A tenancy agreement is a legal contract between the tenant and the landlord. A properly structured tenancy agreement can help reduce problems with your tenant and protect you in the event of a problem. With TransUnion SmartMove, you can increase your chances of identifying financially and personally responsible tenants. Owners receive a rental credit report, a penalty report, an eviction report, an income Insights report and a residentScore to help them make a well-informed rental decision – long or short term. Because of the short-term duration of a rental agreement, they allow much more flexibility in rent increases. Technically, the rent can be revised each month with a rental agreement in order to remain in compliance with the current fair market rent, provided that the rent increases are in accordance with local law and the termination rules that govern the monthly rent. As a general rule, most leases are in progress for a period of 12 months with a 6-month break option, we will contact you at the end of the lease to find out if you want to renew your contract for a new period and contact the owner to arrange the documents. It is important that you keep in mind that the agreement is reached between the landlord and the tenant, we only act for the landlord. TransUnion collected rental results from millions of people and identified important data that suggest the most negative results. ResidentScore was designed to review rental results based on this data. It is proven to predict a 15% better risk of evacuation than generic values. Due to the high demand for rents, it is a great time to be a landowner or landlord.
Whether you choose a lease or a lease, it is essential that you know who your tenant is. A thorough review of your tenants can give you the confidence that you are putting the right person in your apartment to rent. In your rental agreement, indicate how to use the down payment. In many cases, homeowners will use the deposit to repair damage or to cover unusual or unexpected cleaning costs. You should also explain how the down payment cannot be used, for example against rent. Make sure this section complies with your legal obligations. Also explain your expectations and limitations for house changes: paint, permanent hanging, nails in the walls, etc. If you allow changes, then clarify with your tenant all procedures that must take place before the moving date: Fill all nail holes, paint the walls colored white, etc. A rental agreement is ideal for a tenant who cannot commit to a 12-month rental period. It can open the door to many qualified tenants looking for short-term rent that can be in high demand near university campuses or large hospitals.
Please note that all funds payable when signing the contract before occupancy must be paid in cash or by banker`s project, unless they are paid at least seven working days before the occupation.
