What does the term "tenancy at will" indicate?

The term "tenancy at will" refers to a rental agreement that exists with no fixed duration and can be terminated at any time by either party, thus providing a high degree of flexibility. This arrangement allows either the landlord or tenant to end the tenancy without needing to provide a lengthy notice period, although local laws may require a reasonable notice period.

In this context, the relationship is characterized by an implied agreement between the parties, allowing them to occupy the property without being bound to a structured timeline. The arrangement is often used in situations where either party may need to be mobile, or when the terms of a longer lease are not necessary or appropriate.

The other answer choices describe different scenarios of tenancy. A fixed rental agreement for one year implies a lease with a definite beginning and end date, which does not align with the concept of a tenancy at will. A rental agreement requiring a 90-day notice before termination provides a structured timeframe for ending the agreement, contradicting the flexibility inherent in a tenancy at will. Lastly, a long-term lease with specific end dates further establishes a defined term, which is also inconsistent with the essence of tenancy at will.