Glossary entry (derived from question below)
English term or phrase:
open-ended tenancy
English answer:
no fixed termination date for tenancy
Added to glossary by
William [Bill] Gray
Feb 28, 2006 14:21
18 yrs ago
6 viewers *
English term
open-ended tenancy
English
Bus/Financial
Real Estate
types of tenancy
The problem sentence is: "The building, however, is fully leased with open-end tenancy agreements."
Does it mean "indefinite-term lease agreements" or something else?
Does it mean "indefinite-term lease agreements" or something else?
Responses
+11
11 mins
Selected
no fixed termination date for tenancy
From this information, no estimate can be made on how long the lease is; it is exactly what it says: open-ended. Not very common where I come from, I might add. Imagine if you had bad tenants!!
Peer comment(s):
agree |
RHELLER
: the "open end date" and conditions surrounding it are usually specified in the agreement- for areas that are hard to rent or for landlords who don't want to be bothered with annual updates
11 mins
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Yes, thanks for that comment.
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agree |
Morad Safe (X)
: http://www.smbiz.com/sbgl002.html can also back your idea.
12 mins
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Thank you for the web link.
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agree |
Alison Jenner
: yes, this is what I have with my landlord - but I am a good tenant ;-)
17 mins
|
Thank you, and I'm sure you are, but not all are!!
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agree |
jarry (X)
56 mins
|
Thanks.
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agree |
Mwananchi
58 mins
|
Thank you.
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agree |
Rebecca Barath
1 hr
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Thank you.
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agree |
Refugio
: Lease agreement may be on a month-to-month basis. (Imagine if you had a bad landlord!)
1 hr
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Thanks. Yes, the bad landlord scenario is also a possibility!
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agree |
humbird
1 hr
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Thank you.
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agree |
Will Matter
2 hrs
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Thank you.
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agree |
Peter Enright
: agree
10 hrs
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Thank you.
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agree |
Alfa Trans (X)
1 day 3 hrs
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Thanks, Marju.
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4 KudoZ points awarded for this answer.
Comment: "Thank you all! :)"
+7
10 mins
or no lease at all
Open ended may mean month to month or year to year, with no end date agreed upon. The tenancy may be terminated by either party at will (with some advance notice required)
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Note added at 2 hrs (2006-02-28 16:51:59 GMT)
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Often a tenant will start out signing a lease for a definite term (usually 1 to 2 years in residential leasing, 3+ in commercial) and when the term is up, the tenancy may continue on a "month-to-month" or "open ended" basis. Amount of rent, advanced termination notice time, and other provisions still apply but there is NO lease anymore.
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Note added at 2 hrs (2006-02-28 16:51:59 GMT)
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Often a tenant will start out signing a lease for a definite term (usually 1 to 2 years in residential leasing, 3+ in commercial) and when the term is up, the tenancy may continue on a "month-to-month" or "open ended" basis. Amount of rent, advanced termination notice time, and other provisions still apply but there is NO lease anymore.
Peer comment(s):
agree |
juvera
8 mins
|
Thank you, juvera.
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agree |
Morad Safe (X)
: seems right to me.
15 mins
|
Thank you, Morad.
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agree |
Alison Jenner
18 mins
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Thank you, Alison.
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agree |
jarry (X)
57 mins
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Thank you, Jarry.
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agree |
humbird
1 hr
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Thank you, Susan.
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agree |
Will Matter
2 hrs
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Thank you, willmatter.
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agree |
William [Bill] Gray
: Yes, this also could be a possibility.
3 hrs
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Thank you, William.
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3 hrs
tenancy at will
no set term, but it can be terminated by either party
subject of course only to any legal restrictions, if the jurisdiction has for instance protections for residental tenants.
subject of course only to any legal restrictions, if the jurisdiction has for instance protections for residental tenants.
Discussion