Tenant

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Tenant holds right to use property by agreement with the property owner

Tenants are people who pay a rent in return for the use of land, buildings or other property owned by some other person in accordance with a rental agreement or lease. The tenant is also known as lessee of rental property. The occupant or inhabitant can rent on that property for a certain period of time as mentioned in the lease. The property can be used or occupied till the tenant complies with the terms and conditions of the rental agreement.

Tenant holds the right to use a piece of land or a structure by agreement with the property owner. The tenant can use the property as per the terms and conditions mentioned in the tenancy agreement during the duration of tenancy. Both landlords or tenants can terminate the tenancy agreement at any time with reasonable notice. The property can be leased for residential purposes, businesses, farming and other purposes. The property can be evicted in case of non-payment of rent, while the owners can levy a late fees for late rent payments.

Under the usual contracts, tenants pay rent to the owners, or reach another agreement which is a work-exchange or profit sharing contract. Rents can be paid by the tenants at any any number of intervals, depending on the terms of the agreement. The property owner ensures that the property is habitable, while the tenant is expected to maintain the premises in good order. The tenant should perform maintenance tasks like; cleaning gutters. The tenancy agreement accounts for normal wear and tear on paint, carpeting, and other fixtures.