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askguru expert
Hi there, thanks for writing to us on AskGuru.

A tenancy agreement protects both the landlords and tenants whereby there are terms and conditions that both parties must abide to during the rental period. This is to prevent any disputes from both parties.

A lease agreement consists of the following:
- Premises: Includes the date, name of parties and address of the property concerned
- Habendum: Meaning “to have and to hold”, indicates the commencement and duration of the lease term
- Reddendum: Rent clause in the lease. Includes rent amount, deposit, service charge, rent review
- Convenants: Expressed and implied covenants
- Conditions
- Warranty

When you sign a tenancy agreement, you have an interest in the property giving you exclusive possession for a fixed period of a certain duration, usually in consideration of a payment termed 'rent'.

The essential features of the tenancy are as follows:
- Tenant has exclusive possession of the property.
- Tenancy runs for a certain or fixed period of time.
- Landlord’s rights are subject to the tenancy.
- Landlord has reversionary interest of the property upon termination of the tenancy.

As your Tenancy Agreement ends in January 2021, you will have to fulfil your lease agreement. Otherwise, you will have to compensate the landlord for the unused lease term. The landlord also has a right to forfeit your security deposit.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

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