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If you're a landlord in California renting residential or commercial property, understanding the lease agreement is crucial. It establishes the foundation of your relationship with tenants and should clearly outline terms, protect your interests, and provide essential information for prospective tenants. Key elements to include are recurring fees, pet policies, termination terms, and rules for inhabiting the rental unit. The lease, or rental agreement, is a contract that specifies important aspects such as monthly rent payments, the security deposit, and other vital details, ensuring a smooth rental process.