What type of lease continues until a specific date?

The lease that continues until a specific date is known as a lease for years. This type of lease is characterized by its definite duration, which is established at the time the agreement is created. Unlike a periodic lease, which renews automatically at the end of each term (such as month-to-month), a lease for years has a fixed start and end date. This arrangement provides both the landlord and tenant with clarity regarding the lease's duration, obligations, and expiration.

In the context of property management, having a lease for years is beneficial because it creates certainty and stability for both parties, allowing them to plan accordingly. This type of lease is also advantageous in commercial settings where long-term occupancy is often required.

Other types of leases, such as a net lease or gross lease, refer to how rent and operational expenses are handled, while a periodic lease allows for indefinite continuation until either party decides to terminate it, making them distinct from a lease for years.