Periodic how long

I have a rental contract which the agent did when tenancy started 3 yrs ago, it says AST cannot be renewed after 3 yrs on the same contract even when it has been periodic after 1 Yr. Can this be right?
this agency did not bother to transfer deposit to my custodial scheme until I realised it and actioned.

ANY tenancy renewal requires a new contract. However why bother? Periodic tenancies are generally better for all parties.

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