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In this episode of Phil Spencer's Move IQ, Katz outlines essential steps every tenant should take before signing a tenancy agreement. He advises against signing hastily, emphasizing the importance of checking several critical details in the legally binding document. Tenants should thoroughly read the small print and confirm the names of all parties involved, the rent amount and payment method, terms for rent reviews, the deposit amount and its protection, property address, tenancy start and end dates, responsibility for bills, and conditions for early termination. Additionally, tenants should clarify obligations regarding minor repairs, subletting, and pet policies before finalizing the agreement.