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What is the difference between a fixed term and a periodic tenancy?

April 26, 2017difference fixed periodic tenancy term

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What is the difference between a fixed term and a periodic tenancy?

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A fixed term tenancy is created for a specified length of time, for example, 12 months. If the tenants remain in the property after the fixed term has ended, but do not enter into a new fixed term agreement, then their tenancy will automatically become periodic. A periodic tenancy rolls on a specific period, such as month to month or quarter to quarter. This arrangement may have been specified at the start of the tenancy or may have naturally arisen by the expiry of a fixed term tenancy.