Must Know Facts About Tenancy Agreement

Contract Laws on Tenancy Agreements

As a subset of U.S. contract law, a tenancy agreement can be expected to comprise the document through which the legal relationship between a landlord and his or her tenant is established. As with other kinds of contracts, tenancy agreements typically pertain to the conditions agreed to and entered into on the part of both of the signatory and named parties to the contract.

More specifically, a tenancy agreement entered into on the part of both parties in the U.S. or another comparable and similarly-functioning legal jurisdiction and system can and should be expected to answer the questions “who?,” “what?,” “when?,” and “how much?”.

Tenancy Agreements as Forms of Leases

A tenancy agreement could be considered a kind of lease, and indeed it will often be referred to with this term. In the U.S. and other legal systems considered to come under the overall heading of so-called “civil law,” a tenancy agreement, or any other form of lease alternately entered into by a property owner and prospective property user, must include the specified and necessary element of rent payable on the part of the contracting individual to the property owner.

Tenancy agreements can be understood as potentially differing from other kinds of leases, as might be alternately entered into, in terms of being for expressly residential purposes. As such, the parties signing a tenancy agreement will typically be landlord and tenant. A tenancy agreement might also variously come in such forms as fixed, periodic and indefinite leases.

NEXT: Option Contracts Explained