According to Ocean Finance, just 57% of people bother to read their tenancy agreements thoroughly when moving into a rental property, with 23% opting to skim read it instead.
One of the main issues tenants face if they do not read their contracts properly before signing, is that they could end up breaching it without even realising
Whilst some tenancy agreement rules are pretty obvious e.g. leaving the property in it’s original condition (with fair wear and tear) at the end of tenancy and giving the required notice before ending the tenancy, there are some less obvious rules that may be hidden away in some tenancy agreements. These include things like not being able to burn candles, not keeping pets and not using Blu-tack on the walls. Failure to notice these clauses in a tenancy agreement and abide to them could result in tenants losing all or part of their security deposit.
Tenants could easily avoid these issues and financial losses by simply taking the time to read and understand their tenancy agreement before signing. If they have any questions they should seek clarification from their landlord or if their property is managed by a letting agency, contact them instead.
The same goes for property inventory lists. If tenants notice that there is something missing from the property inventory list or the condition of something on the list is inaccurate, they should inform their property management company to make the necessary amendments.
Are you concerned about dealing with your tenants directly? Outsource property management to Altwood Properties and we’ll take care of them for you.