What are the two types of residential tenancies mentioned?

The two types of residential tenancies recognized in property management are fixed and periodic tenancies.

A fixed tenancy is often established with a specific term, such as a lease lasting for six months or one year. During this period, the tenant has the right to occupy the property, and the landlord cannot change the terms or terminate the lease without cause. At the end of the fixed term, the lease may automatically renew for another term unless either party provides notice otherwise.

On the other hand, a periodic tenancy is characterized by its ongoing nature, which is typically measured in terms of weeks or months. This type of tenancy automatically renews at the end of each period until either the landlord or the tenant decides to terminate it with proper notice. This flexibility allows tenants to stay on a month-to-month basis or another defined period without committing to a long-term agreement.

The other options, while related to various forms of tenancies, do not accurately represent the two primary categories as defined in most residential tenancy laws. Each of the incorrect options highlights different aspects of leases and rental agreements, yet they do not encompass the specific classifications of fixed and periodic tenancies as broadly acknowledged in residential property management.