Browse Proptionary encyclopedia

Build your real estate vocabulary to be able to communicate and invest more effectively and professionally.

Estate from Period to Period

DEFINITION

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

EXPLANATION

Periodic tenancy — also known as an “estate from period to period”, “tenancy from year to year”, or “tenancy from month to month” — is a lease that automatically renews until a tenant or property manager terminates it in writing. Most periodic tenancies are month-to-month.

A property manager can adjust periodic tenancy with a 30-day notice for tenants who have used a property for less than 12 months, or a 60-day notice for tenants who have used a property for more than 12 months.

For tenants of Section 8 Housing or other government agencies, a property manager can only adjust or end terms with a 90-day notice.

Estate From Period to Period

A periodic tenancy, otherwise known as an estate from period to period, is a leasehold estate for a specified period. A periodic tenancy continues for successive periods up to the point that the tenant or landlord gives the other notification of termination of the tenancy. If the lease ends and the tenant makes an additional payment of which the landlord accepts, the lease will continue. Under a periodic tenancy, the lease will continue until either the landlord or tenant decides to terminate the contract. Such an agreement can be created expressly or by implication.

Periodic tenancy usually refers to leases being on a month-to-month basis because standard real estate practice dictates that a landlord will receive necessary payment monthly. In the event no lease term has been determined or agreed upon, a month-to-month lease will be in place until either party decides to terminate the lease.

When a lease does not have a termination date, however has an agreed upon term the lease is an estate from period to period. In such a lease, the rights of the parties are defined except unlike other lease types there is no end date meaning its term is indefinite.

Sign Up

Start expanding your real estate knowledge

Already have an account?
By signing up to create an account I accept Proptionary’s

Join Us

Get ahead by signing up for the latest real estate, investment and financial articles.