Tenancy-at-Will
Candlefocus EditorTenancy-at-Will is often seen as more flexible than other common rental agreements, such as periodic tenancy, lease, tenancy at sufferance and more. Tenancy-at-Will grants more freedom than other rental contracts, as it does not contain a fixed term, rent amount, or other common rental stipulations. It is possible that the arrangements established during a tenancy-at-will may change often due to its flexible nature.
This type of tenancy is particularly beneficial for landlords and tenants who may have a changing relationship. If one of the parties needs to temporarily leave the agreement, or if the arrangement has to change for any reason, the tenancy-at-will allows flexibility and avoids breaking a legally binding contract.
However, Tenancy-at-Will does have some downsides, such as leaving parties open to liability. Without a written agreement, there can be no dispute resolution if the other party breaches contract. The awareness of basic tenant rights is also absent in this type of agreement, and the lack of rent payment invariability can result in an unstable situation for the landlord or tenant.
If you plan to use a Tenancy-at-Will contract to rent a property, it is crucial to know the differences between state and federal laws. Each state has its own rules regarding how landlord-tenant relationships work, and federal law is important if either party is of a protected class, such as disabled individuals. Ultimately, tenant and landlord will need to discuss the terms of the contract in detail and ensure they understand the risks, liabilities and implications of using such an agreement.
In conclusion, Tenancy-at-Will is an agreement between a landlord and tenant without a written agreement that can be terminated at any time. This kind of contract is attractive for its flexibility and avoidance of legal contracts, but it does not always come with the protections of a more established agreement. Before choosing to use a Tenancy-at-Will contract, both parties must be aware of the risks, challenges and potential liabilities associated with it.