What is the difference between a Fixed Term Tenancy and a Periodic Tenancy?
A. A fixed term tenancy specifies in writing a start and finish date and comes to an end unless it is renewed. A periodic tenancy has a start date and is valid until “proper notice” in writing is given by either party. The proper notice is 60 days by the owner/agent (unless the Tenant has broken the agreement or the owner has sold the property) or 21 days by the Tenant. Q. What happens to the Bond during the Tenancy A The Bond is held by the owner/agent “in trust” until the end of the tenancy and must be deposited into an authorised fund.
