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A lease agreement is a crucial legal document for landlords, protecting against potential financial losses and liabilities such as property damage and unpaid rent. It clearly outlines the rights and obligations of both the landlord and tenant, helping to prevent disputes and manage issues that may arise. Understanding the basics of creating a lease agreement is essential for landlords. Key components that should be included in a lease agreement are the property details, names of the parties involved, and contact information. Having a written contract is the best way to safeguard your interests as a landlord.