Generally speaking, fixed-term tenancies give more certainty to both tenants and landlords as neither party can terminate the tenancy early (or at least terminate it early without some repercussions). In contrast, periodic tenancies can be terminated by tenants (by giving 28-day notice or landlords (by giving 90-day notice and having a specific reason to terminate).
We have a blog article on this topic where you may find some more information:
What is a periodic tenancy? Periodic tenancy vs Fixed-term tenancy
The information contained in this article is exclusively for promotional purposes. It does not in any way constitute legal advice and should not be relied upon as the basis for any legal action or contractual dealings. The information is not, and does not attempt to be, a comprehensive account of the relevant law in New Zealand. If you require legal advice you should seek independent legal counsel. myRent.co.nz does not accept any liability that may arise from the use of this information.
