A Draft Tenancy Agreement is a document between a landlord and tenant that outlines the terms of the rental arrangement. It is important for both parties to understand the expectations of the tenancy so there are no misunderstandings down the line. The Agreement should include details on the length of the tenancy, the amount of rent to be paid, any special clauses or conditions such as pet policies and who is responsible for repairs or maintenance. This document is essential in protecting both parties and establishing an understanding of their respective rights and responsibilities. Once both parties have agreed to the terms and signed the Agreement, it becomes a binding contract.