Property Management Update: Changes to Periodic Lease Agreements

A periodic lease, commonly referred to as a month-to-month lease, lacks a predefined end date. Instead, the tenancy continues on a rolling basis until either the tenant or the landlord provides notice to terminate. Ideal for situations like planned renovations, personal property occupancy, or selling with vacant possession, this lease type offers flexibility and unique benefits.

We’re here with a quick update on Periodic Lease Agreements. Understanding the notice periods for ending a lease is vital for a smooth transition in your leasing journey.

Periodic Lease Agreement // Notice to end lease

Notice issued by tenant

Under the conditions of a periodic lease a tenant must give a minimum of 21 days written notice or a month if the rent is paid monthly. If both parties agree in writing then this notice period may be shorter.

Notice issued by landlord

Under the conditions of a periodic lease, a landlord must give at least 60 days notice for a prescribed reason, as per the Residential Tenancies Act, otherwise the written notice must be at least 90 days.

Please refer to the Residential Tenancies act for more information on this or contact your OC property manager with any questions.

Disclaimer: Information in this blog is accurate at the time of publication. Ouwens Casserly has relied upon information from external sources in compiling this publication and does not warrant its accuracy or completeness. Please verify details and consult your agent before making any decisions.