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What does tenancy type periodic mean?

A periodic tenancy is one that has no fixed date for the end of the tenancy. In this sort of tenancy the tenant can end it by giving notice, and the landlord can end it under certain conditions. A fixed term tenancy has a start date and an end date, and runs for a set amount of time.

What are the disadvantages of a periodic tenancy?

The main disadvantage to landlords with tenants on periodic tenancies is the fact the tenant can up and leave fairly quickly; there is no longer-term surety of income for the landlord.

What is an example of periodic tenancy?

For example, if a tenant signs a lease agreement for a year and continues to pay rent on a monthly basis after the lease expires, the tenancy becomes periodic. Another example is when a tenant rents a property on a month-to-month basis without a specific end date being agreed upon.

Can you end a periodic tenancy?

Periodic tenancies are ones that run indefinitely, with no fixed end date in the agreement. If one side wants to end the tenancy, they have to give the legally required amount of notice. The notice period is different depending on whether its you or the landlord who gives notice.

What is a periodic tenancy?

Uncertainty: Periodic tenancy can create uncertainty for landlords since tenants can give notice to vacate at any time, leaving the property vacant and requiring the landlord to find a new tenant.