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month-to-month lease-Legal Definition. n. A lease without a fixed term, because either it never included one or such term is expired, in which the landlordâs acceptance of each monthly rent payment gives the tenant a right to stay for one more month. 1  Link/Cite.
A typical part of a lease-to-own agreement is rent credit. A portion of the rent payments are credited to the purchase price. For instance, if the rent payments are $1,000 per month, the rent credit is $200 per month and the length of the lease is 24 months, the rent credit applied to the purchase price would be $4,800.