If the tenancy agreement is set but one or both of the parties do not agree on certain provisions in the tenancy agreement, revisions are possible. In this scenario, both parties should be extremely careful that proper wording is included especially if both parties have no education on law whatsoever. Putting down simple thoughts and compromised policies may not transcribe to proper legal wording. There are however, straightforward alterations that both parties can change themselves. One example is the housing of pets in the property. Legally, it is advised that any alterations done in the agreement should be signed or initialed by both parties as proof that they both agree to the alterations before the actual policy takes place.
Since the possibility of disputes is always present your agreement must include a place to cover how any disputes will be handled. This way everyone has already agreed to how these disputes are to be taken care of and cannot argue the point and cause further problems for the rest of the members of the venture. This may end up being the most important area of your agreement and should be filled out very carefully to avoid any possibility of a legal challenge.