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A month-to-month lease is a type of periodic tenancy that automatically renews at the end of each period until terminated by either party with proper notice. Typically, a 30-day notice is required for termination to be valid. It's important for tenants and landlords to consult state and local laws, as they govern the rules regarding landlord-tenant agreements and may specify time restraints for termination. Either the tenant or landlord can initiate the termination process, provided they give the required notice.