A tenancy agreement is a legally binding document which gives the tenant the right to live in the rental property, and the landlord the right to receive rent.
A tenancy agreement will also set out the required deposit amount and how it’ll be protected – in England and Wales landlords are legally obliged to place tenants’ deposits in one of three government-approved deposit protection schemes (the Deposit Protection Service, My Deposits and the Tenancy Deposit Scheme).
It’s therefore important that the tenancy agreements landlords are issuing are up to date and legally compliant.
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