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Tenancy Agreement between Friends

When it comes to renting a property with friends, it`s important to have a clear and comprehensive tenancy agreement in place. This document outlines the terms and conditions of the tenancy, the responsibilities of each tenant, and what happens in the event of any disputes or issues.

Here are some key points to consider when drafting a tenancy agreement between friends:

1. Names and Details of Tenants

Include the full names and contact details of all tenants, as well as the address of the property being rented.

2. Rent and Utilities

Specify the amount of rent to be paid, the due date, and how it should be paid. Also, detail how utility bills will be split among tenants.

3. Security Deposit

Outline the amount of the security deposit required, how it will be held, and the conditions for its return at the end of the tenancy.

4. Maintenance and Repairs

Clearly state the responsibilities of each tenant for maintaining the property, as well as the process for reporting and resolving any issues or repairs needed.

5. Restrictions and Rules

Specify any restrictions on the use of the property, such as whether smoking or pets are allowed, and any rules that all tenants must follow.

6. Occupancy and Subletting

Include details on how many people are allowed to live in the property, and whether subletting is permitted.

7. Ending the Tenancy

Outline the notice period required for terminating the tenancy, as well as the conditions for ending it early.

8. Renewal

Detail the process for renewing the tenancy at the end of the initial rental period.

9. Disputes and Disagreements

Outline the process for resolving any disputes or disagreements that may arise during the tenancy.

10. Signatures

Ensure that all tenants sign and date the agreement, indicating their agreement to the terms and conditions.

By having a solid tenancy agreement in place, friends can rent a property with confidence, knowing that everyone`s rights, responsibilities, and commitments are clearly defined.

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