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Month-to-month rentals offer flexibility for both landlords and tenants, allowing for short-term agreements that can be altered with proper notice. This type of lease, often called tenancy at will, automatically renews each month unless either party provides written notice of cancellation via certified mail, following state law. The video discusses the advantages and drawbacks of these arrangements, helping viewers decide if a month-to-month lease is suitable for them. It also covers essential elements to include in the lease agreement and how to draft it correctly. Overall, while similar to standard leases in eviction and moving procedures, month-to-month rentals have unique considerations.