What Is The Difference Between Property Ownership And A Tenancy?

Property ownership and tenancy are two different legal arrangements relating to the occupation of property.

Property ownership is the legal right to own a property outright with complete control and use of it, subject to legislative restrictions. The owner is responsible for all aspects of the property, including maintenance, repairs, and property taxes.

The title to the property can passed on to heirs or sold at the owner’s discretion.

Property owners have the right to make alterations or improvements to their property without seeking permission from a landlord.

A tenancy involves renting a property from the property owner, known as the landlord, for a specified period on a fixed-term basis.

Tenants have the right to occupy and use the property for the agreed term of the tenancy, but they do not own it. Instead, tenants pay rent for the right to live in a property temporarily.

Tenants do not have the right to alter a property without the landlord's consent. However, tenants may be able to require the landlord to make repairs or remedy defects in the property which interfere with their right to the quiet enjoyment of the property under the terms of the lease.

Tenancies are subject to a rental agreement or lease, which outlines the terms and conditions of the tenancy, including the rent amount, duration, and rules.

At the end of a tenancy term, a tenant may have the option to renew the lease, negotiate new terms, or vacate the property.

More information is available in the By Lawyers Short Residential Tenancy and Purchase of Land guides.