Fixed-term lease

A fixed-term lease is a rental agreement that lasts for a specific period, such as six months or a year. During this time, the tenant pays rent and has the right to stay in the property as agreed. The landlord and tenant are both committed to the fixed duration, meaning the lease cannot be changed or ended early without penalties unless both parties agree. At the end of the term, the lease typically expires, and both parties can choose to renew, renegotiate, or terminate the agreement. This arrangement provides stability for both landlord and tenant for the set period.