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Month-to-month rentals offer flexibility for both landlords and tenants, in contrast to longer-term leases like six-month or one-year agreements. This type of lease, also known as tenancy at will, allows landlords to evict tenants with proper notice at any time, as the contract renews automatically each month unless either party provides written notice of cancellation via certified mail, following state laws. The video tutorial discusses the advantages and drawbacks of month-to-month arrangements, assisting viewers in deciding if this lease format suits their needs. Additionally, it outlines essential elements to include in a month-to-month lease agreement and how to effectively draft one.