A tenancy agreement template is a legal contract between you and your property owner. Generally, this agreement outlines the rights and responsibilities of both parties regarding the use of property. A tenancy agreement template includes crucial information about homeowner or property owner and tenant, life of tenancy period, date of tenancy when the agreement will start, maturity date of agreement, description of property, rights as well as duties of both the parties, amount of rent, date of payment of rent, mode of payment, late payment charges, termination procedure and signatures of both the parties. Like other agreements, a tenancy agreement bears legal importance and must be drafted carefully. This is because it ensures that all terms and conditions have been stated clearly. Generally, it allows a tenant to live in a property as long as you pay rent as well as following the rules of the agreement. Importance of Tenancy Agreement A tenancy agreement is very crucial as it assures a homeowner of getting the regular rental amount, which is usually one year. It also makes sure the agreement remains intact throughout life. Moreover, it is possible as this agreement includes terms and conditions which both the parties have read