A tenancy agreement is an agreement between a landlord, the owner of a rental property, and a tenant, the person who is renting the property. Under the agreement the tenant is given possession and use of the property and the landlord is paid rent. The tenancy agreement lays down the terms and conditions of the tenancy that both parties need to abide by. It is signed in the presence of witnesses and becomes a legally binding document, a contract. The tenancy agreement also outlines the responsibilities of the landlord and tenant, as well as the landlord’s and tenant’s rights. » Read more..