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A Tenancy at Will is a type of rental agreement that can be terminated at any time by either the tenant or the landlord. A Tenancy At Will agreement should be terminated with appropriate notice, which is usually considered to be at least one month. The agreement could also be canceled at any time if the owner loses their property due to foreclosure or repossession. This type of agreement is desirable to tenants and owners who wish to have flexibility in their arrangements.
This differs slightly from a periodic tenancy, that takes place after a long-term lease has ended when the parties do not enter into a new lease. This type of agreement will allow a tenant to continue to stay in the rental property for an unspecified period of time as long as the rent continues to be paid.
John and Jane Doe are building their dream home. They are not sure when construction will be complete and they need someplace to live in the meantime. The Does decide to rent an apartment from Alex Smith, who is willing to rent to them until they are able to move into their new home. There is no definite rental period.
This is an at will arrangement. Either the Does or Alex Smith are entitled to change the deal at any time; however, some reasonable notice is usually required.
A landlord can end a tenancy at will at anytime. If you are a tenant at will who would like to protect yourself by outlining how long the lease term will be or how much rent will be, you should consider having a written lease agreement.
Like other rental agreements, this contract will require information about both parties as well as the property. The monthly payments required for rent should be listed, as well as the amount of notice needed before the Tenancy At Will can be terminated.
Even though you do not have a written agreement, each party has some legal protections. Both parties to an at will arrangement must follow applicable regulations regarding notice to vacate the property.
A tenant at will is responsible for all rent payments and for following the rules that the parties have agreed to. The tenant must pay for any damages beyond normal wear and tear to the real estate. The property owner is required to provide a safe environment and must provide notice prior to entering the leasing property.
Local regulations generally specify how much notice must be given before a tenant can vacate a property. Most cities' landlord-tenant laws require parties to provide a 30-day notice to the other party. This notice is usually given in writing. A reason for the request to vacate is not required.