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What does lease type fixed mean?

A fixed lease term is when a tenant agrees to rent your property until a specific date. For example, if the tenant signs a one-year fixed term starting on July 1, it would end on June 30 of the following year.

What is a lease that does not have a specified duration known as?

Tenancy from period to period, or periodic tenancies, are leases that do not have a defined end date. The agreement may still identify a length of time for the occupancy. However, the landlord and tenant can extend the tenants stay, renewing indefinitely.

What are the types of lease?

Types of Leasing Finance Lease. Operating Lease. Leveraged Lease. Conveyance Lease. Sale and Leaseback. Complete and Non-Pay-Out Lease. Specialised Service Lease. Net and Non-Net Lease.

What is a lease for a specific period of time known as?

A fixed-term lease is a type of rental agreement where the renter agrees to stay and pay rent for the time indicated in the written contract. Renters who break a long-term lease like this typically lose: Their deposit. Their pre-paid rent for the final month of the lease (if applicable)

What is a periodic tenancy?

A periodic tenancy is the legal name for a rolling tenancy with no fixed end date. An assured shorthold tenancy becomes periodic when a fixed term ends, unless you agree to another fixed term. Use this guide instead if you want to end a fixed term tenancy early.

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What is a lease that has no definite term called?

Periodic tenancy is a lease with no specific ending date for the term of the lease. The landlord and tenant agree that the tenant can occupy the property indefinitely. They can agree, if both parties choose, that there will be notice given prior to termination of the arrangement.

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