HAVE A TENANCY AGREEMENT

HAVE A TENANCY AGREEMENT

Before you collect the keys to that rented Apartment, office or shop, there is one document that will protect you: the Tenancy Agreement.

A Tenancy Agreement is a contract between a Landlord and Tenant when renting property for a period less than 3 years.

It sets out the terms and conditions of the tenancy so that both parties know their rights and duties from the beginning. Without a Tenancy Agreement, it is the Landlord’s word against the Tenant’s.

This agreement spells out the rent to be paid, how and when to pay it, the duration of the tenancy, responsibilities for repairs, rules about subletting, length of notice if either party wishes to end the tenancy, etc.

It also protects Tenants from arbitrary rent increases and Landlord from defaulting tenants.

The beauty of a Tenancy Agreement is that it balances the rights of both sides. For the landlord, it ensures steady income and legal ease if the tenant defaults.

For the tenant, it ensures peaceful occupation without fear of sudden eviction and structured maintenance.

Even in cases of disputes, courts rely on the Tenancy Agreement terms to decide fairly. Avoid it.

In modern times where demand for houses, offices and shops is high, many people rush into renting with only oral promises or receipts. That is a recipe for disaster.

So before you pay rent ensure there is a signed Tenancy Agreement.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com