Final answer:
The correct answer to the question is C, month to month tenancy. This situation arises when a tenant continues to stay and pay rent after the lease has expired and the landlord accepts this arrangement, renewing the agreement each month.
Step-by-step explanation:
When a tenant continues to pay rent after the expiration of their lease and the landlord accepts this rent, the result is typically a month to month tenancy. This is an informal arrangement that allows both the tenant and the landlord to continue the rental agreement on a month-to-month basis until one gives notice to terminate, usually requiring a 30-day notice as per most rental and leasehold laws.
Option C, month to month tenancy, is the best description for the leasehold in question. A holdover tenancy is often used interchangeably with month-to-month tenancy when the tenant remains after the lease period, but with the key factor being the landlord's acceptance of rent, thereby creating a new tenancy agreement. Tenancy at sufferance occurs when a tenant remains without the landlord's consent. Tenancy in common is a form of ownership in which two or more individuals hold property concurrently, with no right of survivorship, and is not relevant to leasehold arrangements.