A fixed term tenancy means you have your home for a pre-determined specific period of time – generally between 6-12 months, but that can be negotiated with your property manager. Most tenancies at Wendell are fixed term, as it gives you the peace of mind that you have a guaranteed place to live. With a fixed term, neither party can give notice to vacate during the tenancy. At the end of the fixed term, you will have no less than 21 days notice if you’re not offered an extension, so you still have some time to get yourself sorted before vacating the property.
A periodic tenancy has a start date but no set end date. Because of this, the property owner can give you 90 days notice to vacate, at any time, without specifying a reason. If they, or a member of their family, want to move in to the property, they only have to give you 42 days notice. While some people have periodic tenancies, we tend to not use them to ensure that renting remains a stress-free experience for tenants.