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Rental Glossary - M

Month-to-Month Lease

Refers to apartments and housing units that are rented out one month at a time. Typically, the lease lasts for just one month. If the neither the tenant or landlord provides notice to terminate or modify the rental agreement, the lease is automatically renewed for one more month.

See Lease.
See also this article on rental leases in Quebec.

Market Price

The actual selling or leasing price of real estate property.

Market Value

The expected price that a real estate property should bring if available for lease in the open market for a reasonable period of time.