All right. Welcome to the fourth section of the course. After creating a budget, identifying your needs and preferences, searching for a place, and impressing the landlord at a viewing, you succeeded at finding a rental property! So what’s next? Now it’s time to sign an actual rental agreement, or tenancy agreement, with the landlord.
A tenancy agreement is a legally binding contract. It provides the terms of a rental property for both the tenant and landlord. Up until this point, you have simply been looking for a place. But now, you are about to take a step that commits you to legal rights and responsibilities.
We will discuss different types of tenancy agreements, what should be included in your agreement, and key terms to pay attention to. These are all important details to understand before you sign your agreement.