Tenancy agreements can favour both parties

Tenants and landlords have been advised to make sure there is a convenient tenancy agreement in place before a partnership begins.

While landlords and tenants will both want different things from a tenancy agreement, there is an acceptable medium to be reached.

According to The Times, tenants are likely to be focussing on the length of a contract.

The newspaper advises renters to make sure there is a "break clause" allowing them to move out quickly, particularly useful for anyone looking to buy or needing to move out quickly.

Meanwhile, landlords drawing up a DIY tenancy agreement can also install their own break clause in the event of deciding to sell the property.

The newspaper also advised landlords to sign up to a tenancy deposit protection scheme to ensure they are operating within the law.

Demand for rental property is likely to increase in the coming months if interest rates hold.

Ross Walker of The Royal Bank of Scotland claims that rising inflation and a weakening economy will keep rates steady.

This is likely to make mortgages less attractive, meaning many prospective buyers will choose to rent in unstable market conditions.


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Published on: July 8, 2008

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