Residential Leasehold

A residential leasehold is a type of property arrangement where a tenant rents a home or apartment from a landlord for a set period, typically through a lease agreement. The tenant has the right to live in the property during this time, but they don't own it. Instead, the landlord retains ownership. The lease outlines terms such as duration, rent, maintenance responsibilities, and rules. At the end of the lease, the tenant must either renew the agreement or vacate the property. This setup is common for rentals and helps protect both parties’ rights and responsibilities.