Which best describes a tenancy at will?

A tenancy at will is best described as a type of rental arrangement that can be terminated at any time by either the landlord or the tenant, without the need for a formal termination notice period. This flexibility is a key characteristic of a tenancy at will, making it ideal for situations where a tenant may need short-term housing or where either party requires the ability to end the arrangement with little notice.

While other tenancy types, such as fixed leases, come with specified terms regarding duration, rent, and conditions, a tenancy at will offers a more fluid arrangement without those rigid stipulations. Furthermore, while a tenancy at will can be established verbally, this is not exclusive to it, as many tenancy types can commence with verbal agreements; thus, this option doesn't fully encapsulate the essence of a tenancy at will as effectively as the termination flexibility does.