Definition - What does Periodic Tenancy mean?
A periodic tenancy is one that rolls over automatically from one period of time to the next, until either the landlord or the tenant gives formal notice to the other. The tenancy may start as monthly or yearly and, at the expiration of the stipulated term, it will automatically roll over for the same period of time.
Periodic tenancy can either be implied or it can be formally expressed. If there is a written lease between the landlord and the tenant, then it is expressed. If the landlord rents to the tenant with no lease, then it is implied.
Justipedia explains Periodic Tenancy
The most common type of periodic tenancy is a month to month one. So long as the rent is paid, there would be scope for claiming a periodic tenancy.
Tenants and landlords both hold the same rights under a periodic tenancy as they would have in a fixed tenancy.