For example, a tenancy agreement sets rules such as the amount of rent and when the tenant has to pay it. If a tenant breaks these rules and the landlord has reason to be physical, the landlord may have the right to dislodge the tenant. The parties choose the above addresses as their physical addresses for the purpose of providing a notification, payment of any amount and legal action in connection with this property lease. Each party can change the information about its physical addresses at any time, by written notification to the other party. This amendment will come into effect on the 7th day after the other party receives the notification. Any notification that the landlord must send to the tenant is considered valid if it is sent by prepaid recommended letter to the tenant in the property or left by the landlord or his representative at that address, which is considered to be 5 days after the publication by recommended letter or on the day of sending the notification by telephone. Other applicable laws include Registered Land Law, Land Registration Law, Capital Gains Tax Act and rental law in different states in Nigeria. A rental agreement is an agreement between a landlord (the owner of the property) and the tenant (the person who acquires the property for rent) and who sets the terms of the contract such as rent, use of the property, agreements between the two parties, termination conditions, etc. Tenants may prefer temporary rent if they know exactly how long they must occupy a property. A rental agreement also specifies who is responsible for certain damages and repairs. If a tenant causes damage that goes beyond normal wear and tear, the landlord can use the deposit to cover the costs. In addition, the owner should ensure that his leased property remains in an acceptable state of life. A periodic lease, also known as automatic renewal, does not have a fixed deadline.
In this case, the lease is renewed each year or month until one of the parties terminates the lease. Use the Model for LawDepot`s Housing Leases to create a custom contract.