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A lease agreement is a crucial, legally binding contract between landlords and tenants that outlines their rights and obligations. Without one, landlords risk losing money through unpaid rent or property damage. Creating a lease is straightforward, and understanding its essentials can significantly benefit landlords. Key components of a lease should include details about the property, names, and contact information of the parties involved. A well-structured lease helps prevent disputes and serves as a crucial first line of defense for landlords, enabling them to address issues effectively and protect their property.
