Land Law - Leasehold Estate -Types of leases
In addition, it is important to take a moment to quickly understand the many kinds of leases that might be established. The first of these is the fixed-term lease, which is typically the most prevalent type of lease and the one that will be the primary focus of this chapter. It is not possible for this kind of lease to continue on indefinitely; rather, there must be a maximum term that is agreed upon at the beginning of the arrangement. 
a lease that can be renewed indefinitely, often known as a periodic tenancy. It could continue from one week to the next or from one month to the next. It is only when either the landlord or the tenant gives notice to the other that the tenancy is terminated. The tenancy is often renewed at the conclusion of the term that was agreed upon.