Which type of leasehold estate is most commonly used by residential property managers?

The type of leasehold estate most commonly used by residential property managers is the estate for years. This type of lease creates a fixed and specific duration of tenancy, which often aligns with standard lease practices in residential settings, such as one-year leases.

An estate for years provides clarity and security for both the landlord and the tenant, as both parties know exactly how long the rental agreement will last. This predictability is beneficial for property managers who can effectively plan for upcoming vacancies and make informed decisions regarding property maintenance and leasing strategies.

This type of lease does not automatically renew, which ensures that property managers can reevaluate rental terms and tenant suitability at the end of each lease period. Given the structured nature of residential leases, the estate for years is typically preferred to accommodate both the needs of the property management and the expectations of tenants.