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In this video, Rachel, the Vancouver digital editor for Next Home, discusses the common dilemma tenants face when choosing between a one-year lease and a month-to-month rental agreement. She outlines the pros and cons of each option to help viewers decide which best suits their needs. Rachel provides an overview of rental agreements, defining them as written contracts between property owners and tenants that specify terms such as the parties involved, rental amount, and duration of the tenancy. She explains that a month-to-month tenancy has no fixed end date and renews automatically, contrasting it with fixed-term options.