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In this tutorial by Ivan from SimpleSheets, viewers are guided through a step-by-step process for using the lease tracker template, part of their extensive collection of over 100 smart templates. The video encourages viewers to try 5 free templates before purchasing. The introduction sheet provides a brief overview, customization difficulty, and instructions for utilizing the template, along with a guide for compatibility with online services. The lease tracker simplifies property management by allowing users to input essential details such as the building's address, date built, tenant information, monthly rent, and more, streamlining the tracking of leased properties.