Tenancy refers to the act of renting or leasing a property from a landlord. It means living in a rental property and paying rent to the owner for the duration of the agreed-upon period. Full definition
It is section 1 (1)(m)'s definition of residential tenancy agreement to include oral and implied agreements to rent, as well as the written leases that landlords and tenants often incorrectly assume to be decisive, that creates much of the uncertainty about who is a tenant. (ablawg.ca)
Of course, some of the other tenants might enter into a new residential tenancy agreement with the landlord for the same residential premises, but the landlord does not have to agree, or keep the rent the same, etc.: section 47.3 (5). (ablawg.ca)
That's a problem your clients can say good - bye to if they're part of the growing number of property owners who are tapping an emerging transaction structure that brings together the tax benefits of the 1031 exchange with the ownership advantages of tenancy in common. (realtormag.realtor.org)