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English definition of “tenancy”

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tenancy

noun
 
 
/ˈtenənsi/ ( plural tenancies) LAW, PROPERTY
[C or U] a legal arrangement in which someone has the right to live in or use a building or land owned by someone else in exchange for paying rent to its owner: grant/give/create a tenancy Some farmers have been granted tenancies which allow them to diversify for non-agricultural purposes.terminate/sever/renew a tenancy Federal law allows public housing agencies to terminate the tenancy of any resident who engages in criminal activity on or off the premises. a tenancy agreement/law/contract In such cases, the tenant surrenders his right of tenancy.
[C] a particular period of time during which someone lives in or uses a building or land belonging to someone else in exchange for paying rent to the owner: a long-term/fixed-term tenancy a three-month tenancy
→  See also assured tenancy
(Definition of tenancy from the Cambridge Business English Dictionary © Cambridge University Press)
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