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Month-to-month rentals provide flexibility for both landlords and tenants, alongside common options like six-month or one-year leases. However, this arrangement has drawbacks. In the video, viewers will learn essential information to help them decide if a month-to-month lease is suitable, including what to include in the agreement and how to draft it. A month-to-month lease, also known as a tenancy at will, allows landlords to evict tenants at any time, with the contract automatically renewing each month unless written notice of cancellation is given by either party. This type of agreement shares similarities with standard leases regarding tenant eviction and compliance with local regulations.