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