What is a "tenant-at-will"?

A "tenant-at-will" refers to a tenant who occupies a rental property without a fixed-term lease agreement. This arrangement allows either the tenant or the landlord to terminate the tenancy with minimal notice, typically consistent with local laws, which can be as little as a few days. This flexibility is beneficial for both parties; the landlord can regain control of the property more easily, while the tenant has the option to leave without long-term commitment.

This arrangement contrasts with a long-term lease agreement, which would provide stability in terms of rent and duration. It also differs from situations where a tenant has been evicted or has exclusive rights to rent payment amounts, as these scenarios involve specific legal standings or terms that do not reflect the nature of a tenant-at-will status. Thus, the essence of a tenant-at-will is defined by its lack of fixed duration and the ease of termination, making option B the correct choice.