Tenancy
When an individual or a family come before a landlord and requests to borrow or rent the house or property. The individual or family which is commonly referred to as tenants will then pay the landlord a certain amount on a certain period of time for the land they are borrowing or most commonly referred to as leasing. This tenant – landlord relation is called tenancy.
Tenancy is very common these days especially with the cost of having to purchase land. Many people rent rooms or apartments to stay in and pay the owners or landlords a substantial amount to prolong their stay in the location. These transactions may be done through credit or through cash. This will depend though on the agreement the tenant has made with their landlord.
Having a bad record with other landlords may prove to be a very big problem. Most landlords contact other landlords and provide them with a list of their problematic tenants. This goes on record and may make it hard for the tenant to lease the property they desire.