Finding a good tenant is as important as finding a good house. In case you plan to let your property out on rent, it is essential to draft a proper tenancy agreement. A well-drafted tenancy agreement leaves little chance of dispute between the parties. Care needs to be taken by both the parties while drafting the tenancy agreement. A lease agreement should cover the rights and obligations of both the lessor and lessee.

The lessor can either be the owner of the property or may have a power of attorney (POA) to lease out the property from the owner. The lease agreement may be signed by the owner of the house or his duly authorised POA holder. There are some basics that need to be included in a lease agreement.

These include:

– Names and addresses of lessor and lessee

– Details of the property leased out

– Effective…