A tenancy in which rent is payable at fixed intervals, usually weekly, monthly, quarterly, or yearly. The tenancy continues automatically from one period to another until terminated by notice to quit. Periodic tenancies can be created by express agreement. Alternatively they can be created by implication when rent is accepted by the owner of the land from the person who occupies it. This may arise, for example, when a tenant under a fixed-term tenancy remains in possession at the end of his tenancy and the landlord continues to accept rent from him. The length of notice required to terminate the tenancy is usually the same as one of the periods of the tenancy (Prudential Assurance Co Ltd v London Residuary Body  2 AC 386).