IRPM Affiliate Practice Exam

A periodic tenancy agreement is beneficial primarily because it offers flexibility for both landlords and tenants. This type of tenancy typically operates on a recurring basis, such as weekly or monthly, and can be terminated by either party with proper notice. This flexibility allows tenants to have the option to move out without being tied into a long-term lease, while landlords can regain possession of the property more easily than with fixed-term leases.

The mutual ease of termination is a key advantage, catering to the needs of both parties as their circumstances change. This can be particularly advantageous in fluctuating housing markets or for individuals with uncertain job situations, enabling them to adapt without facing severe penalties or long-term commitments.

In contrast, the other options do not accurately reflect the primary advantages of a periodic tenancy. Charging fees without notice is generally not permissible under tenancy laws. While periodic tenancies can simplify property management, they do not exclusively pertain to short-term leases; rather, they provide a more adaptable framework suitable for various durations. Lastly, while landlords can raise rent in periodic tenancies, it is not a mandated process, and annual increases often require specific notice and justification, making this a less relevant benefit compared to the flexibility offered.