National Real Estate Practice Exam 2026 - Free Real Estate Practice Questions and Study Guide

A Period to Period leasehold, also known as a periodic tenancy, is characterized by its flexibility regarding duration. It does not have a fixed ending date but instead renews automatically at the end of each rental period (such as weekly or monthly), as long as the tenant continues to pay rent. This means that while there is a specified length of time for each rental period, the lease continues indefinitely until either party gives notice of termination, making option B the accurate representation of a Period to Period leasehold's attributes.

This feature allows for ongoing occupancy without the need for a new lease agreement each time a rental period ends, which is beneficial for both landlords and tenants who may want the option to continue or terminate the lease with proper notice.