TENANCY AGREEMENT Meaning and
Definition
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A tenancy agreement, also referred to as a lease agreement or rental agreement, is a legally binding contract between a landlord and a tenant. It establishes the terms and conditions under which a property is rented out, outlining the rights and responsibilities of both parties involved.
The purpose of a tenancy agreement is to outline key aspects of the rental arrangement, including the duration of the tenancy, the rental amount, payment terms, security deposit, rules and regulations, maintenance responsibilities, and other important provisions. It serves as a written record to ensure that both the landlord and the tenant have a clear understanding of their obligations throughout the tenancy period.
The tenancy agreement typically covers various essential details such as the names and contact information of both parties, the property address, the term of the tenancy (whether it is a fixed-term or periodic tenancy), and the rent amount, payment frequency, and method. It may also include clauses related to late payment fees, utilities, termination notice requirements, pet policies, or any specific provisions agreed upon by the landlord and tenant.
This legally binding document not only protects the rights and interests of both parties but also helps to avoid misunderstandings or disputes during the tenancy term. It is advisable for both parties to thoroughly review and understand the terms of the tenancy agreement before signing it, seeking legal advice if necessary, to ensure a transparent and harmonious landlord-tenant relationship.
Common Misspellings for TENANCY AGREEMENT
- renancy agreement
- fenancy agreement
- genancy agreement
- yenancy agreement
- 6enancy agreement
- 5enancy agreement
- twnancy agreement
- tsnancy agreement
- tdnancy agreement
- trnancy agreement
- t4nancy agreement
- t3nancy agreement
- tebancy agreement
- temancy agreement
- tejancy agreement
- tehancy agreement
- tenzncy agreement
- tensncy agreement
- tenwncy agreement
- tenqncy agreement
Etymology of TENANCY AGREEMENT
The word "tenancy" comes from the Old French "tenance", which is derived from the Latin word "tenere", meaning "to hold". It relates to the concept of holding or occupying a property or land. The term "agreement" originates from the Latin word "agreementum", where "ad-" signifies "to" and "gratum" means "pleasing". Over time, it evolved to describe a mutual understanding or contract between parties. Therefore, the etymology of "tenancy agreement" refers to a contract or understanding regarding the holding or occupation of a property.
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