
• The Rent: That is the big one folks! The contract details will indicate the amount of rent due each month, the date, by which it must be paid and the forms of payment accepted. Are utilities included? Is there any fee to have the due date payment delayed? Read this section carefully!
• The Term: This informs you about the period that the tenancy agreement is valid. Depending on the parties’ agreement, it can be a term tenancy which means for a certain period or periodic tenancy; by periods shorter than a year.
• Security Deposit: This is an amount of money that is tendered at the beginning to act as security to the landlord. It’s as if you pay a certain amount to your landlord, as security, which you receive back when you leave (less any deposits for damage to the premises), assuming that you complied with the agreement made between you and your landlord.

• Responsibilities that a tenant has are as follows: In this section of the Tenancy Contract guide, information concerning some of the rights that you are expected to hold when living as a resident is highlighted. It might include aspects like cleaning the property and paying for things like water and electricity, making sure that noise levels are not high in the community, and seeking permission if, for instance, one wants to paint the space among others.  When renting is the topic of discussion, one should also know the tips to on how to rent in Dubai at a low cost. Give this blog a read.
• Landlord's Responsibilities: Under this section, you will find what your landlord is obliged to do. Consider repairs, pest inspection, and making sure the property is habitable.
• Termination Clause: This states how the contract of tenancy can be terminated by any of the parties involved. It may state how much advance notice is required and if there are any charges for early cancellation.
• Dispute Resolution: This section of the Tenancy Contract explains possible action in case of a dispute between the tenant and the landlord. Is there a mediation process in having the plan implemented?
• Pro Tip: Ask Questions! Fear of failure can be a powerful motive to start something just to avoid ending up with nothing at all, or that fear of loneliness can push a man into almost any enterprise, no matter how dangerous or feasible this may be. The following is a LEGAL agreement and you should feel free to ask your landlord to explain anything about the agreement that you do not understand. Are there some issues regarding the clause you have some difficulties with? Does something seem unfair? Speak up! Having things clarified up to the signing moment is harmless while being in a state of confusion or disagreement.

Bonus Round: Moving Beyond the Basics

However, other Tenancy Contracts might have other clauses: The above forms the core issues of the contract. Be on the lookout for these:

• Pet Policy: Is it pet friendly and if yes, does it permit furry friends? Are there any adopted pet restrictions and or any fees associated with the pet?
• Subletting: Can you let someone else live in the apartment for example by subletting the apartment? This generally requires the landlord’s consent however some property owners allow residents.
• Parking: Where can one park one’s car or bicycle? Is there any parking charge?
• Guest Policy: Are there restrictions on the number of people that you are allowed to host over to your house?

Congratulations! You Are Now a Tenancy Contract Master!

If you educate yourself on the crucial elements of a tenancy contract and don’t hesitate to question unforeseen points, you are on a sure path to avoiding many frustrations in the rental process. Here are some final tips to solidify your tenancy contract mastery:

• Read It Twice (or Thrice): Reading through a contract is not as simple as flipping through a newspaper. Do not rush, take your time to read each clause in the document, and ensure that you understand what the document is all about before signing it.
• Keep a Copy: After signing make sure that you have some copies of the tenancy contract and keep them in a safe place. This is important in case there is any dispute in the future that will arise out of the issue of share of structures.
• Be a Responsible Tenant: This means honoring the terms of the agreement, maintaining clear lines of communication with the landlord, and reaching for the highest level of responsibility for the new home.

Go Forth and Conquer Your Apartment Hunt!

As you now know, the Tenancy Contract is a comprehensive legal document that will help you secure your dream home comfortably. For this, you can also take the help of some of the best real estate agents mentioned in this blog to help you find the perfect place for rent and can help you through these legal documentations. Happy renting!