As a landlord or tenant, it`s important to know how to vary a tenancy agreement. Life can be unpredictable, and sometimes circumstances change in a tenancy agreement that require amendments. Here are some tips for how to vary a tenancy agreement:
1. Communicate with the other party
Before making any changes to the tenancy agreement, it`s important to communicate with the other party involved. If you`re a landlord, talk with the tenants and explain your reasons for the change. If you`re a tenant, speak with your landlord and discuss your needs. By communicating openly and honestly, you can come to a solution that works for both parties.
2. Determine the type of change
Not all changes to a tenancy agreement are created equal. Some changes might be minor, such as changing the payment date or updating contact information. Other changes might be more significant, such as increasing the rent or extending the lease agreement. Identifying the type of change you need will help determine the proper procedure for making the amendment.
3. Review the original tenancy agreement
Before making any changes to the tenancy agreement, review the original document thoroughly. This will help you ensure that the changes you want to make are consistent with the terms of the original agreement. It will also help you identify any clauses that might be affected by the change, such as early termination or rent increases.
4. Draft a new agreement
Once you`ve determined the type of change you need and reviewed the original tenancy agreement, it`s time to draft a new agreement. This can be done by either party or by a legal professional, depending on the complexity of the change. The new agreement should include all changes in detail and be signed by both parties.
5. Follow proper legal procedure
Depending on the type of change, there may be legal procedures that need to be followed in order to vary the tenancy agreement. For example, increasing the rent may require notice to be given a certain number of days in advance. It`s important to research the laws in your area and follow proper legal procedure to avoid any complications down the line.
In conclusion, varying a tenancy agreement can be a complex process, but with proper communication and attention to detail, it can be done effectively. By reviewing the original agreement, identifying the type of change, drafting a new agreement, and following proper legal procedure, both landlords and tenants can make amendments that work for everyone involved.