What is addressed in a residential tenancy agreement?
A residential tenancy agreement typically addresses the following: • the type of property being let; • the address of the property being let; • the term of the tenancy and whether the tenancy is fixed or periodic; • the amount of rent payable, how often and when the rent should be paid; and • the provisions of any security/damage deposit. In addition, a residential tenancy agreement may also identify the following: • taxes that are payable by the tenant; • landlord improvements and signing incentives; • tenant improvements and signing incentives; • landlord and tenant repairing obligations; • who will pay for what utilities; • whether the tenant can assign or sublet the property; • notice provisions for termination of the tenancy; and • insurance provisions.
