Definition - What does Holdover Tenant mean?
A holdover tenant is a tenant in a building who continues to occupy the premises after their lease has expired. If the landlord wants the tenant to leave, then he or she can force the tenant out with an eviction. However, if the landlord wants to allow the tenant to stay, then he or she can continue to accept payments from the tenant.
Justipedia explains Holdover Tenant
Sometimes tenants simply don't leave after their lease expires. It could be because they are waiting for a a new lease in another location to begin, they have not made other arrangements, or because they are trying to get their landlord to allow them to remain. These situations can quickly escalate and law enforcement can become involved. However, they also frequently simply result in tenants continuing to pay rent on a month to month basis.