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Month-to-month rentals offer flexibility for both landlords and tenants, alongside traditional six-month or one-year leases. However, this arrangement has its drawbacks. The video tutorial explains the essentials of month-to-month leases, also known as tenancy at will, which allow landlords to evict tenants with proper notice at any time. Such agreements automatically renew each month unless either party provides written cancellation via certified mail, adhering to state laws. The video also covers what to include in a month-to-month lease agreement and how to properly draft it, noting that these agreements share similarities with standard leases in terms of tenant move-in and eviction processes and compliance with local regulations.