Holdover Tenant

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Dictionary Says

Definition of 'Holdover Tenant'

A renter who remains in a property after the expiration of the lease. If the landlord continues to accept rent payments, the holdover tenant can continue to legally occupy the property. State laws and court rulings determine how long the holdover tenant's new rental term is if the landlord accepts rent. If the landlord does not accept further rent payments, the tenant is considered to be trespassing if he does not promptly move out, and eviction may be necessary to force the tenant to leave.

 
Investopedia Says

Investopedia explains 'Holdover Tenant'

A court proceeding between a landlord and a holdover tenant is called a holdover proceeding. Problems of holdover tenancy can be headed off by including a clause in the original lease stating what happens at the end of the lease period. For example, a year-long apartment rental lease might specify that at the expiration of the lease, the lease will convert to a month-to-month lease.

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