What Landowners Should Know About Tenancy-at-Wills
A tenancy-at-will can serve as the best temporary solution to landlords’ tenancy problems. It might be helpful for property sellers who would like to receive rental income while looking for a buyer. Additionally, it offers a lot of flexibility for tenants. Since it has less formality, it is often attractive to those who have to move frequently for work or are between permanent living arrangements.
While it may look like the best deal for both parties, a tenancy-at-will can be one of the worst tenancy options. Thankfully, landlords only need a five-day eviction notice to evict tenants under this setup.
What Is a Tenancy-at-Will?
A tenancy-at-will arrangement allows a tenant to occupy a property indefinitely with the landlord’s consent. It also may not have a regular rent payment schedule. It is typically used as a short-term solution while a more formal agreement is put into place.
Trust is important in a tenancy-at-will. The tenant must fully understand how they should use the property, while the landlord should ensure the tenant is not liable for any unexpected expenses. Additionally, the tenant is not tied into the setup, which means they can leave the property whenever they want. Both parties can also end the agreement by giving immediate notice at their chosen date.
Due to its flexible and less formal nature, a tenancy-at-will must only be used in the short term. Otherwise, a landlord could create a periodic tenancy if this setup is ongoing and regular rent is present. Once a periodic tenancy is created, landlords will lose the power to end the agreement without notice. They are also responsible for providing tenants with security of tenure.
What Are the Disadvantages of a Tenancy-at-Will?
A tenancy-at-will is an attractive option for both landlords and tenants. However, it is less binding, making it easier to terminate. This can be ideal for the landlords since this agreement does not require an elaborate explanation of why they need to evict tenants and terminate the contract. Since it does not require a robust legal structure, they can also save themselves from the hassle of facing legal issues or paying legal fees.
Besides the instability of this agreement, a tenancy-at-will is often poorly drafted, lacking a defined rental period. Unfortunately, this is bad news for landlords since it lacks a guarantee of a consistent income.
Vacating a Tenancy-at-Will
The vacating process starts when the landlord wants the tenant to vacate or the tenant intends to leave the property. Both parties are not required to state their reason to end the agreement.
Landlords have the option to hand a five-day notice to terminate an at-will tenancy; an eviction notice served on tenants to inform them that they only have five days to vacate the property. After giving this notice, landlords can get their property back by court order after the expiry of the first eviction.
A tenancy-at-will is entirely different from a periodic tenancy. It gives the tenant and the landlord lots of flexibility and can end the agreement with short notice. However, it lacks legal protections for both parties, making commercial property eviction tricky.
To receive the help, you need in eviction notice serving in Nevada, reach out to Rocket Eviction. We offer property owners and landlords in Las Vegas eviction services to regain possession of their property. Get in touch with us to begin the eviction process!