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Tenancy at Will
A flexible leasehold agreement without a fixed expiration date, terminable by either landlord or tenant upon standard statutory notice.
A Tenancy at Will is a flexible landlord-tenant relationship that exists without a written lease agreement establishing a fixed end date.
Either party may terminate the tenancy at any time by providing statutory advance written notice (typically 30 days), making it distinct from fixed-term commercial or residential leases.
More in Leasing
See all Leasing terms →Assignment of Lease
The complete legal transfer of an existing tenant's entire leasehold rights, obligations, and physical occupancy to a new incoming tenant.
Read definition →Base Rent
The fixed minimum monthly rent agreed upon in a lease agreement, excluding utilities, janitorial, or shared operating expense pass-throughs.
Read definition →Co-Tenancy Clause
A commercial lease clause granting rent reductions or termination rights if anchor tenants vacate or center occupancy falls below agreed levels.
Read definition →Continuous Operation Covenant
A commercial lease requirement obligating a retail tenant to keep its store open, fully stocked, and staffed during designated business hours.
Read definition →Escalation Clause
A commercial lease provision specifying annual rent increases tied to a fixed percentage, stepped rates, or the Consumer Price Index (CPI).
Read definition →