What type of tenancy is characterized by renting on a month-to-month basis?

A tenancy characterized by renting on a month-to-month basis is known as a tenancy at will. This form of tenancy allows either the landlord or the tenant to terminate the agreement with proper notice, typically varying from state to state but often 30 days. This arrangement provides a great deal of flexibility for both parties, as there is no long-term commitment or fixed lease term involved.

In contrast, a leasehold refers to a rental agreement that establishes a longer-term commitment, often for a fixed duration, where the tenant has a lease for a specified period. A tenancy at sufferance occurs when a tenant remains in possession of the property after their lease has expired, and it usually does not grant the tenant any legal rights to continue occupying the property. A fixed-term tenancy, as the name suggests, is for a specific time period and cannot be terminated without mutual consent or unless the lease terms allow for it. Thus, the defining feature of a tenancy at will is its month-to-month arrangement, which offers easy termination and flexibility in terms of duration.