Which type of tenancy is typically set for a specific term, such as one year?

A fixed tenancy is characterized by a lease agreement that is set for a specific duration, commonly one year, although it can be for various lengths such as several months or years. This type of tenancy provides both the landlord and tenant with a clear understanding of the terms of occupancy, including the start and end dates, which allows for better planning and management of the rental property.

With a fixed tenancy, tenants usually benefit from stability, as they know the terms of their occupancy and the rental cost for the entire duration of the lease. If the agreement is mutually beneficial, it can be renewed at the end of the term, but the initial contract imposes a firm timeline that dictates when the tenancy will commence and conclude. This structure contrasts with other tenancy types, where terms may be more fluid or subject to change.