Types Of Leasehold Estate Properties
Buying a property or an estate in Houston is one of the most ambitious undertakings of the people of Texas. This is because of the facilities and amenities provided by the city and the growth opportunities available. However, buying a property is not an easy task and cannot be done effectively without professional help.
This is where people require the service of a professional estate sale company such as Blue Family Estate Sales based on Houston, to choose the right property as per their wish to buy or have them on lease. Leasing is also one of the most convenient options to go for considering the huge number of appliers.
Here are some of the types of leases one can have a property on.
Fixed term Tenancy
It can also be defined as “estate for years” and is used for a tenancy that is limited to a specific time period as mentioned in the agreement documents. The duration may not specifically contain years but can be defined in terms of days, weeks, or even months. The dates are clearly stated upon the contract and as such the tenants must vacate the property at the due time.
Periodic Tenancy is something different from its name. This type of tenancy contains the initial period of tenancy and the length of the agreement but does not contain the specific date for the end of the period. This type of agreement is automatically renewed at the end of every tenancy period until either of the parties expressly declare to opt-out of the agreement or terminate the contract.