What type of tenancy allows for a month-to-month rental agreement as a verbal agreement?

The correct answer is Tenancy at Will because this arrangement allows either party, the landlord or the tenant, to terminate the rental agreement at any time, usually with a short notice period, such as 30 days. This type of tenancy does not require a written contract and can be established through a verbal agreement, making it flexible for both landlords and tenants.

In contrast, Leasehold tenancy typically involves a formal lease agreement with specific terms, usually for a set period, which requires written documentation and cannot be terminated on a whim. Bilateral tenancy is not a recognized term in real estate; it might suggest some form of agreement between two parties but lacks legal standing in defining tenancy types. Fixed-term tenancy is a specific arrangement with a predetermined start and end date, again requiring a written lease and not allowing for the flexibility of month-to-month arrangements inherent in a tenancy at will.