A tenancy more important than the monthly, and at-will tenancy, is one for a definite term of a year or longer. The necessity for having such agreements in writing is governed by the statutes of the State in which the property is located.
The tenancy for a year ends without notice on the last day of the term of the lease. If the tenant continues in possession, he is a hold-over. The landlord can dispossess him as such, or he can elect to hold him for a further period of one year. The landlord may, however, give notice to a tenant that if he continues in possession, it is as a monthly tenant only. In the absence of a notification of this kind, the acceptance of rent by the landlord from a hold-over is usually construed as a renewal of the lease by the landlord for one year, and this is regardless of the number of years in the term of the original lease.