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A lease termination letter serves as a formal notice by either the tenant or landlord to end a month-to-month lease agreement, also referred to as a periodic tenancy. This type of tenancy automatically renews at the end of each period unless a termination notice is given by either party. The letter typically includes a provision for the landlord to inspect the premises before the termination date or a mutually agreed date. It is advisable for the tenant to be present during this inspection.