A statutory periodic tenancy occurs when a fixed-term tenancy (e.g., 6 or 12 months) ends, but the tenant remains in the property without signing a new agreement. This tenancy continues automatically on a rolling basis, based on the previous rental payment schedule:
✅ No Need for a New Contract – The original tenancy terms still apply.
✅ Flexible for Tenants & Landlords – No fixed end date, allowing easier termination.
✅ Rent Payments Continue as Usual – Tenants must keep paying rent as per the original agreement.
