Question

Malcolm loves his apartment, even though he’s rarely there. His job in international development has him on the road for months at a time. He doesn't have to worry about missing out on his lease renewal though, because he has a(n) ______.

Answer 1

Answer: A periodic estate renews automatically at the end of the lease period.

Explanation:

Periodic estate is a kind if leasing agreement that continues for a period of time and doesn't have a specific date of termination and automatically renews at the end of the lease period. But the agreement for this kind of leasing has to be reached between the tenant and the estate manager. Malcom apartment leasing is under the category of periodic leasing.