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A lease agreement is essential for landlords as it is a legally binding contract that outlines the obligations and rights of both the tenant and landlord. Without a lease agreement, landlords may risk losing money, property damage liability, unpaid rent collection issues, and more. Creating a lease agreement is easy and important for avoiding disputes and resolving problems efficiently. Key elements of a lease agreement include property details, tenant and landlord information, terms and conditions, and rules and responsibilities. By understanding the basics of a lease agreement, landlords can effectively protect their property and be more successful in managing their rentals.
