If a lessee of real property remains in possession thereof after the expiration of the hiring and the lessor accepts rent from him, the parties are presumed to have renewed the hiring on the same terms and for the same time, not exceeding one year.

Source: CivC 1877, § 1118; CL 1887, § 3741; RCivC 1903, § 1437; RC 1919, § 1061; SDC 1939, § 38.0415.