Why are tenant associations formed?

Tenant associations are formed primarily to advocate for tenant rights and benefits. They serve as a collective voice for residents, allowing them to unite in addressing common concerns, negotiating with property management, and pushing for improvements in living conditions and policies that affect their rental experience. This organization enables tenants to share knowledge and resources, ensuring that their collective needs are recognized and addressed more effectively.

The other options reflect functions that are typically not associated with tenant associations. For example, overseeing property rental agreements and managing properties are responsibilities often held by landlords or property management companies rather than tenants themselves. Similarly, handling all financial transactions is usually the domain of property management, not the tenants. The focus of tenant associations is primarily on advocacy, empowerment, and improving the overall tenancy experience, which aligns perfectly with the correct choice.