It outlines the rights and obligations of a tenant and landlord throughout a residential tenancy.
A Residential Tenancy Agreement is a contract between a landlord (the property owner) and a tenant (the person renting the property). It sets out the terms and conditions of the rental arrangement — including the rent amount, use of the property, rights and responsibilities of both parties, and conditions for ending the tenancy.
Although this document is similar to a Residential Lease Agreement, there’s a key difference:
- A Residential Tenancy Agreement usually covers short-term rentals (three years or less).
- A Residential Lease Agreement is used for long-term rentals (typically more than three years).
Types of Tenancy under Nigerian Law
1. Periodic Tenancy
This tenancy has a start date but no fixed end date. It continues until either party ends it by giving a written notice. Common types include weekly, monthly, quarterly, or yearly tenancies.
- A weekly tenant pays rent every week.
- A monthly tenant pays rent monthly.
- A quarterly tenant pays rent every three months.
- A yearly tenant pays rent annually.
To end the tenancy:
- The landlord must issue a Notice to Quit and a 7-day Owner's Intention to Recover Possession.
- The tenant must issue a Notice of Termination of Tenancy to the landlord.
2. Fixed-Term Tenancy
This tenancy lasts for a specific period agreed upon by both parties. When the agreed term expires, the tenant must vacate the property unless the tenancy is renewed. The landlord is not required to issue a Notice to Quit once the term ends (except when ending the tenancy early). The landlord only needs to give a 7-day Owner's Intention to Recover Possession at the end of the tenancy.
Using This Document
This agreement is used when renting a residential property for a term less than three years. It includes the following key sections:
- Parties' Details: Names and addresses of the landlord and tenant.
- Property Details: Description of the property, including location and size.
- Rent: The amount payable by the tenant. Fixed-term tenants usually pay once for the full term, while periodic tenants pay rent at regular intervals.
- Fixtures and Fittings: Items provided with the property, such as furniture, appliances, or fittings.
- Covenants: Promises made by both parties. Landlord's covenants include paying ground rent, ensuring peaceful enjoyment, and providing a habitable property. Tenant's covenants include paying rent on time, keeping the property in good condition, and using it responsibly.
- Termination: Conditions and notice periods for ending the tenancy by either party.
Once completed, both the landlord and tenant should sign the agreement. Each party should hold counterparts of the agreement for their records. After rent payment, the landlord should issue a Rent Receipt as proof of payment.
From Template to Completed Document
You can easily fill out a form to generate the agreement. Once completed, you can edit and download the draft or proceed to sign it via our E-signature tool with your record securely stored on DocuProp for future management.
