Tenancy Agreement is a contract between landlord and tenant whereby it stipulates the contractual obligations between both parties. It sets out the expectations between both parties by setting out clearly the rights and duties under the agreement for the rental of the said property.
In a tenancy, the interest in land is transferred from the Landlord to the Tenant whereby the tenant has the right to occupy the land exclusively for a term certain at an agreed rent. The tenant can also assign the right to occupy the land to a third-party, if permissible under agreement.
In a breach of tenancy agreement, either parties can either claim damages or specific performance as specified in the tenancy agreement agreed. It is therefore important for one to be sure that their interests is being protected in the event of a dispute such as early termination of tenancy and or evicting/being evicted.
Licenses on the other hand differs significantly to that of a lease as interest in the land is not transferred to the Licensee. A license is only a personal arrangement between the landlord also known as the licensor and the tenant also known as the licensee whereby the licensor gives the licensee permission to use the premises for a period of time and not to exclusively occupy it.
Our firm provides the following services;
- Drafting and Advising on Tenancy Agreements
- Drafting and Advising on Licenses
- Tenancy Disputes
* Kindly note that the above information does not constitute legal advice, it is information for your reference which you rely at your own risk. Kindly seek legal advice from a qualified lawyer before commencing any legal action.