Does it matter whether a tenant is on a month-to-month or fixed-term lease when I buy an investment property?

It matters somewhat, though less than many buyers expect. A fixed-term lease locks in specific terms, such as rent and end date, until the term expires, and many fixed-term tenancies continue on a month-to-month basis afterward rather than simply ending, so a fixed term is not the clean exit point some buyers assume it to be. A month-to-month tenancy generally gives more flexibility around timing for later notice, since there is no fixed end date governing when certain steps can be taken.

Either way, the core protections under the Residential Tenancies Act, 2006 apply regardless of which type of tenancy is in place, and a buyer cannot end a tenancy simply because a fixed term happens to be expiring; the same notice requirements and grounds that apply to any other termination still apply. When reviewing an investment property, understanding the lease type helps you plan realistic timing for any future changes, but it should not be treated as a guarantee about when or how easily you could end the tenancy if you wanted to.