My last post talked about two types of leases. Now I'll describe the other two types of leases, and ways that leases can end.
There's also "tenancy at will," which is when a landlord and
tenant have an informal arrangement that exists until one party isn't
interested any more or some event takes place. For example, this could happen
when a property is for sale and the agreement exists until it is sold. Only 3
days notice is needed in a tenancy at will. That isn't much notice, but often
the people involved know what's going on before the official notice is needed.
These are friendly leases.
Finally, there is also something called "tenancy at
sufferance." This happens when the tenant stays after a lease has ended.
The landlord can decide to renew the lease, accept rent and/or change the
rental terms, or evict the tenant. For eviction, the landlord needs to give
notice. Obviously the tenant wouldn't give an eviction notice.
Now we've talked about leases expiring and the tenant getting evicted.
Two other ways to end a lease are "surrender and acceptance," which
is when both the landlord and tenant agree to end the arrangement, and
"breach of conditions," which is when either the landlord or the
tenant agreed to do certain things and it just didn't happen. Depending on what
happened, the wronged party may walk away from the lease.
If you need other information, there is information at the Colorado Division of Housing.
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