PERIODIC
LEASE (PERIODIC TENANCY)
A
lease where the term is equal to the rental period. For example, the
carryover (holding
over)
clause of the standard
lease
allows a monthly tenancy. In such a case it is created by agreement.
The lease can be terminated by a notice
to quit
by the lessor, or a notice
of intention to quit
by the lessee. A periodic tenancy can also be inferred by the
conduct of the parties such as when the landlord accepts rent from
the tenant during the holding over period.
See
tenancy
at will