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In this video, Rachel, the Vancouver digital editor for Next Home, discusses the important decision tenants face when choosing between a one-year lease and a month-to-month rental agreement. She explains that a rental agreement is a written contract between the property owner and tenant, detailing terms such as parties' names, rental unit address, rent amount, and tenancy duration. Rachel outlines the two main types of agreements: month-to-month, which has no fixed end date and automatically renews, and fixed-term leases. The video aims to weigh the advantages and disadvantages of each option to help viewers determine which rental agreement best suits their needs.