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In North Carolina, both landlords and tenants should familiarize themselves with state rental laws to avoid costly disputes. This video outlines key aspects of these laws, including how they relate to lease agreements, essential provisions to understand, and guidelines on eviction. Landlords and tenants have significant flexibility in determining lease terms, such as rent and payment schedules. For those seeking a legally compliant lease agreement without the high costs of hiring an attorney, a customizable form is available through a provided link at the video's end. The tutorial emphasizes the importance of understanding these legal frameworks to ensure a smooth rental experience.