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In this video, Rachel, the Vancouver digital editor for Next Home, addresses a common dilemma for tenants: choosing between a one-year lease and a month-to-month agreement. She discusses the advantages and disadvantages of both options to assist viewers in finding the most suitable rental agreement for their needs. Rachel explains that a rental agreement is a written contract between a property owner and a tenant, detailing rental terms such as parties involved, rental unit address, rent amount, and tenancy duration. She highlights that a month-to-month tenancy has no fixed end date and automatically renews, providing flexibility for tenants.