What type of tenancy allows a tenant to occupy property month by month?

A month-to-month tenancy is a rental agreement that allows tenants to occupy the property on a monthly basis, providing flexibility for both the tenant and the landlord. This type of tenancy does not have a long-term commitment, as it automatically renews each month until either party decides to terminate the agreement with appropriate notice, which varies based on local laws.

This arrangement is particularly favorable for tenants who may not want to commit to a long lease, allowing them to leave the property with relatively short notice. It also enables landlords to adjust rental terms or increase rent more frequently than with a long-term lease, fostering a dynamic rental environment.

In contrast, a yearly tenancy typically requires a longer commitment, often locking both tenant and landlord into a specific term of one year. Fixed tenancies refer to arrangements that do not change or have set terms, while short-term tenancies, while similar, usually imply a duration shorter than a month, making month-to-month tenancy the most appropriate description for a rental that is renewed every month.