What does the term 'fixed term' refer to in types of tenure?

The term 'fixed term' in property management refers specifically to a lease agreement that has a clearly defined start date and an end date. This type of lease provides both landlords and tenants with certainty, as the tenant agrees to occupy the property for a specific duration, which can range from a few months to several years. During this period, the terms of the lease, such as rent amount and the responsibilities of both parties, are established and remain unchanged until the lease's expiration.

This structure provides advantages, such as ensuring stable occupancy for landlords and allowing tenants to plan their tenure without concern for unexpected changes within that agreed period. Upon reaching the end of a fixed-term lease, the parties may choose to renew the lease, negotiate new terms, or the tenant may vacate the property. This clarity and structure are significant distinguishing factors that set fixed-term leases apart from other types of tenures, such as those that might have more flexible ending conditions.