What does the 'tenancy-at-will' concept entail?

The concept of 'tenancy-at-will' refers to an arrangement where a tenant occupies property without a formal lease agreement that specifies a set duration. This type of tenancy allows either party, the tenant or the landlord, to terminate the arrangement at any time, provided that proper notice is given if required by law or local regulations.

This flexibility is one of the defining features of a tenancy-at-will, as it does not commit either party to a long-term obligation or a fixed term. It is particularly useful in situations where rental needs are potentially temporary or where the parties involved want to maintain a more casual rental relationship.

In contrast, fixed-term agreements have defined start and end dates, and other options typically involve specific implications regarding notice periods or types of leases that do not accurately capture the nature of a tenancy-at-will.