For those who are looking into renting a property, the term “tenancy agreement” may come up. But what exactly does it mean?
A tenancy agreement is a legal document that outlines the terms and conditions of a rental agreement between a landlord and a tenant. It serves as a binding contract between both parties and provides a clear understanding of rights, responsibilities, and obligations.
The agreement typically includes information such as the names of the parties involved, the address of the property being rented, the length of the tenancy, the rent amount and payment schedule, and any rules or restrictions related to the use of the property.
Aside from these basics, a tenancy agreement can also include clauses related to maintenance and repairs, the return of security deposits, termination of the lease, and the landlord`s right of access to the property.
For tenants, understanding the terms of a tenancy agreement is important to ensure that they are aware of their responsibilities and rights as renters. It`s also important to note that any changes to the agreement must be made in writing and agreed upon by both parties.
In Romania, tenancy agreements are commonly referred to as “contract de inchiriere” and are regulated by the Civil Code. Landlords and tenants are both required to follow the guidelines set forth in the code, and failure to do so could result in legal action.
In summary, a tenancy agreement is a crucial component of the rental process and should be taken seriously by both landlords and tenants. It provides a clear outline of the expectations for both parties, helps prevent misunderstandings and disputes, and ultimately ensures a smooth rental experience for all involved.
