Landlord/Property Manager and Tenant
By definition, a rental owner is a landlord of real property who rents all or part of a property to another party, called tenant, for some period of time. A lease agreement establishes the relationship of tenant and landlord. The lease is both a conveyance of a possessory estate in real property and a contract between the tenant and landlord. The tenant receives a right to legally possess the property in exchange for rent paid to the landlord. A lease typically specifies the duration of the lease agreement, any terms and details regarding the payment of rent.
Because a lease acts as both a conveyance and a contract, two sets of duties and rights between the tenant and landlord arise.
- The rights and duties that exist in regard to property law rules
- The rights and duties that exist because of the contractual promises of the lease.
In addition, many states have specific legislation designed to protect the rights of residential tenants, such as the right to privacy and fit housing, and statutes that protect tenants from acts like illegal retaliatory and discrimination and retaliatory evictions.
Landlord-tenant laws vary depending on county and state. It is important to check your local state laws for specific details.
Types of Leases
A non-freehold estate is an exclusive right to enjoy the possession and use of a parcel of land or other asset for an indefinite period of time. It is defined through a lease or rental agreement that can be either written or oral. The landlord maintains ownership of the property, and the tenant has the right to use the property as established in the terms of the lease agreement. Non-freehold estates involve tenants, and they are often referred to as tenancies. There are following four types of tenancies:
1. Tenancy for Years
A tenancy for years is a type of lease that specifies a definite term for the agreement, such as one month or one year. The lease terminates automatically at the specified end date without the need for notice by either the landlord or tenant.
2. Tenancy from Period to Period
A tenancy from period to period is a type of lease that specifies a definite initial time (commencement date) but that is automatically renewable unless terminated by either the landlord or tenant. The lease could be from week to week, month to month or year to year, and is renewable indefinitely for an equal period of time.
3. Tenancy at Sufferance
A tenancy at sufferance is never intentionally created but rather exists as the result of circumstances. This type of non-freehold estate occurs when a tenant remains on a property after a lease has been terminated or the agreement has expired. The only difference between a tenant at sufferance and a trespasser is that the former had at one time a right to occupy the property.
4. Tenancy at Will
A tenancy at will exists at the pleasure of the landlord and tenant. In other words, it is in force until either the landlord or tenant terminates the agreement. In theory, a tenancy at will can be terminated instantly whenever notice is given by either party. In practice, however, landlords typically provide a reasonable amount of time for the tenant to vacate the property.
All types of leases can be managed on ManageCasa. This includes the ability to setup a new lease, manage an existing lease or terminate a lease.