Agreement or Tenancy: What`s Right for You?
When it comes to renting a property, there are two main options – an agreement or a tenancy. While both options may seem similar at first glance, they have a few key differences that can affect your rights and responsibilities as a tenant.
An Agreement
An agreement is a legal document that outlines the terms and conditions of your tenancy. It is usually used for short-term rentals, such as holiday homes or vacation rentals, and does not provide the tenant with the same level of protection as a tenancy.
With an agreement, the landlord can set the terms of the tenancy and change them as they see fit. You will also have less security of tenure, as the landlord can choose not to renew the agreement after it expires.
However, an agreement can be a good option if you only need a short-term rental and want the flexibility to move on when you need to.
A Tenancy
A tenancy, on the other hand, is a more long-term rental agreement that provides the tenant with greater security of tenure. A tenancy is usually offered for a period of six months or more, and the terms of the agreement are set out in a tenancy agreement.
With a tenancy, the landlord cannot change the terms of the agreement without your agreement, and they must follow a strict set of rules when it comes to ending the tenancy. This means that you will have greater stability and security in your home, which is especially important if you have children or pets.
However, a tenancy can come with more restrictions than an agreement. For example, you may be required to pay a deposit or provide references, and you will have to give notice before you move out.
Which Option is Right for You?
Deciding between an agreement or tenancy will depend on your individual circumstances. If you only need a short-term rental and want the flexibility to move on when you need to, an agreement may be the best option for you. However, if you are looking for a more long-term home with greater stability and security, a tenancy may be the better option.
It`s important to carefully read any agreement or tenancy agreement before you sign it, and to make sure you understand the terms and conditions of your tenancy. If you have any questions or concerns, always seek legal advice before signing.
