Define: Fixed-Term Lease

A fixed-term lease is a rental agreement that specifies a predetermined start and end date for the tenancy. It provides both the landlord and the tenant with a clear understanding of the duration of the lease.

The length of a fixed-term lease can vary depending on the agreement between the landlord and the tenant. It can range from a few months to several years.

Generally, a fixed-term lease cannot be terminated early unless both parties agree to it. However, some jurisdictions may have specific laws allowing tenants to terminate the lease early under certain circumstances, such as military deployment or domestic violence.

In most cases, the landlord cannot increase the rent during a fixed-term lease unless it is explicitly stated in the lease agreement. However, some jurisdictions may have rent control laws that limit or regulate rent increases.

When a fixed-term lease expires, it can be renewed for another fixed term, converted into a month-to-month lease, or terminated altogether. The specific options may vary depending on the terms of the lease agreement and local laws.

In general, a landlord cannot evict a tenant before the fixed-term lease ends unless the tenant violates the terms of the lease agreement, such as non-payment of rent or engaging in illegal activities. The landlord must follow the proper legal procedures for eviction.

Whether a tenant can sublet the property during a fixed-term lease depends on the terms of the lease agreement. Some leases may prohibit subletting, while others may allow it with the landlord’s consent.

A fixed-term lease is not typically renewed automatically. Both the landlord and the tenant must agree to renew the lease for another fixed term or convert it into a month-to-month lease.

Tenants are generally not allowed to make significant changes to the property without the landlord’s permission during a fixed-term lease. Minor alterations or decorations may be allowed, but it is best to consult the lease agreement or seek the landlord’s approval.

If a tenant breaks a fixed-term lease without a valid reason, they may be held responsible for paying rent until the end of the lease term or until a new tenant is found. The landlord may also have the right to pursue legal action to recover any financial losses incurred due to the tenant’s breach of the lease agreement.