A tenancy agreement is a legal document setting out the terms of occupancy of a property owned by another person in exchange for the payment of rent. These agreements are essential to protect the rights of both parties, and set down the terms and conditions of occupancy which have been agreed upon prior to being signed.http://www.focuspropertymanagement.com.au/

1. The Benefits of Signing a Tenancy Agreement
There are many rules and regulations in our society, and multitudes of documents used to keep track of
all the various transactions that occur between people, either singly or in groups. While we often
bemoan the necessity for many of them, most of the time they have been developed in response to a
situation that needed some clarity or control. Tenancy agreements are a prime example, and while it is
possible for a landlord to rent a property to a tenant without a tenancy agreement, if the arrangement
turns ugly there is no firm proof of its original intent.
Wise property owners nowadays appoint an agent to look after their rental property, because of the
difficulty of finding good tenants and the work involved in keeping the properties maintained. They
normally use a property management Sydney agency, and every agency recommends the use of a
tenancy agreements and executes these for their property investor clients.
A tenancy agreement is a legal document completed and signed by both the landlord or agent, and the
tenant, setting out the terms of occupancy of the landlord’s property by the tenant, in exchange for
rent. There are two types of these agreements. A fixed term agreement as the name suggests, sets out a
specific time period for the beginning and end of the arrangement. The periodic agreement allows
occupancy for an indefinite period.
In New South Wales, there are forty mandatory conditions in a standard tenancy agreement with the
option of two more regarding pets and break fees. These should be deleted before signing if both
parties don’t require them. The parties can add other terms provided the agreement hasn’t been signed,
and as long as they don’t conflict with the tenancy or other laws, or the standard terms of the
agreement.
There are a number of terms that cannot be added to a tenancy agreement. The parties should check
these before proceeding, as the inclusion of these terms can void the agreement and attracts penalties.
The landlord or agent must give the tenant a copy of the agreement at the time of signing, and if
occupancy exceeds three years, it must be registered with the Land and Property Management
Authority.
New tenancy laws began on 31 January 2011 with some key differences between the old and new. A
tenant can no longer be charged an agreement preparation fee. Agreements of twenty years or more
have more flexibility to omit or change terms than previously possible, and some terms are specifically
prohibited from inclusion in the tenancy agreement. Anyone confused about these new provisions
should speak to a Sydney property management agency.
Tenancy agreements are in place to protect the interests of both the tenant and the landlord. They allow
some flexibility, but once they are signed all parties must abide by the terms.
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