Property Management
A lease that automatically renews for successive periods until one party provides notice to terminate is called a:
ATerm (fixed-term) lease
BPeriodic tenancy (periodic lease)✓ Correct
CTenancy at will
DTenancy at sufferance
Explanation
A periodic tenancy automatically renews at the end of each period (month-to-month, week-to-week, year-to-year) unless either party gives proper notice. The most common form in residential rentals is a month-to-month tenancy.
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