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It is very important to set the terms and conditions between the tenant and landlord even before taking up a tenancy. Although a tenancy agreement could be in an oral or written form, it is advisable to have a written agreement since it is easier to prove the terms in a written agreement rather than an oral agreement. Also, make sure to prepare the tenancy agreement with the help of a professional, since drafting an agreement with loopholes cannot serve any purpose. Nowadays, you can even download free tenancy agreements from the internet.

There is also websites that provide shorthold tenancy agreements which are suitable for short term renting of a property. The formal name for the document is an Assured Shorthold Tenancy (AST). An AST Agreement is a contract entered into between landlord and tenant on a short term basis. With an AST, the landlord can acquire possession of the property without difficulty if he follows the correct measures.

There are several important clauses of a typical tenancy agreement: parties involved, period of tenancy, rent payable, payment of tax, deposit, services, terminating a tenancy, and also ancillary. A good tenancy agreement would safeguard the interests of the parties involved in tenancy as it provides a clear understanding of the roles and responsibilities of the parties involved.. It helps to resolve the conflicts amicably and save hundreds of pounds you may have to spend towards legal proceedings when a dispute arises. So if you are a landlord, you should keep in mind that a tenancy agreement is one of the main keys to your survival as a landlord.