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Derek Hulewicz
RE/MAX SELECT
12650-151 Avenue, Edmonton, Alberta
P: 780-220-4224
F: 780-457-2194
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Monday, September 12, 2011 - Types of Residential Tenancies

Fixed-term Tenancy

A fixed term tenancy starts and ends on specific date. For example, landlord John and tenant Marta has entered into an agreement for a fixed-term tenancy that would have a term of one year starting Sept 1/2011 and ending Sept 30/2012. When a fixed term residential tenancy expires, one or two things will happen.

Agreement ends – the agreement expires on the expiry date and the tenant moves out.

Automatic renewal provision – if the landlord and tenant do not enter into a new agreement prior to the expiry date, and the tenant continues to occupy the premises, the parties are presumed to have renewed their original agreement as a month-to-month tenancy. This tenancy will be on the same terms and conditions as existed in the original agreement.
 

Periodic Term Tenancy

A periodic tenancy agreement has start date but no end date. Either the landlord or the tenant may end a periodic tenancy by giving notice. Most periodic tenancies are month-to-month; however, they can also be week to week or year to year.

There are many reasons that a landlord will give a tenant a notice of the end of the tenancy agreement. Unlike commercial tenancies, where the notice period is determined by the length of the lease, in residential tenancies the notice period is set by the RTA and depends on the reason for the termination. A tenant has a right to object to a notice of termination if the alleged breach is for grounds other than the failure to pay rent.
 

Fore more info visit:  http://www.servicealberta.ca/Landlords_Tenants.cfm 

posted in Real Estate News at Mon, 12 Sep 2011 14:43:26 -0600



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