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Lease Term Definition Defined as the period of time in which a contracted lease is in place, lease term establishes the time period to both the lessee and lessor. Lease terms generally come on 3 forms: fixed, periodic, and indefinite. Additionally, a lease can cover either material or non-material property.

To determine the lease term, a company first determines the length of the non- cancellable period of a lease and the period for which the contract is enforceable. It can then determine ? between those two limits ? the length of the lease term.

The average apartment lease length is one year to 15 months from the time you move in. You and your landlord will then decide whether or not to renew the lease at the end of the year. However, many apartments also offer different types of short-term leases.

The duration of a standard lease agreement is usually one year, or sometimes less, but is a long-term fixed agreement. A rental, such as a vacation home, usually is more short-term such as six months or less.

A lease agreement is a contract between a landlord and a tenant that covers the renting of property for long periods of time, usually a period of 12 months or more.

tomonth tenancy may be terminated by either the landlord or the tenant simply by giving written notice from one side to the other. Unless the rental agreement or lease provides for a different time period, the notice to terminate must be given to the landlord at least 30 days before the tenant moves out.

For month-to-month tenancies, the landlord or tenant must deliver a notice at least fifteen (15) days before the next time the rent is due informing the other party that the lease will be terminated. Any time period shorter is ineffective.

New York City rent stabilized tenants are entitled to receive from their landlords a fully executed copy of their signed lease within 30 days of the landlord's receipt of the lease signed by the tenant.