Question

What dictates the amount of notice that must be given by the parties to terminate the tenancy or to increase the rent in residential tenancies vs. commercial tenancies? (

Answer 1

Leasehold estate dictates the amount of notice that must be given by the parties to terminate the tenancy or to increase the rent. Through leasehold estate, the landlord provides the right to possess and use the property to the tenant for a certain period of time. There are different types of leasehold estates which include fixed-term tenancy, periodic tenancy, tenancy at will and tenancy at sufferance. A fixed-term tenancy is created for a specified period of time and at the end of the period specified, the tenancy ends without notice. Periodic tenancy specifies only the rent to be paid at certain intervals and the tenancy gets renewed for another period till it is terminated. The landlord or the tenant should give at least one period’s notice before termination. Tenancy at will can be terminated without notice and it may arise when the landlord allows a person to live on the premises without paying rent. Tenancy at sufferance is created when the tenant occupies the property even after the end of tenancy and the landlord is entitled to damages when a commercial or residential tenant wrongfully retains the possession.