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Month-to-month rental agreements offer flexibility for landlords and tenants, allowing either party to terminate the lease with proper notice. This type of lease, also known as tenancy at will, automatically renews each month unless one party provides written cancellation notice via certified mail, adhering to state law. While this arrangement has its benefits, such as flexibility, it also comes with drawbacks that need consideration. The video tutorial discusses details to help determine if a month-to-month lease is suitable for your situation and outlines essential elements to include when drafting the agreement. It also highlights similarities to standard leases regarding moving in, evicting tenants, and complying with local regulations.