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A lease agreement is essential for landlords to protect their property and avoid disputes with tenants. It is a legally binding contract that defines the rights and obligations of both parties. Without a lease agreement, landlords risk losing money, property damage, and difficulty collecting rent. Creating a lease agreement is easy and crucial for landlord professionalism. Key components include the property details, tenant and landlord names, and contact information. A lease agreement acts as a defense mechanism for landlords in case of property protection actions.
