Leasing Of Real Property

Periodic Tenancy

  • Renewable period of time with rent due at stated intervals.

Tenancy for Years

Definite period of time stated, including stated ending date. Can be for less than one year.

Tenancy at Sufferance

  • Remaining in possession of rented property after the lease has expired.

Tenancy at Will

  • Possessing land without an agreement as to the term of the lease or the amount of rent.

Rights of the Tenant

Right of possession

Someone currently holds something in hand and this person may be the temporary keeper or the long-term owner of an object. This term is most commonly used in regards to property and is a land-backed asset.

Right to use property

A legal right to use or in  stay in a particular property.

Subleasing and Assignment of Leases

Lease assignments and subleases are not uncommon. Often, a tenant needs to get out of a lease early, maybe because of a job relocation, or a landlord needs to pay a debt and gives his or her right to receive rent to a creditor. There are numerous reasons for transferring your interests in a residential lease.

Duties of the Tenant

Pay Rent

Before the duty of paying rent was an independent person responsibility, meaning that the tenant was obligated to pay rent regardless of whether of not the landlord was in breach of certain covenants. Today, as we saw in the last sub chapter, the duty to pay rent is dependent upon the landlord’s performing certain duties. As we discussed before, many duties of the landlord have been interpreted such that breach by the landlord will terminate the tenant’s duty to pay rent.

Duty to take Care of the Property.

Main part of having real property is taking care of it. As a Tenant your responsible for taking care of your proportionate. It's also called the duty of care. It's considered a social contract.  Especially in property that the individual is renting the property.

Rights of the Landlord

Receive Rent

It is the right of the Landlord to receive rent.

Evicting Tenant

It's the right of the land to evict his or her tenant due to breach of contract. Main example non-payment.

Right to regain possession of property     

Its the right of the landlord to posses property due to failure to pay rent.

Duty Of Landlord

Duty to provide habitable premises

The premises that the Landlord rents or leases must be habitable, meaning must be livable.

Duty to conform to governmental requirements

The building,house or property the Landlord has rented out must be up to code. Must reach government and state standards.

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