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This is a Domestic Tenancy Agreement for the lease of residential property with options on rent-free period and early termination. The term is generally less than 3 years. This is drafted in favour of the Landlord.
Per this Agreement, the Landlord agrees to lease the Premises and the furniture, fixtures, fittings, and equipment therein (as per Schedule, if any) in clean and tenantable condition to the Tenant for residential purposes.
The above Premises is leased for a term of x months, commencing on a specified date. The Tenant and the Landlord of this Agreement shall have the right to terminate this Agreement after the first x months of the Term by giving to the other party of this Agreement two months’ written notice of its intention to do so. (The Tenant and the Landlord must complete above tenancy of first x months. Any advance termination before the fixed x months should be compensated by the Tenant and the Landlord to the total remaining sum of the rented to the Tenant and the Landlord.)
On the expiry of this Tenancy, the Landlord has the right to take back the Premises in full, and the Tenant must deliver vacant possession of the Premises on the date of expiry. If the Tenant wishes to extend the Tenancy, the Tenant shall have the priority to renew the Tenancy and is required to give written notice to the Landlord two months prior to the expiry of this Tenancy, the revised rental should be negotiated between the two parties. The Landlord has the right to lease to a third party if they cannot agree on rental or other terms one month prior to expiry.
Provided the Tenant shall have paid the Rent and other outgoings on the days and in the manner herein provided and observe and perform the terms and conditions herein contained and on the Tenant's part to be observed and performed, the Tenant shall peacefully hold and enjoy the Premises during the Term of Tenancy without any interruption by the Landlord.
The Document shall be carefully read by the Tenant and the Landlord.
This tenancy agreement format may be used upon the lease of residential premises / property by a Landlord to a Tenant, to outline the rent agreement.
Both parties should sign and return a copy, and once signed, both parties should get a copy.
To avoid any future disputes, both parties may wish to have their signatures witnessed.
The rent, term of the tenancy, deposit and other charges, and also the responsibilities of the Tenant and the Landlord should all be clearly stated in the agreement.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.